India alcohol Market to Hit US$ 3 Bn by 2031, at a CAGR of 6.5% | United Spirits Limited, Tilaknagar Industries Ltd

Market Overview:

The Global Crude Tall Oil Market size is expected to reach US$ 3 Bn by 2031, from US$ 1.93 Bn in 2024, growing at a CAGR of 6.5% during the forecast period.

Market Dynamics:

The India alcohol market is expected to witness significant growth owing to rising disposable incomes and changing lifestyles. Growing urbanization has also led to increased socialization and occasions for alcohol consumption in the country. Furthermore, decreasing taboos around alcohol consumption and aggressive marketing by companies are helping boost the adoption of alcohol in India. To tap the market potential, companies are launching innovative and premium products. However, strict regulations and health awareness could impede market growth during the forecast period.

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India Alcohol Market Drivers: Rising disposable incomes among urban populations

The growth of the urban population along with increasing income levels has led to greater disposable incomes among urban Indians in recent years. As living standards improve, consumers are able to spend more on non-essential or luxury items such as alcohol. Premium and super premium brands have witnessed strong demand growth owing to wealthy consumers being willing to pay higher prices for quality liquor products. Going forward, continued job creation in large cities combined with overall economic development is expected to strengthen the earnings potential of urban residents. Their higher spending power will translate into robust demand for alcoholic beverages across modern retail stores and bars/restaurants over the forecast period.

India Alcohol Market Opportunity: Growth in craft/boutique alcohol segment

A new opportunity emerging in the market is the rising popularity of craft or boutique varieties of alcoholic beverages. Indian consumers, especially urban youth, are increasingly looking to experiment with different flavors, ingredients and production processes beyond standard international spirits. There is curiosity to try indigenous Indian alcoholic drinks and unique craft brews instead of regular bottled beers. Several small-batch producers have entered this niche craft beverages space offering novel flavors inspired from local ingredients and recipes. Their unique alcohol varieties appeal to those seeking new experiences. As more craft distilleries, breweries and wineries establish operations, they will satisfy the evolving premiumization demand of discerning consumers with diverse offerings.

India Alcohol Market Trends: Move towards premiumization

A dominant trend being witnessed in the Indian alcohol industry is the steady premiumization of products across categories. Where earlier consumers primarily purchased low-priced commodity brands, many are now willing to spend more on superior quality liquors. Premium whisky, craft beer, single malts, specialized wines etc are experiencing double-digit growth rates. Alcohol producers are tapping the premium potential through luxury launches targeted at high-income social drinkers. Meanwhile, fast evolving lifestyles and exposure to globalization is driving a preference for imported and premiumized domestic alcohol brands among middle-class users as well. The market is shifting towards high-margin premium and super premium segments rather than the commodity end. Premiumization will remain a key strategic focus for liquor companies over the forecast period.

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Top Companies Included 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:

Based on 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)

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Author Bio:

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

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