Gin is a distilled alcoholic drink that derives its predominant flavour from juniper berries. Gin is one of the most popular alcoholic beverages in India and is primarily enjoyed through mixed drinks or cocktails. Gin cocktails have gained widespread popularity among young urban population in India. The convenience of making gin-based cocktails at home and its versatility has boosted the sales of gin in India.

The global India Gin Market is estimated to be valued at US$ 546.03 Bn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:
The expanding consumer base for alcoholic beverages due to growing disposable income and changing lifestyle is estimated to present an opportunity for high growth of India gin market during the forecast period. Young urban Indians are increasingly experimenting with new recipes and cocktails providing a fillip to gin sales. With rising exposure to global drinking trends through social media and internet, gin is finding new takers beyond metros. If distillers focus on introducing gins crafted from localized and regional ingredients along with branding and marketing initiatives, there is scope to significantly tap into the potential of tier 2 and 3 cities across India. This will aid in further broadening the consumer demography driving the growth of India gin market between 2023 and 2030.

Porter's Analysis

Threat of new entrants: The Global India Gin Market Size has moderate threat of new entrants as a large upfront investment is required to establish the production and distribution facilities to commercialize gin products in India.
Bargaining power of buyers: The bargaining power of buyers is high in the Indian gin market. Buyers have a choice from different brands in the market.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Major suppliers of raw materials for gin includes juniper berries, citrus, spices and grains.
Threat of new substitutes: The threat of new substitutes is high as there are various alternatives available to gin such as whiskey, rum and vodka.
Competitive rivalry: The competitive rivalry in the India gin market is high due to presence of number of domestic and international brands.

SWOT Analysis

Strength: High consumption of alcoholic beverages in India, increasing disposable income and influence of western culture on drinking habits. Large production base and skilled workforce.
Weakness: High taxation and regulatory framework for alcohol beverages in some states. Negative health impact associated with excessive gin consumption.
Opportunity: Increasing adoption of premium and craft gin varieties. Rising usage of gin based cocktails and mocktails among millennials and Gen Z population. Expansion in untapped rural market.
Threats: Stringent rules and regulations concerning alcohol advertising and promotion. Growing health awareness among consumers.

Key Takeaways

The global India gin market is expected to witness high growth. The India gin market size reached US$ 546.03 Bn in 2024 and is projected to reach over US$ 1,011 Bn by 2030, expanding at a CAGR of 11% during the forecast period of 2023 to 2030.

Regional Analysis: Southern region dominates the India gin market holding around 35% market share in 2024 and is expected to maintain its dominance during the forecast period.

Key players operating in the India gin market are Sanofi S.A., Encore Dermatology Inc, AbbieVie Inc., F. Hoffmann-La Roche AG, Novartis AG, Regeneron Pharmaceuticals Inc., Astellas Pharma Inc., Anacor Pharmaceuticals Inc., Meda AB, GlaxoSmithKline plc, AstraZeneca plc, and Pfizer Inc. Key players are focusing on product innovation, strategic collaborations and expanding their distribution network to gain higher market share.

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