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India intensifies love story with Scotch

India intensifies love story with Scotch

Global exports of Scotch whisky in 2022 grew to more than £6 billion for the first time, according to figures released by the Scotch Whisky Association (SWA).  The value of Scotch whisky exports was up 37% by value, to £6.2 billion. The number of 700-ml bottles exported also grew by 21% to the equivalent of 1.67 billion.

While established markets in the European Union (EU), such as France, Germany and Spain, continued their post-pandemic bounce-back with strong growth in 2022, India replaced France as the largest Scotch whisky market by volume.

Despite double-digit growth, Scotch whisky still only comprises only 2% of the Indian whiskey market. SWA analysis shows that a proposed UK-India free trade agreement (FTA), which eases the 150% tariff burden on Scotch whisky in India, could boost market access for Scotland’s whisky companies, allowing for an additional £1 billion of growth over the next 5 years.

The Asia-Pacific region overtook the EU as the industry’s largest regional market, with double-digit growth in Taiwan, Singapore and China as the post-pandemic recovery continued.

Commenting on the figures, Chief Executive of the SWA, Mr Mark Kent said, “During a year of significant economic headwinds and global supply chain disruption, the Scotch whisky industry continued to be an anchor of growth, supporting investment and job creation across Scotland and the UK.”

The UK Government’s Minister of State at the Department for Business and Trade, Mr Nigel Huddleston said, “It is essential that we continue to support the industry as it expands into new markets, thanks to our new trade agreements around the world such as CPTPP and in India. As we set our sights on £1 trillion exports by 2030, I’m confident we can see Scotch whisky go from strength to strength in the years ahead.”

The largest export destinations by volume (700-ml bottles) were: India (219 million bottles +60%), France (205 million bottles +17%), US (137 million bottles +9%), Brazil (93 million bottles +14%), Japan (75 million bottles +33%), Germany (67 million bottles +48%), and Spain (67 million bottles +39%).

The category-wise share of Scotch whisky by value comprised of bottled blend (+43%), single malts (+30%), bulk blends (+13%), bottled blended malts (+22%), bulk blended malts (+37%), bulk single and blended grain whiskies (+39%), and bottled single and blended grain whiskies (+150%).