Bacardi lines up fruity burst

Your booze dose got healthier!!!

• Launched in 2002, Bacardi Breezer instantly became an easy-to-drink option for the drinking crowd especially the younger generation.
• The brand, which boasts of a clutch of premium spirits in its portfolio such as Grey Goose Vodka, Bombay Sapphire Gin, Bacardi rum, among others, is perhaps expanding its Breezer range to tap into India’s minuscule but growing market for low or no alcohol beverages.
• Since 2002, the brand now holds about 90% share of the RTD market, with a 26% increase in volume and value as per IWSR, a provider of global beverage alcohol market data to beverage alcohol brands. The ready-to-drink market in India is experiencing a remarkable surge itself, with industry analysts projecting a compound annual growth rate (CAGR) of 10.29% in value and 12.15% in volume from 2021 to 2026, according to Triton Market Research.
• To strengthen its presence in the alcoholic fruit-flavoured drink category it launched a Watermelon Mint variant for the summer.
• To continue with its fruity legacy, Breezer recently launched a new Mango Peach flavour, backed by consumer feedback and a lot of R&D. This caters to the evolving taste of the Indians.
• These newly launched frooty flavoured drinks are an ode to ‘alcopop’ which refers to a sweet, carbonated alcoholic beverage that typically combines spirits, such as Bacardi rum, with fruit flavors and soda.

What is happening in the alcoholic beverage market?

• Report says Indian Alcoholic Beverage likely to grow by 7% compound annual growth rate (CAGR) in the next ten years.
• In 2023, the size of the Alco-Bev market was about US$ 55 billion in India against USD 52.4 billion in 2021.
• According to International Labour Organization (ILO) estimates, 30.7% of the labour force is employed in the services sector. Over 600 million people in India are between 18-35 age.
• The demographic dividend in India is predicted to last at least 30 years and peak in 2041, i.e., when the proportion of the working-age population (20–59 years) is predicted to reach 59%.
• It is a golden opportunity for India to reap the benefits, further indicating an ideal environment for the liquor market. Currently, 33 per cent of the Indian population is of drinking age.
• According to Confederation of Indian Alcoholic Beverage Companies estimate the growth to slow down in 2024 considering the high level of growth and difficulty in long term sustenance. It also feels with the assembly elections in five states, the supply chain is bound to be hampered.

Editor’s Note

India is the third largest alcoholic beverage market in the world with an estimated volume of over 970 crore liters per and a mammoth economic contributor accounting for about INR 3 lakh crore in taxes to several state governments. This robust sector provides livelihood to about 50 lakh farmers.