Expanding its footprint in India and extending its franchise agreement with Indian partner Ace Hospitality, independent Scottish brewer and retailer BrewDog has decided to open 25 more bars in Indian to grow its presence in craft beer market and making it double in size by 2050.
Ace already operates two venues in Mumbai and plans to open new venues in Gurugram and Hyderabad next month, with two more in Amritsar and Chandigarh under construction and opening before the end of the year.
The planned openings and the present Mumbai sites will put BrewDog’s venues in cities with a total population of almost 33 million people. The pipeline also includes a flagship site in Delhi, with a population of 19 million.
The latest Indian deal comes after BrewDog’s announcement of a new bar franchise deal for Australia with Australian Venue Co, which will see multiple sites opened across cities including Melbourne, Sydney, and Brisbane.
James Brown, Managing Director of BrewDog’s bar business, said, “We’re delighted to extend our relationship with the Ace Hospitality team to bring our bar experiences to more customers across India. The craft beer scene is young and dynamic, and the response from the local community has been incredible so far.”
Rohit Jain, chairman, Ace Hospitality said, “We are indeed proud to embark on this ambitious journey as partners to BrewDog in India and to introduce unparalleled craft beer culture to our guests. The initial amazing response, including recent awards and recognition from the industry, strengthens this belief. We share the same zeal and passion and are committed to expand the brand’s footprint across India within a short span.”
BrewDog is also expanding in the US, with a Las Vegas bar next in the pipeline there, while a flagship bar in London’s Waterloo is set to open later this year. The latest plans build on last year’s 21 per cent revenue growth for BrewDog despite Covid restrictions impacting its venues during the first half of 2021.
Since 2007 BrewDog has been on a mission to make other people as passionate about great craft beer as we are. Co-Founders James Watt and Martin Dickie shook up the business world in 2010 with the launch of the pioneering crowdfunding initiative Equity for Punks, an initiative that has seen the company raise more than USD 100M (nearly 78 crore) in the past 11 years.
The funds and the community of Equity Punk shareholders (>200,000) has enabled the Scottish craft brewery to scale up without selling out. With over 102 bars across the globe, export into 60 countries, and a new brewery plus taproom in Brisbane that launched in 2019, BrewDog continues to take the craft beer revolution stratospheric, whilst continuing to push the boundaries, invest in people, put the beer first, and champion other small breweries in its venues.
Indian Beer Market Size And Growth Forecasts 2021-2025
Alcohol consumption has become a part of social interactions among young people in India. The beer market is slowly gaining prominence, owing to an increase in disposable income, preference for low-alcohol beverage, and growing social acceptance. Some of the main players that operate in the market are Mohan Meakin Ltd., Arbor Brewing Company India, United Breweries Ltd. (UB Group), and B9 Beverages Pvt. Ltd. (Bira 91).
In terms of volume, the beer market was valued at 5,533.73 M ltrs in 2020 and is expected to reach 9,004.74 M ltrs by 2025, expanding at a Compound Annual Growth Rate (CAGR) of 10.89 per cent during the 2021-2025 period.
Craft beer is estimated to be the fastest-growing segment during the forecast period. The strong beer segment is expected to reach 5,728.16 M ltrs in terms of volume by 2025 continuing to be the dominant segment. The craft beer segment is expected to grow at a rate of 108.59 per cent in terms of volume over the forecast period.
Source – Franchise India