Cheers Group Triples Single-malt Production on Global Demand

The Indian single-malt whisky industry is still nascent, there are currently around 9 distilleries making Single Malt Whisky in India, compared to over 140 malt distilleries in Scotland. However, with growing popularity and acceptance, Indian Single Malt is competing with global brands and marking a niche of its own.

Goa based Cheers group, producers of popular Kadamba Single-malt whisky plans to triple its Single-malt spirit production capacity and has acquired additional land bank and the enhanced distillery capacities set to be fully operational soon.

Cheers group is currently exporting it's products to USA, Europe, UAE and other continents and Single-malt category is the fastest-growing segment for exports for the company. Once the full production of the upgraded Goa distillery commences, it is set to help the company boost its exports further. Cheers group will explore new markets for exports besides expanding its pan-India footprint for it’s Single-malt whiskies.

India’s rising affluent class is fuelling a surge in high-end wine and spirits sales registering double-digit growth, outpacing consumption rates in the US and China according to the recent research.

"In fact, pretty much every 'single malt' you buy is produced by 'vatting' or 'marrying' together dozens to hundreds of individual barrels of whisky" 

Dr. Mohan Krishna founder of Cheers group and World’s first liquor marketing Doctorate

Single malt whisky, for the uninitiated, is produced by a single distillery using a single malted grain (typically barley). According to FSSAI’s 2023 definition of Single malt whisky, it is made from only malted barley, in a still pot, at a single distillery. A quality single malt requires maturation of at least 3 years in an oak cask, which lends around 60% of its notes to the whisky. However, in markets like India, where we have a tropical climate, maturation takes less time.

"Many will certainly agree that the greatest diversity of flavour comes from Single-malt whiskies -- the traditional, single pot-distilled, malted barley form of whisky, aged for extended periods in oak barrels" 

Ashwin Balivada CEO of Cheers group, who mastered Business Management from Cambridge University UK.

Changing consumer preferences, coupled with a rise in living standards, have led to a growing demand for premium single malts, particularly among the young population. The global single malt whiskey market is projected to grow at a 7.94% CAGR over 2021-28, to reach a size of US$ 4.8 billion by 2028.

The US is embracing Indian single-malt  whiskies, numerous variables influence the single malt whiskey business in the United States. First, there is a greater demand for premium single malts due to growing consumer interest in artisan and premium spirits. Second, the market is rising because consumers are becoming more aware of the distinctive qualities and flavors that set single malts apart from classic blended Scotch whiskies. Third, single-malts are innovating flavour profiles and growing by the popularity of artisanal and regionally made beverages. Fourth, the market for single malt whiskeys is driven by growing consumer expenditure in premium spirits due to rising disposable incomes and the emergence of a whiskey connoisseurship culture.

Under the leadership of visionary founder Dr. Mohan Krishna and CEO Ashwin Balivada, Cheers Group has become synonymous with luxury in the beverage alcohol industry. Known for crafting iconic brands, the group has won over 200 National and International awards across its broad portfolio of ultra-premium spirits, placing its value at an impressive INR 650 crore. International select capital equity funds are eyeing stake in this innovative successful luxury conglomerate–poised for global expansion.

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