New Delhi, Sept. 1 -- United Breweries Ltd (UBL) expects its premium beer business to grow 20-25% annually over the next three to five years, nearly three times the pace of India's broader beer market, as the brewer steps up investment in premium brands and expands its canning capacity.

Premium products currently account for about 10% of UBL's business and are growing at more than 20% in volume, managing director and chief executive Vivek Gupta told Mint. The company is therefore stepping up investment in premium brands such as Heineken Silver and Kingfisher Ultra, while also expanding its canning capacity.

UBL, which sells Kingfisher Strong, Kingfisher Premium, Heineken, Amstel and other brands, in an exchange filing on Tuesday, announ...