Brewers are licking their lips in anticipation of a potential sales surge as temperatures across the country unexpectedly rise. Officials at Beera 91, Simba and Byeong have already seen a surge in demand and are optimistic that the Holi festivities will bring in additional excitement.
“We are expecting a record-breaking season as consumers are now keen to indulge in a diverse range of drinking occasions – both at home and away. The summer of 2023 is coming at an opportune time, as beer demand is higher than pre-pandemic standards, said Ankur Jain, founder and CEO of Bira 91.
Bira claims it is India’s fourth largest brewer with a capacity of 2.5 million hectoliters and intends to double production in the next two years.
Kimaya Himalayan Beverages, makers of BeeYoung and Yavira beers, said it sold more than half a million cases last summer and expects to double sales this year.
“Summer is coming early this year, and this could be one of the reasons for the increase in demand. So, this summer, we expect sales equal to our last year’s numbers in just one season. Abhinav Jindal, Founder and CEO, Kimaya Himalayan Beverages, said, “I expect the industry forecast to show an upward graph, which could lead to a supply shortfall.” Chandigarh and Uttar Pradesh. We are also working on tapping new territories such as Karnataka and Kerala to introduce and expand BeeYoung to new markets.”
Economic think tank ICRIER estimates that India’s alcoholic beverages market was worth $52.5 billion in 2020 and could grow at a compound annual rate of 6.8% between 2020 and 2023, making it one of the fastest growing markets in the world. Will go It says that the share of beer consumption has increased from 44.6% to 49.3% between 2013 and 2018, while wine consumption has remained almost constant between 0.42% and 0.5%. While spirits dominate the Indian market, its share in volume terms declined from 55.02% to 50.31% during the same period.
Simba co-founder and COO Ishwarraj Bhatia said the company produces about 300,000 cases a month and expects to see a growth of anywhere between 20 to 25% in its business by the beginning of summer. “In Delhi, we are already getting a lot more demand than every year. From the first week of March, we are also going to see higher demand due to Holi festival,” he added.
According to BlueWeave Consulting, the size of the Indian beer market was $4.34 billion in 2020. It is expected to reach $9.36 billion by 2027 and is projected to grow at an annual average pace of 12% during 2021–2027.
Beer is the second most popular alcoholic beverage in India after whiskey. The growth of India’s beer market is owing to the growing demand for diverse beer brands and the growing workforce of the country.
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