Imported whisky growth cools second year running as India's premium-spirits boom normalises
IWSR data shows Scotch sales rose just 5% in 2025 versus a 17.4% CAGR over 2020-25, while Irish (+21% vs +58%), Japanese (+7% vs +17%) and American (+1% vs -8%) whiskies all decelerated. Diageo India insists the premiumisation thesis is intact despite discretionary-spend pressure.
What happened
Diageo India · Imported whisky sales in India slowed for a second year in 2025 across Scotch, Irish, Japanese and American categories as the post-pandemic
Key facts
- Scotch +5% in 2025
- Scotch CAGR 17.4% 2020-25
- Irish whiskey +21% in 2025 vs +58% in 2024
- Japanese whisky +7% vs +17%
- American whiskey +1% vs -8%
Why this matters
Cooling category growth opens a window to acquire sub-scale Irish or Japanese whisky brands at more rational valuations than 2023-24 peaks.