"India Vodka Market Overview, 2018-2023’

Adding flavours to plain white vodka, flavoured the Indian vodka market to achieve new heights: Bonafide Research
Before the advent of the flavoured vodka boom, the unflavoured vodka was simply known as, “vodka”. In the beginning of second decade of 21st century many of the companies in Indian Vodka market came up with new and attractive flavors. which attracted different demographic segments towards Vodka.
According to report "India Vodka Market Overview, 2018-2023’ published by Bonafide Research, The Indian Vodka market observed growth with a CAGR (Compound Annual Growth Rate) of more than 12% between years 2011-12 to 2016-17. The market achieves a milestone market size by volume of more than 10 million cases in year 2016. This was a period when the trend of flavoured vodka immerged in India, which primarily boosted the vodka sales in India. The other major factors for growth were the great economic development achieved by India resulting into increase of disposable income which is wisely spent for luxury and leisure, changes in demographics, increasing bar culture etc.
Two of the most important demographic segments were highly attracted towards the flavours of Vodka in India. The first was the one for which India is most popular i.e. the youths. The young generation of India which is found of challenges, achievement seekers and get easily bored with daily regular stuff were provided a wide range of choice. Youths preferred to discover and taste all the flavours and were soon found to be consuming their favourites once.Vodka has become a starting drink of choice for the youth in most of the metros and tier II cities. Female segment is the other major segment attracted toward Vodka in India. The women consumption of alcoholic beverages in India is on rise, while most of them are highly attracted towards vodka and consider vodka to be gender neutral. With Increasing women education, the presence of women found to be increasing workforce of many industries. This has led to increase the independence of women and made it easy for them to adopt such drinks.
The market is further expected to continue its growth in double digit figure in terms of value as most of the companies in Indian market are focusing on taking advantage of increasing purchasing power of consumer by means of premiumization. The firms are making efforts to upgrade their prestige segment consumer towards premium and super premium segments. While on the other hand the consumers preferences are also changing as people are becoming more and more brand conscious and tend to prefer the trending and famous brands.
Major Companies
Major companies that operate into the vodka market in India 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, Amrut Distilleries Private Limited, SOM Distilleries and Breweries Limited, Bacardi India Private Limited.

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This release was published on openPR.