Press release
India Alcohol Industry to Rear Excessive Growth During 2024 - 2031 | United Spirits Limited, Tilaknagar Industries Ltd
India Alcohol Industry
The India alcohol market is estimated to be valued at USD 55.81 Bn in 2024 and is expected to reach USD 92.57 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
Market Dynamics:
Rise in disposable income and changing lifestyle and consumption patterns of young population are driving the growth of the India alcohol market. As per government data, the per capita income in India doubled from Rs. 50,000 in 2014-15 to over Rs. 1 lakh in 2019-20. This increased disposable income enables young consumers to spend more on luxury items like alcohol. Secondly, increasing social acceptability of alcohol especially among youngsters is also fueling the market growth. Events like pub hopping, clubbing and house parties have given rise to binge drinking culture in metropolitan cities. ready-to-drink (RTD) products like bottled cocktails are gaining popularity due to the rising trend of social drinking. However, health consciousness among consumers may restrain the market growth to some extent.
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India Alcohol Market Drivers
Rising Disposable Incomes in India is Driving Consumption
As the Indian economy continues to grow at a healthy pace, disposable incomes of Indians have been rising consistently. The middle class population has expanded rapidly over the last decade which has increased spending power. Higher wages and earning potentials have allowed more Indians to spend discretionary money on luxury items and experiences including alcoholic beverages. This rising affluence is a major driver for increased alcohol consumption in urban as well as rural parts of the country. Liquor companies are actively targeting this consumer segment through innovative products, new flavors and aggressive marketing campaigns.
India Alcohol Market Opportunity
Ready to Drink Products Present Untapped Possibilities
The ready-to-drink (RTD) segment in India comprising caffeinated alcoholic beverages, flavored alcoholic seltzers and premixed spirit brands is still in a nascent stage compared to developed global markets. However, it holds enormous future prospects given the surging young consumer base that is highly influenced by global drinking trends. International spirits and beer companies are launching innovative Indianized RTD offerings targeting recreational and social drinking occasions. As product awareness rises and regulatory framework evolves to encourage innovation, this category is poised for exponential growth in the coming years.
India Alcohol Market Trends
Craft and Premiumization Push Upmarket Shift
Indians are gravitating towards superior product experiences to satisfy the evolved tastes of new-age drinkers. Small-batch craft spirits produced by niche local distilleries using indigenous ingredients have seen a sharp uptake especially among urban affluent cohort. Even large liquors players are bringing reserved collection and super-premium brands to India to tap into the premium end. This craft and premiumization drift mirrors global consumption patterns and points towards Indians developing finer discrimination for higher quality beverages. Mid-market and mass-market products now face stiffer competition as discerning drinkers move up the value chain.
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Top Companies Featured in This Report:
★ United Spirits Limited
★ Tilaknagar Industries Ltd
★ United Breweries Limited
★ Jagatjit Industries
★ Mohan Meakin
★ Globus Spirits
★ Allied Blenders and Distillers Pvt.
★ SAB Millier
★ Radico Khaitan Limited
★ Khemani Group
★ SOM Distilleries and Breweries
★ Carlsberg A/S
★ Som Distilleries And Breweries Limited
★ Khoday India
★ Amrut Distilleries
★ Amber Distilleries Limited
★ Carlsberg India
★ Raj Innotech
★ Anheuser-Bush InBev SA/NV
★ White Rhino Brewing Co.
Market Segmentation:
By Product Type:
★ By Beverage Type: Beer, Spirits (Whisky, Vodka, Rum, Gin, etc.), Wine, and Others
★ By Price Point: Premium/Luxury, Mid-range, and Economy/Value
★ By Distribution Channel: Supermarkets and Hypermarkets, Specialty Liquor Stores, Online Platforms, and Bar and Restaurants
Key Regions/Countries Classified as Follows:
» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
Key Insights from the Global India Alcohol Market Analysis:
Market Size Evaluation: Assessing the value and sales volume of the India Alcohol market spanning from 2024 to 2031.
Market Trends and Dynamics: Analyzing the drivers, opportunities, challenges, and risks influencing the India Alcohol market.
Macro-economic and Regional Impacts: Exploring how global inflation and geopolitical events affect the India Alcohol market.
Segment Analysis: Examining the market value and sales volume of India Alcohol by type and application from 2024 to 2031.
Regional Market Overview: Assessing the current situations and future prospects of the India Alcohol market in different regions.
Country-level Studies: Providing insights into revenue and sales volume for major countries within each region.
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the India Alcohol sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
(LinkedIn: https://www.linkedin.com/in/alice-mutum-3b247b137 )
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Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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