India Alcohol Market By Raw Material (Grain-Based and Sugarcane-Based) By Application (Potable Alcohol {Fermented Alcoholic Beverages [Wine (Red Wine, Rose Wine, White Wine), Cider, Beer, Perry], Distilled Alcoholic Beverages (Rum, Gin, Whisky, Tequila, Vodka, Others), Compound Alcoholic Beverages (Liqueurs, Cocktails, Others), Flavors and Fragrances (Toothpaste, Mouthwash, Foods and beverages, Confectionaries, Others)}, Pharmaceuticals (Antiseptics, Osmotic Drugs Delivery Devices, Syrups, Medicated sprays, Others), Cosmetics and Personal Care (Bath products, Haircare products, Eye and Facial Makeup, Skin Care Products, Others), and by Region (Europe, Latin America, North America, Middle East & Africa, and Asia Pacific) – Size, Share, Outlook, and Opportunity Analysis, 2022-2028
The India 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, as highlighted in a new report published by Coherent Market Insights. (2019 to 2027).
Market Overview:
Alcohol has palliative features and can work as an emulsifier and thickener in commodities. In stick items, such as perfumes and sprays, it aids to emulsify the active component and fragrance into the wax base. It also aids change the physical appearance of the stick's waxy base.
Competitive Landscape:
Key players involved in the growth of India Alcohol Market are B9 Beverages Pvt Ltd., Diageo PLC, Carlsberg A/S, Heinekin NV amongst others.
Market Key Drivers:
Rising consumption of alcohol is expected to augment the growth of India Alcohol Market. For instance, as per AABL, India’s neutral alcohol consumption was around 3.8 billion liters in 2023.
Increasing use of spirits is anticipated to drive the growth of India Alcohol Market. For instance, as per IBEF, the global spirits market is was estimated to be around 3.19 billion cases by 2021.
Covid-19 Impact Analysis:
The COVID-19 outbreak has impacted various manufacturing and other firms. This epidemic has resulted to the suspension of alcohol manufacture owing to the interrupted supply chain and reduced need. The alcohol market advocated a sharp decrease in the pandemic owing to the imposition of lockdown in various economies. Hence, COVID-19 greatly impacted the growth of the India alcohol market.
Key Takeaways:
The India Alcohol Market is expected to exhibit a CAGR of 7.0 % during the forecast period owing to the rising demand of consumer goods. For instance, as per IBEF the consumer market was expected to reach around 103.70 billion.
Among regions, India anticipated to witness robust growth in the India alcohol market due to increasing investments, increasing approvals and launches, rising partnerships and collaborations and increasing consumption of alcohol. For instance, Indian Made Foreign Liquor use of red wine is responsible for around 61%.
Comments
Post a Comment