This makes the category a rare source of large-scale volume growth in a year when several international spirits segments struggled. Pernod Ricard’s Royal Stag moved into first place within the category, up 5.2% to 32.6 million cases. McDowell’s was close behind at 31.9 million, despite a slight decline, while Officer’s Choice fell 2.8% to 20.7 million. Imperial Blue, one of the category’s traditional giants, had a more difficult year, declining 11.4% to 20.3 million cases.

Last year, Iconiq White made history by topping the fastest growing ranking in consecutive editions across the entire Millionaires’ Club – this year it was the ranking’s second fastest grower, just missing out to a third top spot to a Radico Khaitan-owned brandy. Still, the Allied Blenders & Distillers’ brand more than doubled, rising from 4.5 million to 9.7 million cases. Royal Challenge also delivered a strong performance, up 16.5% to 10.6 million, while After Dark rose 87.5% to 3.0 million.

There was also impressive growth from Oaksmith, Suntory’s blend of Scotch malts, American bourbon and Indian grain spirit, which increased 44.6% to 1.5 million cases.

This paints a category not simply growing because of its largest legacy brands but also being reshaped by premiumising domestic portfolios that are capturing consumers within India’s vast whisky market.

Read the full ranking and all other category analyses in The Millionaires’ Club 2026.