India beating US, China's consumption rates of premium spirits: Researcher

India's rising affluent class is fuelling a surge in high-end spirits sales, with Scotch whisky and fine wines registering double-digit growth, outpacing consumption rates in the US and China, according to a Switzerland-based researcher.

"One subcategory where India surpasses China and is growing at double the rate of the USA over a five-year CAGR is Scotch luxury whisky," Simon Joseph, a senior luxury brand builder and consumer experience expert based in Zurich, said.

Joseph, a researcher with Glion Institute of Higher Education, said according to various data forecasts, the luxury Scotch whisky market is also growing at 16 per cent CAGR up to 2024-end.

Scotch whisky exports to India grew at a compound annual growth rate of 66% up to 2022, outpacing the US, China, and other significant markets, Joseph said, citing data from the UK-based Scotch Whisky Association (SWA).

According to the UK-based SWA data, the equivalent of 167 million bottles were exported to India in 2023, up 27%