Premium alcohol range on the rise despite global cost of living crisis, says Euromonitor International expert
Premium alcohol brands have continued to grow and sell in the face of the global cost of living crisis, reveals a Euromonitor International expert. Spiros Malandrakis, Head of Alcoholic Drinks at leading market research firm Euromonitor International, said that from champagne to ultra-premium English gin and from Tequila to prestige Dark Rum all the way to non-alcoholic spirits and aperitivo-embracing bitters, premiumization remains firmly in the spotlight. “This is premiumisation against all the odds. Aspirational momentum is overcoming the cost of living crisis. In fact, iconic segments that are now intricately associated with aspirational consumption and increasingly higher end offerings are among the top sales performers,” said Spiros.
The purchase of premium wines, spirits and non-alcoholic alternatives by consumers during the steepest inflationary spirals in modern history reflects the diverse range of consumer behaviours and motivations that exist within a population. For many consumers indulging in premium products is seen as a way to enjoy occasional luxuries or as a form of escapism. The consumption of premium wines and spirits can also be viewed as a status symbol or a reflection of personal taste and sophistication. Some consumers are willing to allocate a portion of their income to maintain their desired lifestyle, impress others and demonstrate their social standing or expertise in the field of wines and spirits.
Spiros said: “The inexorable march towards ever more premium offerings has been a key theme and driver for the alcohol industry for decades and there is no category that remains impervious to the trend’s relevance and long-term appeal. As one of the steepest inflationary spirals in modern history places extraordinary pressure on drinkers’ discretionary incomes, the premiumization mantra is being put to the test and the results are proof of how solidly embedded it has now become. Contrary to expectations and parallels to previous recessionary cycles, there are no significant signs of sustained or heavy trading down - at least not just yet!”
(Excerpt from a release)
The National Barista Championship 2023 (The 21st Edition), hosted by the Coffee Board of India, Speciality Coffee Association of India, and United Coffee Association of India, is being organised from February 14th to 19th at Orion mall, Bangalore. With over 60 stalls offering more than 100 different types of coffee, the audience will be experiencing the largest collection of coffee ever under one banner. This year NBC is powered by Kaapi Solutions as the platinum sponsors along with Nescafe and SCAI (speciality coffee association of India) as the Gold sponsors) as the Gold sponsors for the event.
This year will have around 60 Barista battling it out for the Title of Champion. Making it the biggest tournament in Asia. NBC is a prestigious annual event in the coffee industry where baristas from various regions of India come together to showcase their brewing skills and compete for the title of the National Barista Champion. All the best cafe brands such as Blue Tokai, Thirdwave, Lavazza along with many other speciality coffee brands all over India will participate in this unique event.
This year's National Barista Championship is set to be the most competitive yet, as baristas push the boundaries of what is possible with coffee. A very strong committee has been set up where the volunteers under the guidance of Mr Purnesh DM (President of the Speciality coffee association of India), Mr Vikram Khurana (President United coffee association of India) and Mr Srikanth Rao (Vice President United coffee association of India) who shares the same passion for coffee and have worked tirelessly to put this event together.
The event provides a unique opportunity for attendees to network with industry leaders, learn about the latest trends and techniques in coffee preparation, and sample some of the finest coffee blends from around the world.
"We are thrilled to host the National Barista Championship in Bangalore," said Dr K G Jagadeesha, IAS, Secretary of the Coffee Board. "This city has a rich history and culture of coffee-making, and it's an honor to bring the best baristas from top cafe brands, and specialty coffee brands from all over India to compete here. Last year's event, held at Orion Mall in Rajajinagar, was a huge success with over 10,000 visitors, a multitude of coffee, 40+ stalls, and lively music. We look forward to welcoming both the competitors and the public to this exciting event."
The competition, which will be held over 6 days - 14th to the 19th of Feb. This includes the preliminaries which will happen on the 14th -15th and the 16th post which 18th will be the semi-finals and it concludes on the 19th with the finals. The second day will feature the final round, where the baristas will be judged on their latte art and signature drinks. The winner of this highly regarded competition will then go on to represent India at the World Barista Championship 2023 to held in Athens, Greece.
Wild Drum, an Indian brand has launched hard-seltzers, a clear carbonated beverage infused with natural fruit flavorings. Wild Drum offers the refreshing beverage in four flavours: Peach, Pure, Mango, and Lemon-Mint.
Hard- Seltzer is a fresh, new category of beverage that is gaining skyrocketing popularity all around the world. Wild Drum is a refreshing drink made with clear carbonated water, alcohol and is infused with natural fruit flavorings.
Launched in August 2021, this seltzer at 99 calories per serving is now available in Maharashtra, Goa and Madhya Pradesh.
(Excerpt from a press release)
It is priced between RS 150-200 and the alcoholic strength ranges from 4.75% to 8%.
Salud Beverages Raised USD 1.1 Million That Aided Its Robust Expansion Plans and Diverse Product Portfolio
Bangalore, Karnataka, India
Salud Beverages, an Urban Lifestyle brand that was launched in Karnataka earlier this year, raised USD 1.1 million as of March 2021.
Salud Beverages, an Urban Lifestyle brand that was launched in Karnataka earlier this year, raised USD 1.1 million as of March 2021. The VC fund, comprising actors and HNIs includes serial entrepreneur and leading Indian actor Rana Daggubati, and former Managing Director of Microsoft India, Srinivas Koppolu, among others backed by Prasad Vanga’s Anthill Ventures.
The fund was primarily used to establish a formidable retail presence with flagship brand Salud G&T 2.0, a bottled gin and tonic cocktail, as well as to build a diverse product portfolio. This resulted in G&T 2.0 being available in over 500 retail outlets, with 250,000 bottles sold and a consumer base that is growing every passing day.
After successfully launching the brand in Karnataka, bringing out the country's first RTD gin and tonic in a bottle, Salud followed it up by introducing Salud Merch and Salud Sessions. Salud Merch offers an exclusive range of fashion and lifestyle merchandise and accessories. Salud Sessions, the music label, collaborates with leading DJs from around the country creating compilation volumes of electronic beats, accompanied by music videos.
Sharing his views on Salud’s journey so far and about the market at large, Ajay Shetty, Founder-Director, Salud Beverages said, "We are a focussed brand striving to put India on the global map, alongside the best countries in the world, with some of the finest spirits including bottled cocktails, craft spirits, non-alcoholic beverages and more. And not to stop there, but continue to innovate with products and experiences that will lead to a loyal consumer base, on the way to our big-picture goal of becoming an aspirational global lifestyle brand."
Ready-to-drink (RTD) cocktails are fast becoming the drink of choice – from millennials to connoisseurs alike. Everybody is warming up to the idea of bottled cocktails, and it cuts across demographics, culture and lifestyle.
Salud G&T 2.0 is currently available in three refreshing flavours - Original, Cucumber and Lavender, all of which are distilled in Goa. These bottled cocktails are made of English Juniper, botanicals sourced from Europe, and the finest Indian tonic, giving consumers a premium quality experience with affordable pricing.
The Indian alcobev ecosystem has become increasingly dynamic in recent times. This is a result not only of many players entering the market but also the appetite of a consistently growing consumer base that has shown great interest in healthier, more responsible and more unique and modern drinking options. Reports indicate that the global size of RTD cocktails market is expected to clock USD 1775.1 million by 2028, and India is ripe with potential, ranking among the top 3 largest alcoholic beverage markets in the world.
In the coming days, Salud will expand its footprint into other markets such as Goa and Orissa and additional domestic markets. It will also be adding new flavours to the G&T 2.0 range, as well as expanding with new offerings in both, the alcoholic and non-alcoholic beverage segments. It expects to triple its current sales by the end of FY 2021-22. Entering international markets in the Middle East and Europe is also a part of the long term strategic plan that should materialise by the end of the year.
(Excerpt from a release)
True to its commitment of investing in 'Make in India', French gourmet flavour business, Georges MONIN SAS (MONIN) has announced an investment of INR 200 crores for its first phase of setting up the manufacturing plant in Telangana. MONIN had signed an MoU with the Department of Industries & Commerce, in 2018 Telangana and announced an initial investment of INR 100 crores to set up a manufacturing plant in India. The French business has since opened its wholly owned subsidiary in Hyderabad as MONIN India Pvt. Ltd and has acquired 40 acres of land for its manufacturing site. It has also set up an in-house R&D centre in Hyderabad which is key to understanding the Indian flavour palette and developing new flavours and product categories on top of MONIN’s existing range of popular flavours.
Despite the setback due to the Coronavirus pandemic, the French company has now doubled its investment for the plant, targeting completion by 2023. "With the increased investment of 200 crores, India remains a top-priority market for MONIN," says Olivier Monin, Chairman, Georges MONIN SAS. "We have come a long way since our first tryst with India 23 years ago - from supplying our portfolio through a single distributor, to setting up our subsidiary and R&D centre and now on a steady path towards an entire green-field facility – it has been nothing short of a resilient success story for our family-run business, and we have India to thank for it."
Known to derive inspiration from connecting with communities and driving innovation, MONIN has also announced its first state-of-the-art MONIN studio in India, at The Dhan Mill, New Delhi. This unique experience centre, set to open by second half of August, would be vital to engage with the local Horeca professionals and create unique tasting experiences around MONIN products in the country. "MONIN brings more than a century of traditional artisanal beverage know-how to cater to Indian hospitality professionals and consumers," says Germain Araud, Managing Director, MONIN India Pvt. Ltd. MONIN is globally renowned as the brand of choice for hospitality professionals (bartenders and baristas). With over 150 flavours across 150 countries, MONIN has sold over 100 million bottles all over the world.
(Excerpt from a release)
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