India Alcohol Market Projected to Reach US$ 111,238.9 Million by 2033 with a Robust CAGR of 7.0%

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 due to increasing urbanization, population expansion (especially in metropolitan areas), and rising disposable incomes. During this time, the nation's appetite for alcoholic beverages increased as bar and cocktail culture spread throughout major cities. The Indian alcohol market is anticipated to expand over the future years as a result of increased whisky consumption, particularly among urban consumers.

The Indian alcohol market is expanding at an incredible rate as a result of changing customer preferences, a rising middle class, and more cultural acceptance. The country's evolving drinking culture and economic progress are reflected in the increased demand for premium spirits and craft beverages in this dynamic environment.

The Indian alcohol market is expanding at an astonishing rate because of changing consumer preferences, a growth in the middle class, and a rise in societal acceptance. In this dynamic climate, increased demand for premium spirits and craft beverages reflects the nation's evolving drinking culture and economic progress.

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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 the 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, the 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.