By October, the first location of Pune-based Oi Brewing Company’s draught beer business, which sells its product under the brand Oi, will open in the upscale Kalyani Nagar neighbourhood of the city. Domestic draught beer sales are still in their infancy and are concentrated in major cities like Bengaluru, which has the most competitors (over 50), Delhi-NCR, Pune, and Mumbai. All of these cities are run by small-time players. According to industry publication Statista, the domestic beer market, which is estimated to be worth USD 15 billion, will grow annually by 8.2% between 2023 and 2027 to reach 5.81 billion litres, giving draught beer a revenue and volume share of just under 1%.
The article also predicts that 24% of spending and 16% of volume in the beer segment will come from consumption outside the home, such as in bars and restaurants. Subash Cipy, a chemical engineer from Thrissur, Kerala, who founded Cipy Polyurethanes in Pune in 1994 with the Osho Centre as its first customer, promotes Oi beer. The floor coating company was acquired by Pidilite Industries, the market leader, in January 2018 for a cost of about Rs 200 crore, first for a 70% stake in an all-cash deal and then for the remaining stake in 2020. Cipy remains the chairman of Cipy Polyurethanes, which manufactures and markets floor coatings using polyurethanes, epoxies, polyurea, and polyaspartic polymers, despite making a complete exit.
Post Your Comments