India is the third-largest and fastest-growing liquor market in the world. Alcoholic beverages is considered a sunrise industry owing to its high-growth potential and increasing social acceptance. According to our research, the alcoholic beverages market in India is expected to grow at a CAGR of around 7.72% over a 10 year period to reach a value of INR 5.3 trillion in FY 2026.
An average Indian male drinker consumes three times more alcohol than an average female drinker each year. Region wise, south Indian states constitute the highest alcohol consuming region in the country. There are various types of alcoholic beverages available in India, but beer is the fastest-growing segment in the country. It is expected to grow at a CAGR of 7.5% between FY 2017 and FY 2021.
Key growth factors
- Growing urbanization has introduced a larger consumer group, mainly young men and women to alcoholic beverages and has resulted in more consumers willing to try new products.
- Increased consumption of liquor in rural areas is another major reason for the growth in the market. Furthermore, the easy availability and accessibility of alcohol in rural and urban areas is an important factor in determining the growth of the alcoholic beverages market in India.
Factors such as rise in income and increasing social acceptance are
expected to support the growth of alcoholic beverages market in India.
Key Topics Covered:
- Executive Summary
- Socioeconomic Indicators
- Market Overview
- Trade Analysis
- Market Influencers
- Competitive Landscape
- Recent Developments
- Allied Blenders and Distillers Pvt. Ltd.
- Carlsberg India Pvt. Ltd.
- John Distilleries Ltd.
- Mohan Meakin Ltd.
- Pernod Ricard India Pvt. Ltd.
- Radico Khaitan Ltd.
- SABMiller India Ltd.
- Tilaknagar Industries Ltd.
- United Breweries Ltd.
- United Spirits Ltd.
For more information about this report visit https://www.researchandmarkets.com/research/nmwj5t/alcoholic