Bacardi India is poised to expand its premium spirits offerings by increasing launches and investments, especially in tequila and whiskey. The market shows a strong growth trajectory for premium spirits, with Bacardi aiming to capitalize on this trend amid rising competition. The company’s focus on premiumization aligns with consumer preferences for quality over quantity, highlighting the growing importance of premium brands in the Indian market.
Bacardi India plans to leverage the rising demand for premium spirits by introducing new products and increasing investment in its premium brands. With a focus on tequila and whiskey, the company anticipates a significant surge in its global portfolio launches over the next year, according to statements from company executives. Bacardi, known for its signature rum, also offers Patron tequila, Bombay Sapphire gin, Dewar’s scotch, and Grey Goose vodka, along with the recently introduced Irish whiskey, Teeling’s.
The alcoholic beverage industry in India is experiencing a shift towards premiumization, where consumers are opting for higher-quality spirits despite drinking less overall. This trend presents a substantial opportunity for Bacardi, as only 5% of India’s spirits market currently consists of premium brands, compared to 51% in other markets. As Bacardi aims to grow its premium portfolio, competition with brands like Diageo and Pernod Ricard intensifies as they also target the premium segment.
Bacardi India is set to enhance its presence in the premium spirits market through strategic launches and significant investments. The company’s robust growth in the premium segment underscores a wider industry shift towards affluent consumption. As Bacardi navigates increasing competition, the commitment to premiumization positions the company to effectively capture the evolving preferences of Indian consumers.
Original Source: www.livemint.com
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