India Alcohol Market To Reach INR 5,482,851.3 Billion By 2027 | United Spirits Limited, Tilaknagar Industries Ltd., Jagatjit Industries

India Alcohol Market is witnessing robust growth due to rapidly increasing urban population coupled with growing disposable income in the country

Market Overview

There are many types of alcohol, and they all contain the same basic ingredient: ethanol. The substance is produced through fermentation, typically from grains, fruits, and other sources of sugar. In many cultures, alcohol plays a social role, so it is important to know how to identify the types of alcohol and what they contain. While alcohol has several effects, the most common of these are related to gastrointestinal problems and brain damage. People who are regularly drinking will experience withdrawal symptoms after a period of abstinence. Alcohols are classified by their carbon atoms and their number of OH groups. A primary alcohol has a carbon atom attached to one other carbon atom, while secondary alcohol has two or three additional carbon atoms. Tertiary alcohols contain only two or three carbon atoms.

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Market Dynamics
Growing urbanization and increasing disposable income are expected to boost the India alcohol market growth over the forecast period. According to the World Bank, the urban population in India reached 34.926% in 2019, increasing from 30.93% in 2010. With a rapidly changing lifestyle, the consumption of alcohol and other alcoholic beverages has increased across urban areas in India. Therefore, such factors are expected to propel the India alcohol market growth over the forecast period.

However, strict government regulations on alcohol consumption due to rising number of road accidents are expected to hamper the India alcohol market growth over the forecast period.

Impact of COVID-19 Pandemic

The India alcohol market witnessed a significant decline during the COVID-19 pandemic. Many countries implemented strict lockdown policies, in order to constrain the spread of the virus. This resulted in the temporary suspension across manufacturing sectors, rendering a dip in economic growth. Since such policies were adopted by a majority of countries, the global supply chain industry also witnessed a significant negative impact in 2020. However, the India alcohol market is expected to regain its traction with gradual relaxation in the COVID-19 regulations and rollout of vaccines.

Key Takeaways
• The India alcohol market is expected to witness significant growth, registering a CAGR of 7.8% over the forecast period. This is owing to changing demographics and lifestyle choices across the country. According to the World Bank, the population of people aged 15-64 years reached over 928 million in 2020, increasing from 719 million in 2010.

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• Growing shift towards quality alcohol coupled with rising demand for premium quality alcohol beverages is expected to drive growth of the India alcohol market during the forecast period.

• Key companies involved in the India alcohol market are United Spirits Limited, Tilaknagar Industries Ltd, Jagatjit Industries, Mohan Meakin, Globus Spirits, Allied Blenders, and Distillers Pvt., SAB Millier, SOM Distilleries and Breweries, Carlsberg A/S, and Khemani Group.

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This release was published on openPR.