India alcohol Market Status Review and Future Development Overview 2024 - 2031 | Arcoy Biorefinery Pvt. Ltd., Corporation

Market Overview:

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:

Rising disposable incomes and changing lifestyle preferences are expected to drive growth of the India alcohol market over the forecast period. Higher spending capacity is allowing consumers to indulge in premium alcoholic drinks. Moreover, growing social acceptance of alcohol is also fueling market expansion. The market is further driven by increasing numbers of bars, restaurants, nightclubs and pubs offering wide ranges of alcoholic beverages. Urbanization and westernization are positively impacting alcohol consumption patterns in India.

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India Alcohol Market Drivers: Rising Disposable Incomes in India is Leading to Increased Alcohol Consumption

Higher disposable incomes paired with increased urbanization has led many Indians to consume alcohol as a sign of status and better lifestyle. As average incomes rise in India's growing middle class, more money is available to spend on luxury and recreational items like alcohol. Sales data shows alcohol consumption has risen the most among young urban professionals who see it as a way to socialize and unwind from long work hours. The growing acceptance of alcohol in social settings has made it a normal part of urban socializing. This driver of increased discretionary spending on alcohol is expected to continue propelling growth in the India alcohol market for the foreseeable future.

India Alcohol Market Opportunity: Online Alcohol Sales Platform Providing Untapped Growth Avenue

Though online sales of alcohol were banned for many decades in India due to regulatory reasons, the market opened up to e-commerce platforms in recent years. This provides a huge new opportunity as internet and smartphone penetration increases rapidly among young urban Indians. Consumers find online shopping convenient to avoid stigma or hassles of purchasing alcohol from physical stores. Many new startups are emerging to tap into this white space with customized online store experiences. They leverage data-driven insights to cater selections based on location and preferences. The untapped potential of online retailing provides a doorway to reach more customers and unlock fresh demand, thus serving as a key growth opportunity for alcohol producers and retailers in India.

India Alcohol Market Trend: Emergence of Premium and Craft Segments as Mass Markets Mature

As rising affluence expands the Indian middle class and their spending power, consumer tastes are gradually evolving beyond basic low-cost alcohol. Emerging trends point to growing popularity of premium brands as well as craft and artisanal alcoholic beverages. Craft distilleries are gaining traction by producing superior quality small-batch spirits with interesting flavors. Consumers display greater willingness to pay higher price points for uniqueness and finer experiences. Beer and wines - previously niche imports - are gaining wider acceptance. Breweries are diversifying their portfolios beyond standard lager into varieties like craft ales. This maturation of the Indian alcohol consumer indicates trends away from mass markets towards premium and specialty experiences. Savvy companies are catering specialized products and branding to tap the potential of these higher-value market segments.

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Top Companies Included in This Report:

• Arcoy Biorefinery Pvt. Ltd.
• Corporation Ltd.
• Central Romana
• KRBL Ltd.
• Illovo Sugar Ltd.
• Lenzing AG
• Penn A Kem LLC
• Tanin Sevnica d.d.
• Linzi Organic Chemicals Inc. Ltd.
• Tieling North Furfural (Group) Co., Ltd.,
• Silvateam S.p.A.
• Xingtai Chunlei Furfuryl Alcohol Co., Ltd.,

Market Segmentation:

Based on Product Type:

• By raw materials
• Corn cob
• Rice husk
• Bagasse
• Others
• By end-use industry
• Petroleum
• Agriculture
• Paints & coatings
• Pharmaceutical
• Others

Based on Applications:

• By application
• Furfural alcohol
• Solvents
• Others

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)

Reasons to Purchase This Report:
📈 Regional Insights: Understand regional consumption patterns and factors influencing the market in different areas.

📈 Global Opportunities & Threats: Discover opportunities and challenges faced by global suppliers in the IELTS Training Platform sector.

📈 Growth Potential: Identify the fastest-growing regions and sectors.

📈 Competitive Landscape: Review market rankings, recent product launches, partnerships, expansions, and acquisitions of leading companies.

📈 Company Profiles: Access comprehensive corporate profiles, including company overviews, insights, product benchmarks, and SWOT analyses of key market players.

📈 Market Outlook: Get current and future market outlooks, including recent developments, growth opportunities, drivers, challenges, and regional constraints

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