India Vodka & Gin Market Outlook, 2023

Will increasing parties and growing bar culture be a boon for Vodka and Gin market in India? -Bonafide Research

India achieved some great economic development in past few years which has increased the purchasing power of Indians. With increasing money to spent many of the them are found to be more focusing on health, luxuries and leisure to reduce their daily stress.

According to report ‘India Vodka and Gin Market Outlook,2023’ published by Bonafide Research, the consumption of Vodka and Gin in India is on a rise. The Vodka and gin market of India observed growth with a CAGR of more than 12% during the period of 2011-12 to 2016-17. Where new flavours immerged in the market and the market of become more flavour full with increase of variants and flavours in these white spirits. The period shows increasing consumption of alcoholic beverages by women. They were primarily found of consuming Vodka and gin owing to its flavours, less smell and causing less drunkenness. While a large section of youth was found of attracted with these flavours. The consumption of Vodka and gin is observed to be growing with increasing awareness with growth of social media and increasing effect of western culture in India. The consumption of vodka and gin is found to me more in tire1 and tire 2 cities of India owing to large number of youths in these cities which travel here for studies or are in beginning of their career.
With rising economical development, the stress level of employees is also rising. Their life is getting a lot busier &stressful. The increasing work load has made life harder making it complicate to find work life balance, which results in to anxiety, physical and mental stress. These has resulted in increasing alcoholic beverages consumption. people in tire 1 and tire 2 cites now prefer to go to bars and clubs to consume their favourate drink. A large segment of working people prefers Vodka and gin over other beverages as it provides both the please of drinking alcohol and causes less drunkenness as they have to go to work early morning.

While talking about the youth generation and their preferences the first word that comes in mind would be ‘parties’. The youth generation in India is more found of parting late night and enjoying their life at restaurants, clubs and performing nigh outs with their friends. With rising use of social media and increasing video streaming, they come close to many of the contents congaing such drinks and get attracted towards them. The students are getting highly attracted with vodka and gin as they provide better variants in term of flavours and price. This has primarily increased the awareness and consumption of vodka and gin in India.

Major Companies
Major Companies operating in the Vodka & Gin market of India are Pernod Ricard India Private Limited, United Spirit Limited (Diageo Group), Radico khaitan Limited, Allied Blenders and Distillers Private Limited, Jagatjit Industries Limited, John Distilleries Private Limited, Tilaknagar Industries Limited, Modi Illva India Private Limited, SOM Distilleries and Breweries Limited and Bacardi India Private Limited.
Report link: https://www.bonafideresearch.com/product/180620281/Indian-Vodka-and-Gin-Market-Outlook2023
Report: India Vodka and Gin Market Outlook,2023
Base Year: 2016-17, Estimated Year: 2017-18, Forecast Year: 2022-23

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This release was published on openPR.