Grain whiskey production in Russia is set to grow rapidly, rising by more than 30% by 2024. This was reported by “RBC Wine” With reference to data from the analytical study “Eta.Lab”.
According to NielsenIQ, the segment grew by 22.6% in volume and 29.2% in value in the first half of 2024. Experts predict that the market volume will reach 10 million deciliters by the end of the year. Sales in the first six months of 2024 amounted to 4.35 million decaliters.
Market growth is primarily due to the increase in Russian production. According to Eta.Lab, the 20 most popular brands account for 89.5% of whiskey sales, while seven of them do not specify the country of origin of the spirits, and the other six are bottled in Russia.
“Today, about 60 percent of natural sales in the whiskey category are Russian-made. The leader in this category is definitely grain whiskey,” said the whiskey producing company ASG.
“For example, according to the results of the first half of 2024 according to NielsenIQ, our grain whiskey Fowler’s ranks third in sales among all whiskeys on the Russian market,” says LADOGA president Veniamin Grabar.
Experts attribute the popularity of grain whiskey to its affordable price. The average cost of a 0.5-liter bottle is 500-600 rubles, which is significantly lower than imported analogues, prices for which start from 1.3-2 thousand rubles.
At the beginning of August, the Russian government raised Import duties on alcohol from unfriendly countries. The customs value rate for whiskey, vermouth, gin, vodka, liqueurs and alcoholic tinctures has been increased to 20 percent.
Previously in Russia by a third decreased vermouth production.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.