Sales of Indian-made foreign liquor rise by 14% in volume terms to 385 million cases in FY23: CIABC
The Confederation of Indian Alcoholic Beverage Companies (CIABC) in its latest report has said sales of Indian-made foreign liquor (IMFL) rose by 14 per cent in volume terms to 385 million cases in FY 2022-23 (FY23) while premium products priced over Rs 1,000 per 750ml bottle grew by 48 percent.
It said that sales are almost 12 percent higher than the pre-Covid levels of FY 2019-20, indicating that the impact of Covid has fully worn off. Further, it said the industry is expected to grow in the current fiscal by 8 percent to end around 412-415 million cases (9 litres each).
It mentioned in FY23, whisky remained the largest segment with an expected sales volume of 243 million cases, contributing 63 percent of sales of the total industry. Moreover, it added after many years of decline, Gin seems to have reversed the trend and is back in growth. According to the report, the trend of premiumisation has continued in the liquor industry as tumblers prefer for high priced offerings.
