The global Alcohol Market in India is estimated to be valued at INR 2,807,236.7 Billion in 2018 and is expected to exhibit a CAGR of 7.8% over the forecast period 2019 to 2027, as highlighted in a new report published by Coherent Market Insights.

 Market Overview:

The Alcohol Market in India is experiencing significant growth due to factors such as increasing disposable income, changing consumer tastes and preferences, and a growing young population. The market is driven by the rising social acceptance of alcohol consumption, urbanization, and a shift towards premium and craft spirits. However, stringent government regulations and the availability of alternative beverages pose major obstacles to market growth.

 Market Key Trends:

One key trend in the India Alcohol Market is the increasing demand for craft spirits. Consumers are increasingly seeking unique and high-quality alcoholic beverages, leading to a rise in the popularity of craft spirits. Craft spirits are known for their artisanal production methods, use of locally sourced ingredients, and distinct flavors. For example, craft gin infused with native botanicals has gained popularity among gin enthusiasts. This trend is driven by consumers’ desire for authenticity and a more personalized drinking experience.

 Segment Analysis:

The Alcohol Market in India is segmented based on the type of alcohol beverage. Among these segments, the spirits segment is dominating the market. Spirits such as whiskey, rum, vodka, and gin are highly popular among consumers in India. Whiskey, in particular, holds a dominant position in the Indian market. The demand for whiskey is fueled by factors such as evolving consumer preferences, urbanization, and an increase in the number of social gatherings and parties. Premium and blended whiskeys are among the most sought-after varieties in the Indian market.

Key Takeaways:

1. The Alcohol Market in India is expected to witness high growth, exhibiting a CAGR of 7.8% over the forecast period, due to increasing disposable income and changing consumer preferences. For example, the rising middle class in India has more disposable income, enabling them to afford premium alcoholic beverages.
2. In terms of regional analysis, the urban regions of India are the fastest-growing and dominating regions in the Alcohol Market. Urban areas have higher concentrations of young consumers with increased purchasing power. These consumers are more open to trying new alcoholic beverages and are driving the demand for premium spirits.
3. Key players operating in the Alcohol Market in India include United Spirits Limited, Tilaknagar Industries Ltd, Jagatjit Industries, Mohan Meakin, Globus Spirits, Allied Blenders and Distillers Pvt., SAB Miller, Radico Khaitan Limited, Khemani Group, SOM Distilleries and Breweries, and Carlsberg A/S. These players are engaged in various strategies such as new product launches, mergers and acquisitions, and partnerships to strengthen their market position.

In conclusion, the Alcohol Market in India is witnessing significant growth due to factors such as increasing disposable income and changing consumer preferences. Craft spirits are gaining popularity among consumers seeking unique and high-quality alcoholic beverages. The spirits segment, especially whiskey, dominates the market. Urban areas are driving market growth, and key players are adopting strategies to maintain their market position.

Anuja Desai

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