The India Alcohol Market comprises beer, wines, and spirits. Increasing demand for premium and craft varieties is driving market growth. Alcohol products impart relaxation and socializing experiences to consumers. Rising disposable incomes have allowed greater expenditure on luxury items like expensive liquors and beers.

The global India Alcohol Market is estimated to be valued at US$ 49,580 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
Rising disposable incomes have accelerated growth of the India alcohol market over the past decade. Higher spending power has encouraged newer product experimentation among consumers. Premiumization trends have gained traction with consumers opting for craft beers and expensive whiskeys. Major players have launched super-premium offerings targeting the affluent demographic. Increased product promotion through social media marketing and premiumization drives brand awareness and trials. This has expanded the consumer base. Further, high disposable incomes are expected to robustly drive the premium India alcohol market over the forecast period.

Segment Analysis
The India alcohol market is dominated by spirits segment which accounts for around 71% of the total market share. Beer and wine are the other major segments. Within spirits segment, whiskey dominates and accounts for over 50% share due to growing demand for premium and super premium whiskey brands among young urban population. Rum is another fast growing segment within spirits driven by rising experimentation among consumers.

Key Takeaways
The India Alcohol Market Size is expected to witness steady growth over the forecast period supported by rising disposable incomes, growing social acceptance and expanding distribution networks in the country.

Southern region currently leads the market supported by high consumption states like Tamil Nadu and Karnataka. However, northern region is emerging as the fastest growing market due to increasing experimentation among youth in cities like Delhi, Mumbai and Bengaluru.

Key players operating in the India alcohol market are Brand Energy & Infrastructure, Allied Blenders & Distillers, SAB Miller, Tilaknagar Industries, Radico Khaitan, Globus Spirits, Mohan Meakin, United Breweries and Pernod Ricard. Brand Energy & Infrastructure leads the Indian whiskey market with popular brands like Officer's Choice and Bagpiper. Allied Blenders & Distillers has a strong presence in the rum segment with brands like Haywards and McDowell's No.1. SAB Miller and United Breweries are the top players in the growing beer category.

Get more insights on this topic:
https://www.dailyprbulletin.com/india-alcohol-market-share/