MUMBAI: Bacardi, the world's largest privately-held, family-owned spirits company, has substantially increased its investments in India, with a 60% surge in manufacturing, marketing, and distribution outlays in recent years.

India has emerged as a crucial market for Bacardi, second only to Mexico among emerging economies. The company is keen to tap into the country's expanding economy, youthful consumer base, and vibrant cocktail culture.

Bacardi's business in India has witnessed a remarkable doubling between 2019 and 2023, with the company setting its sights on achieving a fivefold growth within the next decade.

The spirits giant is capitalising on the premiumisation wave sweeping the Indian alcoholic beverage market, as consumers increasingly gravitate towards high-quality products.

Projections indicate a substantial rise in affluent households in India, from 70 million currently to 170 million by 2030. This demographic shift is expected to drive demand for premium and above spirits, a trend Bacardi is eager to exploit.

As part of its expansion strategy, Bacardi has recently launched a slew of premium products in India, including Legacy, a made-in-India whisky brand, Teeling, an Irish whiskey brand, Patron El Cielo, a premium tequila, and Grey Goose Altius, a premium vodka. These products are being rolled out in the market in the first half of 2025, with additional new brands and variants slated for introduction in the second half.

Notably, Bacardi is eschewing the mid-market segment, which is dominated by brands such as Officer's Choice and McDowell's No 1, and instead focusing on the premium end of the market.

The company operates a manufacturing plant in Nanjangud, Karnataka, and works with 10 co-packers across the country. As demand for premium spirits continues to grow, Bacardi plans to expand its manufacturing presence to meet the increasing demand.

In addition to broadening its product portfolio, Bacardi is ramping up its promotional activities to deepen its market engagement. The company is partnering with bars and pubs in key metropolitan areas and cities, enhancing its visibility.

Furthermore, Bacardi is curating its own music festival, Casa Bacardi, to strengthen its brand presence and connect with a younger, trend-conscious audience.