The IMARC Group projects that the Indian beer market would develop at a compound annual growth rate (CAGR) of 8.1% from 2023 to 2028, finishing at Rs 38,360 crore in 2022 and predicted to reach Rs 62,240 crore by 2028.
Mount Everest Breweries Ltd (MEBL), an affiliate of Associated Alcohols and Breweries Ltd (AABL) with its headquarters in Madhya Pradesh, is increasing the production of its signature beer brand, STOK. The organization is managing its inventory better and maintaining a steady supply of ingredients.
“We aim to venture beyond our established lager and strong variants by introducing our wheat variants into key summer states soon. We plan to partner with breweries in Karnataka and Assam, hoping to increase and build a stronger customer base in these states,” stated Vedant Kedia, Chief Growth Officer at MEBL, as reported by Business Standard.
“The larger macro trends remain very positive for beer with it being a more socially acceptable alcoholic beverage than spirits. Higher spending and resultant socialising are on the rise and beer benefits on account of this. Last but not least, the rising temperatures make consumers prefer chilled products like beer and RTDs (ready to drink) over spirits when the heat is on,” added Gurpreet Singh, co-founder and director at WoB.
According to a WoB poll on the beer market, more than 85% of customers have never had craft or flavor-infused beer and are looking for options with an ABV (alcohol by volume) of 8% or more. But these products have mostly only been available to a small market segment of less than 5% of consumers who enjoy premium light beer and craft beer.
“On ‘Disco Panda’, we have played the spectrum across higher alcohol strengths, as well as different offerings including flavours, all with an objective to cater to smaller taste segments, which the larger manufacturers usually ignore,” wrapped up Singh.
