L74 Cider Sales to Double in Goa, Plans Bengaluru Expansion

Mumbai, Sep 29 (PTI) Leading Indian cider manufacturer L74 is expecting a two-fold jump in sales in its key market Goa in the second half of this fiscal and plans to enter Bengaluru in November, a top company official has said.

The company, which started operations last fiscal with the launch of its drinks in Goa market, also expects to reach 1-lakh cases sales in the next fiscal as it looks to expand to other markets such as Hyderabad and Gurgaon, according to
L74 Director Kalp Patel.

Cider drinks market is an emerging segment in India, currently valued at around USD 124 million.

The company has received encouraging response for its cider drinks which are fairly new products for Indian consumers even as the country is perceived as a hard drinks market, said Patel.

“Quarter-on Quarter, the sales in Goa, we anticipate will be doubled in the second half of this fiscal.. Furthermore, we are adding another key market to our growing portfolio with Bangalore launch scheduled for November 2024,” Patel said.

Goa sees a major tourist inflow, both domestic and international, during the November-February period.

The company said it product range is available at over 250 retail points across Goa, and it expects to add 100 more this financial year.

“We're targeting Gurgaon and Hyderabad as our next potential markets for FY 2025-26. With our upcoming launch in Bangalore and an expanded presence in Goa, alongside geographical expansion into Hyderabad and Gurgaon, we expect to reach 1,00,000 cases in sales for FY 2025-26,” Patel said.

Patel said the company received encouraging responses from first-time users in India. he also said that the company bagged four medals, including two gold medals, at an international tasting competition -- International Cider Challenge 2024 -- in London recently. The challenge attracts wineries and cider markets from worldwide.

"We look to bring a world class product to the Indian market in a relatively new category,” he added.

As per reports, the global cider market was valued at USD 7 billion in 2022 and is expected to grow at a CAGR of 5 per cent from 2023 to 2032.