Global India Alcohol Market Is Estimated To Witness High Growth Due To Growing Online Platforms For Buying Alcoholic Beverages

 

India Alcohol Market

Overview:

Alcohol in India is often brewed at home, and consumed during local celebrations and festivals. Many of these drinks have a long history in the country, and are made using either grain or palm sap as base. However, people can also buy illegal brews from village distilleries and shops. This makes it hard to determine how widespread the issue is. Along with high consumption levels, there are also concerns about the increasing number of young people drinking alcohol. Studies have found that the average age of a person who starts drinking has dropped significantly over the past 15 years. This change has been attributed to the growth in disposable incomes and increased urbanisation of the country.

Market Dynamics:

Rising acquisitions by key players are estimated to augment growth of the global India alcohol market during the forecast period. For instance, Diageo acquired Balcones Distilling, in 2022. Balcones is one of the leading American Single Malt Whisky producers in the US. Moreover, side effects and growing inclination of consumers towards non-alcoholic beverages is anticipated to restrain growth of the global India alcohol market during the forecast period.

Impact of COVID-19:

The pandemic was first reported in 2019 in China. It was transmitted to other nations worldwide. Coronavirus acted as a massive restraint on the alcohol market. There was a decrease in consumption of alcohol during the pandemic. Several governments had restricted the transportation of goods, and export and import activities were also banned in many nations. There was a shortage of raw materials so manufacturers had to halt production activities. Governments had imposed strict restrictions on the trade of non-essential goods, so as to avoid the transmission of the virus. This also helped in avoiding contamination in manufacturing sites. Thus, the pandemic had a negative impact on growth of the global India alcohol market.

Key Takeaways:

The Global India Alcohol Market is expected to witness robust growth, exhibiting CAGR of 3.0 % over the forecast period, due to increasing collaborations among key players. For instance, Constellation Brands Inc., entered a brand authorization contract with The Coca-Cola Company in 2022, in the US. According to the agreement the FRESCA brand will be introduced in the alcoholic beverages category.

North America is anticipated to witness robust growth in the global India alcohol market during the forecast period, due to growing consumption of high-quality alcoholic beverages and growing young population.

Key players active in the global India Alcohol Market are Pernod Ricard, Halewood International Limited, Brown‑Forman, Davide Campari-Milano N.V., Anheuser-Busch Companies LLC, Diageo, SUNTORY HOLDINGS LIMITED, Accolade Wines, CASTEL FRÈRES, Bacardi, and Mike's Hard Lemonade Co.