Food and Beverages

The Global India Alcohol Market Growth Accelerated By Increasing Export Opportunities

Leena Shedmake

The Global India Alcohol Market Growth Accelerated By Increasing Export Opportunities

India's alcohol market comprises various products such as beer, wine, and spirits which find applications in food & beverages, healthcare, and other industries. Alcoholic beverages offers health benefits in moderate consumption and socialization. It also serves a religious purpose in India. The rising disposable income and changing lifestyle & consumption pattern have augmented the demand for premium and new variety of alcohol.

The global India Alcohol Market is estimated to be valued at US$ 49580 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

The increasing export opportunities are expected to drive the growth of India alcohol market over the forecast period. India is one of the major exporters of spirits, rum, brandy, and wines to Europe and Americas. The favorable geographic conditions and cost competitiveness compared to developed nations provide impetus to exports. Government initiatives such as Make in India, ease of doing business and export promotion schemes are expected to boost exports. For instance, export of Indian made foreign liquor witnessed growth of 39% YoY to reach Rs. 19273 crore during FY22. The key export destinations include USA, Australia, Russia, Africa, and Southeast Asian countries. The expanding international market and India's heavy investment in brand promotion will accelerate export revenue in the coming years.

Segment Analysis

The India alcohol market is dominated by IMFL (Indian-made foreign liquor) which holds around 75% market share.IMFL has witnessed strong growth over the past few years with increasing consumption of whiskey, rum, brandy and other spirits. The segment is premiumized with demand for high-end and super premium spirits rising across metros and tier I & II cities.

Key Takeaways

The India Alcohol Market Demand is expected to witness high growth over the forecast period supported by rising disposable incomes, westernization of lifestyles and expanding organized retail in the country. The global India Alcohol Market is estimated to be valued at US$ 49580 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030.

Regional analysis: The southern region accounts for around 30% share of the India alcohol market led by states like Karnataka, Andhra Pradesh and Tamil Nadu. The region has seen fast growth due to higher consumption of liquors in social gatherings and events. Western region is another major market driven by states like Maharashtra & Goa where consumption of IMFL and beer is high especially in metro cities.

Key players: Key players operating in the India Alcohol market are DIC CORPORATION, Solvay S.A., Lion Idemitsu Composites Co., Ltd, Toray Industries, Inc., Tosoh Corporation, SK chemicals, Chengdu Letian Plastics Co., Ltd., Celanese Corporation, TEIJIN LIMITED, SABIC, Zhejiang NHU Co., Ltd., LG Chem, RTP Company, Ensinger, Polyplastics Co., Ltd

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Leena Shedmake

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The global India Alcohol Market is estimated to be valued at INR 2,807,236. The market is driven by the increasing disposable income of consumers and the growing social acceptance of alcohol consumption. Firstly, the increasing disposable income of consumers has led to a rise in discretionary spending on leisure activities, including alcohol consumption. 8% over the forecast period, due to the increasing disposable income of consumers and the rising social acceptance of alcohol consumption. However, high taxation and regulations, along with health concerns related to alcohol consumption, pose challenges to market growth.

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Traditional Indian alcoholic beverages include country liquor made from fermented fruits and grains, and toddy, a drink made from the sap of palm trees. In addition to the legal regulations, alcohol consumption in India is also subject to cultural and religious practices. Some religious groups in India abstain from alcohol altogether, while others consume it only in moderation during religious festivals and ceremonies. com/market-insight/india-alcohol-market-3145 About Coherent Market InsightsCoherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. ShahCoherent Market Insights Pvt Ltd,533 Airport Boulevard, Suite 400, Burlingame,CA 94010, United StatesPhone: US +12067016702 / UK +4402081334027JAPAN:+81-50-5539-1737INDIA:+91-848-285-0837Email: sales@coherentmarketinsights.

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