Global and Indian spirits market trends

The global spirits market is undergoing a period of transformation characterized by a shift toward premiumization and polarized growth. In 2025, global spirits volumes declined by 3%, though the market remained largely stable when excluding national spirits like Chinese baijiu.

Growth within the sector is increasingly driven by specific categories and regions. While Scotch, Japanese, and Canadian whisky volumes fell, Indian whisky saw a 4% increase, contributing to a 2% global rise in whisky volumes. Tequila also experienced growth, particularly in the ultra-premium segment, which rose by 8%.

In India, the industry is transitioning from a volume-driven market to one focused on quality, led by Gen Z demand for premium vodka, beer, tequila, and malts. Local single malt brands are gaining traction against imports. This trend is reflected in corporate performance, such as Globus Spirits, which reported a 35% growth in its prestige and above segment during the June 2026 quarter.

Industry professionals indicate a cautious outlook for 2026. While 56% expect purchase volumes to remain stable, only 19% anticipate positive growth as the sector faces pressures from price sensitivity, selective consumption, and competition from non-alcoholic beverages.