DUBLIN--(BUSINESS WIRE)--The "India Wine Market Outlook, 2023" report has been added to ResearchAndMarkets.com's offering.
The market has observed high growth owing to increasing popularity of wines, increase in disposable income, growing consumption of alcohol between women, etc. The market further shows high growth potential as all the segments show high growth rate.
Wine in India is gaining importance as a mainstream drink and is being consumed on various occasions, both at home and at restaurants/bars. Buyers mostly prefer to consume at home with relatives, which indicate that wine is increasing social acceptance between Indian family. In restaurants, wine is mostly consumed during large gatherings, business parties or dinning meetings.
India Wine market observed growth with CAGR of more than 25% from year 2011-12 to 2016-18. The market observed high growth in all segments, as the Indian wine market was a very young market during this period.
The period observed increasing awareness of wine and wine brands in India. The vineries have started becoming picnic spots and provide educational tours as well as consist of tasting rooms. The increasing craze of Bollywood also helped Indian wine market as many of the heroines are observed consuming wine in the movies.
In India, Nashik in Maharashtra is known as the Napa Valley of India, most of the renowned vineyards of the country are located in this belt. More than half of the Indian wine estates are situated in Maharashtra. Other popular wine growing regions are found in southern India, in the state of Karnataka and a small number of vineyards are available in Andhra Pradesh, Tamil Nadu and Himachal Pradesh.
The popularity of champagne which is known as sparkling wine is also increasing in India. People in India have started following the western culture of popping champagne on good occasions such as signing new deals, earning high profit, corporate parties, wedding, dinners, etc. This has led to growth of sparkling wine in the Indian Wine market and has boosted sales.
The market has also witnessed the growth of white and rose wines in the past as new variants and brands emerged into this category. The current Indian wine market is dominated by Red wines while the future shows growth in market share of White, Sparkling and Rose wine.
Companies Featured
- Grover Zampa Vineyards Limited
- Sula Vineyards Limited
- Vinsura Winery Pvt. Ltd.
- Fratelli Wines Private Limited
- York Wines Private Limited
- John Distilleries Private Limited
- Pernod Ricard India Private Limited
- United Spirit Limited (Diageo Group)
- Heritage Grape Winery Private Limited
- Terroir India Wineries Pvt. Ltd. (Indus Wines)
Key Topics Covered
1. Executive Summary
2. Indian Alcoholic Beverages Market Outlook
3. India Wine Market Outlook
4. Product Price Variant Analysis
5. PEST
6. Trade Dynamics
7. Market Dynamics
8. Market Trends & Development
9. State wise Excise Duty Earning
10. Indian Economic Profile
11. Competitive Landscape
12. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/research/mmjxr4/wine_market_in?w=4
