India Alcohol Market Poised to Reach US$ 111,238.9 Million by 2033, Fueled by a Steady Growth Rate of 7.0% | Future Market Insights

The India alcohol market is predicted to be worth US$ 54,740.0 million in 2023, rising to US$ 111,238.9 million by 2033. During the projection period, India alcohol sales are expected to grow at a substantial CAGR of 7.0%.

The Indian alcohol market expanded during the research period as a result of growing urbanization, population growth (particularly in metropolitan areas), and rising disposable incomes. The demand for alcoholic beverages increased during this time as pub and cocktail culture gained popularity and acceptance in metropolitan regions. In the upcoming years, it is projected that the Indian alcohol market will grow as a result of increased whisky consumption, particularly among urban consumers.

The Indian alcohol market is growing at an astonishing rate as a result of changing lifestyles, increased disposable incomes, and a growing young population. Additional factors promoting the expansion of the alcohol industry include an increase in social gatherings and festivities and rising urbanization. The craze for high-end and artisanal spirits is another factor driving this surge.

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The country's changing demographics will accelerate the expansion of the target market even further. Between the ages of 18 and 25, a large share of the population is in this bracket. Furthermore, the country's median age is thought to be around 27 years. These demographics are expected to support the expansion of the Indian alcohol market, despite the fact that the legal drinking age varies by state in India. Furthermore, higher expenditure on various lifestyle, food, and beverage items, including alcohol, will almost likely be a consequence of rising per capita disposable income. Again, there has been a major change in Indian lifestyle in recent years, especially among the urban population. With pub and cocktail culture being widely adopted, the future of the Indian alcohol sector is bright.

Though the IMFL segment leads market growth, beer, country liquor, and wine segments follow closely after the category and aid the expansion of the Indian alcohol market.

-Key Takeaways:

-The Indian Made Foreign Liquor (IMFL) segment is estimated to exceed a value of US$ 40 billion while registering a CAGR of 5.2% between 2016 and 2026.
-IMFL will account for 66% of the total market revenue during the period of observation.
-Beer, country liquor, and wine will follow closely after the IMFL segment during 2016 and 2026.
-Andhra Pradesh and Telangana are the two states that are estimated to contribute significantly to the overall growth of the Indian Liquor Market.
-Andhra Pradesh and Telangana have the highest number of alcohol consumers in the country.
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Competitive Landscape

Allied Blenders & Distillers Pvt. Ltd., Bangalore's SAB Miller India Ltd., and Tilaknagar Industries Ltd., among others, are some of the dominant players in the Indian alcohol market profiled in the full version of the report.

Leading market players are keen on product development and facility expansions. These organizations also adopt diverse organic and inorganic business strategies to improve their market position.

More Insights Into Indian Alcohol Market

In its latest report, FMI offers an unbiased analysis of the global Indian alcohol market, providing historical data from and forecast statistics for 2016 to 2026. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (IMFL (brandy and cognac, rum, whiskies, white spirits, others), Beer (mild, strong), Wine (red wine, white wine, rose wine), country liquor), make (imported liquor, IMFL, foreign liquor bottled in India, Indian made Indian liquor), gender (male, female), ingredients (grains, molasses, fruits, and vegetables), distribution market (government controlled, open market, auction market), and region.

According to the same reports, based on segmentation, the IMFL category will dominate the market with a CAGR of 5.2%. This category will surpass US$ 40 billion and account for 66% of the overall market revenue. Based on region, the South Zone will likely make substantial contributions to the total market growth. Owing to the presence of a large number of alcohol consumers, Andhra Pradesh and Telangana are estimated to dominate the market. In brief, adoption of the 'pub and cocktail' culture, a growing urban population, shifts in lifestyles, and increasing disposable income will aid the growth of the Indian alcohol market during the projection period.

-The key segments covered in this report are:

-By Type

IMFL
Brandy and Cognac
Rum
Whiskies
White Spirits
Others
Beer
Mild
Strong
Wine
Red Wine
White Wine
Rose Wine
Country Liquor

-By Make
Imported Liquor
Indian Made Foreign Liquor
Foreign Liquor Bottled in India
Indian Made Indian Liquor

-By Gender
Male
Female

-By Ingredients
Grains
Molasses
Fruits and Vegetables

-By Distribution Market
Government Controlled
Open Market
Auction Market

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This release was published on openPR.