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| India Alcohol Market |
The global India Alcohol Market is estimated to be valued at US$ 49,580 Mn or Mn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: The India Alcohol Market includes beverages containing ethyl
alcohol such as beer, wine and spirits. These beverages serve as a stress
buster, improving social interaction and impart health benefits in moderation.
However, harmful use also poses health risks.
Market key trends: Customization of alcohol beverages as per changing consumer
preferences is a key trend in the India alcohol market. Market players are
introducing new flavors, product varieties and customized serving sizes to
attract young consumers. For instance, new flavored beers, ready-to-drink
cocktails, cocktail mixtures and mini bottles are being launched. This caters
to consumers seeking unique taste experiences and convenient on-the-go drinking
options.
Segment Analysis
The India alcohol market is segmented into beer, whiskey, brandy and others.
Among these, whiskey dominates the market with a share of over 30% in 2023.
Whiskey is the preferred choice of consumers in India due to changing consumer
tastes and growing popularity. The demand for premium and super premium
whiskies have witnessed strong growth over the past few years.
Key Takeaways
The global India
Alcohol Market Share is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period,
due to increasing disposable income and changing lifestyle.
Regional analysis:
India is the fastest growing market for alcohol in Asia Pacific region.
Southern India dominates the alcohol market accounting for over 30% share due
to high consumption of spirits in the region.
Key players:
Key players operating in the India alcohol market are SABMiller plc,
Anheuser-busch InBev, Carlsberg, United Breweries Ltd., Mohan Meakins, Radico
Khaitan, Heineken NV, Tilaknagar Inds., Som Distilleries, and Globus Spirits.
For more insights, read- https://www.ukwebwire.com/india-alcohol-market-trends-size-and-share-analysis/
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