Cheers to Growth: Unveiling India Alcohol Market Potential

 

                                                                                   India Alcohol Market

Overview:

India's alcohol market is poised for remarkable growth, presenting an exciting opportunity for investors and industry players. With a population exceeding 1.3 billion and a rising middle class, the demand for alcoholic beverages is on the rise. India's cultural shift towards socializing and changing lifestyles has further fueled this trend. Additionally, the relaxation of regulations and increased disposable income have opened up avenues for premium and craft alcohol brands to thrive. The market potential is immense, with the younger generation embracing diverse tastes and preferences. This positive trajectory, combined with India's vibrant hospitality and tourism sectors, makes it an attractive landscape for alcohol companies to tap into and unlock significant growth opportunities.

According to Coherent Market Insights, The India’s alcohol market was valued at INR 2,807,236.7 Bn in 2018 and is anticipated to reach INR 5,482,851.3 Bn by the end of 2027, growing at a CAGR of 7.8% during the forecast period (2019 to 2027).

Drivers:

Alcohol market expansion is anticipated to be fueled by rising disposable income and urban population increase. Additionally, the diversification of alcohol flavors and the manufacturers' expanding product lines are expected to support the market's expansion. For instance, Coca-Cola (Japan) Co. declared in July 2019 that it was getting ready to enter the country's alcoholic beverage industry formally. Additionally, the business trial-launched a canned chhai spirit-based product in the Kyushu region in May 2018. Another significant factor anticipated to support the market for alcohol is the shift in demography paired with the change in lifestyle. State-by-state variations exist in India's legal drinking age. This has mainly impacted on the India’s alcohol market.

Market Opportunities:

Shifting preferences in favor of high-quality alcohol, which includes low-alcohol spirits. Additionally, rising demand for expensive, premium alcohol due to expanding purchasing power is anticipated to fuel market expansion throughout the projection period. Shipyard, a US craft brewer, introduced the low-alcohol pale ale Low Tide in June 2019. Low Tide, as its name suggests, has a lower abs of 0.5%. Taking advantage of the rising customer demand for alcohol-free and low-alcohol beverage options. Over the course of the projected period, market expansion is anticipated to be supported by the growing trend of embracing alcohol consumption and the expanding number of pubs and bars around the world. Additionally, a rise in the number of female drinkers is anticipated to fuel the expansion of the alcohol market. This was all about the India’s alcohol market.


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