Inox India eyes a bigger global pie for beverage kegs after approval from Heineken and ABinBev

India's beverages segment has seen a rapid expansion with global players such as ABInBev, Carlsberg and Heineken ramping up investments and announcing capex to the tune of Rs 3500-4000 crore, leading to a surge in the demand for steel kegs as breweries scale up capacities.

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26 Aug, 2025 12:21

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Inox India, the makers of cryogenic equipment and tanks, has bagged approvals from leading global breweries - Heineken and ABinBev - for its stainless steel beverage kegs manufactured at the Gujarat plant, a company filing said on May 27, sending shares higher by close to 4 percent.

The approvals pave the way for commercial engagements with the breweries, which Inox India hopes will result in the company turning into a preferred supplier. This approval has come only a few quarters after the company’s entered into the keg manufacturing space, in September 2023.

Deepak Acharya, the CEO of INOX India called this a 'defining moment' for the company's progress in the keg manufacturing business and hoped it will lead to opening up of a wider global market for the company.

"We are confident that this milestone will pave the way for deeper collaborations and wider global market access in the years ahead," said Deepak Acharya.

India's beverages segment has seen a rapid expansion with global players such as ABInBev, Carlsberg and Heineken ramping up investments and announcing capex to the tune of Rs 3,500-4,000 crore, leading to a surge in the demand for steel kegs as breweries scale up capacities. "Our own production has reflected this growth with the keg volumes surpassing 50,000 units over the past year, catering to customers across US, Europe and India." said Inox India.

As the major users in US depend on global suppliers, Inox India said it well-placed due to zero anti-dumping on the company, implying the company can potentially supply on a regular basis. Several of the Chinese manufacturers do not have all the global certifications and there is a lot of anti-dumping duty on them, making Inox India better-placed to cater to a global market for stainless steel kegs.

"Investments have also been made in tooling and customization capabilities such as embossing and engraving to meet the branding requirements of global customers," said the CEO, adding, "We are confident of receiving approvals from more brewing majors in the due course of time."

According to Inox India, there are almost 120 million kegs available in the global market, with a 4-5% replacement demand annually, implying almost 4-5 million kegs required each year. "...the present manufacturers in Europe and maybe China have a capacity to produce around 3-4 million kegs. And there is always a shortage of 1 million to 1.5 million kegs in the market," Deepak Acharya had said during the recent earnings call.

Inox India said it offers range of stainless steel beverage kegs in several international formats, from 10-60 litre capacity, suitable for beer, wine, cider, juice, kombucha, coffee, and more. The kegs manufactured by Inox India are "fully compliant with international safety and environmental regulations", and are made from high-grade stainless steel sourced domestically, said the company.