According to estimates, the Indian alcohol market will be worth US$ 54,740.0 million in 2023 and US$ 111,238.9 million in 2033. Indian alcohol is anticipated to increase significantly throughout the projected period, at a CAGR of 7.0%.
Over the research period, the Indian alcohol market has grown due to rapid urbanization, an increase in population (especially in urban areas), and rising disposable incomes. The country’s demand for alcoholic beverages would rise throughout these years as pub and cocktail culture gained appeal and acceptance in metropolitan areas. In the coming years, it is anticipated that the Indian alcohol market will advance due to an increasing taste for whisky, particularly among urban customers.
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Demographic changes in the country will boost the target market’s growth even further. A sizable proportion of the population is between the ages of 18 and 25. Furthermore, the median age in the country is believed to be around 27 years. Though the legal drinking age differs by state in India, these demographics are projected to help the Indian alcohol market grow. Furthermore, rising per capita disposable income will almost certainly result in increased spending on different lifestyle and food and beverage products, including alcohol. Again, recent years have seen a significant shift in Indian lifestyle, particularly among the metropolitan population. With the widespread embrace of pub and cocktail culture, the prospects for the Indian alcohol market look promising.
Though the IMFL segment leads market growth, beer, country liquor, and wine segments follow closely after the category and aid the expansion of the Indian alcohol market.
Key Takeaways:
- The Indian Made Foreign Liquor (IMFL) segment is estimated to exceed a value of US$ 40 billion while registering a CAGR of 5.2% between 2016 and 2026.
- IMFL will account for 66% of the total market revenue during the period of observation.
- Beer, country liquor, and wine will follow closely after the IMFL segment during 2016 and 2026.
- Andhra Pradesh and Telangana are the two states that are estimated to contribute significantly to the overall growth of the Indian Liquor Market.
- Andhra Pradesh and Telangana have the highest number of alcohol consumers in the country.
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Competitive Landscape
Allied Blenders & Distillers Pvt. Ltd., Bangalore’s SAB Miller India Ltd., and Tilaknagar Industries Ltd., among others, are some of the dominant players in the Indian alcohol market profiled in the full version of the report.
Leading market players are keen on product development and facility expansions. These organizations also adopt diverse organic and inorganic business strategies to improve their market position.
More Insights Into Indian Alcohol Market
In its latest report, FMI offers an unbiased analysis of the global Indian alcohol market, providing historical data from and forecast statistics for 2016 to 2026. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (IMFL (brandy and cognac, rum, whiskies, white spirits, others), Beer (mild, strong), Wine (red wine, white wine, rose wine), country liquor), make (imported liquor, IMFL, foreign liquor bottled in India, Indian made Indian liquor), gender (male, female), ingredients (grains, molasses, fruits, and vegetables), distribution market (government controlled, open market, auction market), and region.
According to the same reports, based on segmentation, the IMFL category will dominate the market with a CAGR of 5.2%. This category will surpass US$ 40 billion and account for 66% of the overall market revenue. Based on region, the South Zone will likely make substantial contributions to the total market growth. Owing to the presence of a large number of alcohol consumers, Andhra Pradesh and Telangana are estimated to dominate the market. In brief, an adoption of the ‘pub and cocktail’ culture, a growing urban population, shifts in lifestyles, and increasing disposable income will aid the growth of the Indian alcohol market during the projection period.
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The key segments covered in this report are:
By Type
- IMFL
- Brandy and Cognac
- Rum
- Whiskies
- White Spirits
- Others
- Beer
- Mild
- Strong
- Wine
- Red Wine
- White Wine
- Rose Wine
- Country Liquor
By Make
- Imported Liquor
- Indian Made Foreign Liquor
- Foreign Liquor Bottled in India
- Indian Made Indian Liquor
By Gender
- Male
- Female
By Ingredients
- Grains
- Molasses
- Fruits and Vegetables
By Distribution Market
- Government Controlled
- Open Market
- Auction Market
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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