India Alcohol Market

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India Alcohol Market is estimated to Witness High
Growth Owing to Increasing Disposable Income and
Rising Social Acceptance of Alcohol Consumption
The global India Alcohol Market is estimated to
be valued at INR 2,807,236.7 Bn 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. A) Market Overview The India Alcohol
Market comprises various alcoholic beverages,
including spirits, beer, and wine. These
products are widely consumed for recreational
purposes and social gatherings. The market is
driven by the increasing disposable income of
consumers and the growing social acceptance of
alcohol consumption. In addition, the
availability of a wide range of alcoholic
beverages and the popularity of premium and
craft drinks are further fueling market growth.
B) Market Dynamics The India Alcohol Market
is primarily driven by two key factors. Firstly,
the increasing disposable income of consumers
has led to a rise in discretionary spending on
leisure activities, including alcohol
consumption. As consumers have more money to
spend, they are willing to explore different
alcoholic beverage options, thereby contributing
to market growth. Additionally, the rising social
acceptance of alcohol consumption has played a
crucial role in driving the market. Unlike in the
past, alcohol is now seen as a part of social
gatherings and celebrations, leading to increased
demand for alcoholic beverages. C) Market Key
Trends One key trend observed in the India
Alcohol Market is the growing popularity of craft
and premium drinks. Consumers are increasingly
seeking unique and high-quality alcoholic
beverages that offer a differentiated
experience. Craft beers, artisanal spirits, and
premium wines are gaining traction among
consumers who are willing to pay a premium price
for superior quality and taste. For example,
craft breweries are emerging across the country,
offering a wide range of flavorful and
distinctive beers that cater to the evolving
preferences of consumers.
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D) SWOT Analysis Strengths 1. Increasing
disposable income 2. Rising social acceptance
Weaknesses 1. High taxation and regulations
2. Health concerns related to alcohol
consumption Opportunities 1. Growing market
for craft and premium drinks 2. Expansion of
distribution channels Threats 1. Government
regulations and restrictions 2. Competitive
pressures from international players E) Key
Takeaways 1. The India Alcohol Market is
expected to witness high growth, exhibiting a
CAGR of 7.8 over the forecast period, due to
the increasing disposable income of consumers and
the rising social acceptance of alcohol
consumption. 2. In terms of regional analysis,
urban areas are expected to be the
fastest-growing and dominating region in the
market, driven by higher incomes and changing
lifestyles. 3. Key players operating in the
India Alcohol Market 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 constantly focusing on product innovation,
expanding their distribution networks, and
engaging in strategic collaborations to
strengthen their market position. In
conclusion, the India Alcohol Market is poised
for significant growth in the coming years.
Factors such as increasing disposable income,
rising social acceptance, and the growing
popularity of craft and premium drinks are
expected to drive market expansion. However, high
taxation and regulations, along with health
concerns related to alcohol consumption, pose
challenges to market growth.