India Alcohol Market Size to Worth Around USD 92.57 Bn by 2031 | United Spirits Limited, Tilaknagar Industries Ltd

Market Overview:

The India alcohol market is estimated to be valued at USD 55.81 Bn in 2024 and is expected to reach USD 92.57 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.

Market Dynamics:

The India alcohol market is witnessing high growth owing to increasing social acceptance of alcohol consumption and rising disposable income of consumers. As the stigma associated with alcohol consumption reduces, more people are willing to consume it socially as well as privately. Moreover, growing exposure to western culture and increasing socializing opportunities are expected to boost the market over the forecast period. Albeit health and religious factors still negatively impact the growth to some extent. However, rising incomelevels are likely to offset such concerns by increasing purchasing power for leisure expenditures.

🔍 Sample Copy of the Report @ https://www.coherentmarketinsights.com/insight/request-sample/3145?utm_source=openpr.com&utm_medium=referral

India Alcohol Market Drivers

Rising Disposable Incomes and Changing Demographics in India

India has one of the fastest growing economies in the world. The country has witnessed strong GDP growth over the past few years leading to rising disposable incomes among the middle class. Consumption of alcohol is seen as a luxury and is often considered a way to unwind and socialize. As more people move into the urban middle class bracket and earn higher salaries, they are willing to spend more on premium alcoholic beverages. The changing demographics especially the growing young population in India between the ages of 18-35 years further spurs the demand for alcohol. This young demographic cohort tends to socialize more often and views alcohol consumption as a sign of modernization and westernization.

India Alcohol Market Opportunity

Rise of E-commerce and Direct Home Deliveries

With increasing penetration of smartphones and internet across India, e-commerce has taken off in a big way over the past 5 years. Most people today shop online for various goods rather than visiting physical stores. This provides a big opportunity for alcohol companies to leverage the e-commerce platform. Many state governments in India have now eased restrictions to allow direct home delivery of alcohol through web storefronts and mobile apps. Major e-commerce players as well as alcohol firms have launched their separate online channels for selling liquor. This offers unprecedented accessibility and convenience to customers. The opportunity for e-commerce in alcohol has just started emerging and will help drive new users as well as increased consumption volumes going forward.

India Alcohol Market Trends

Premiumization of Liquor Demand

With economic prosperity, Indians are stepping up from basic alcohol beverages to more premium variants. There is evident premiumization occurring in the alcohol preferences and purchase behavior in India. Customers are willing to pay higher price points for value additions like imported alcohol, customized blends, sophisticated packaging and better tasting experiences. Alcohol companies are responding by launching more premium Reserve, Collector's Edition types of products targeted at the discerning customers. This consumption drift towards premiumization plays well for margin improvement and catering to the aspirations of new wealth creators in India. The trend reflects Indians flaunting their purchasing power and prosperity through the alcohol brands they choose. This premiumization path will likely continue as prosperity increases in the country.

🛒 You Can Purchase Complete Report @ https://www.coherentmarketinsights.com/insight/buy-now/3145

Top Companies Included in This Report:

★ United Spirits Limited
★ Tilaknagar Industries Ltd
★ United Breweries Limited
★ Jagatjit Industries
★ Mohan Meakin
★ Globus Spirits
★ Allied Blenders and Distillers Pvt.
★ SAB Millier
★ Radico Khaitan Limited
★ Khemani Group
★ SOM Distilleries and Breweries
★ Carlsberg A/S
★ Som Distilleries And Breweries Limited
★ Khoday India
★ Amrut Distilleries
★ Amber Distilleries Limited
★ Carlsberg India
★ Raj Innotech
★ Anheuser-Bush InBev SA/NV
★ White Rhino Brewing Co.

Market Segmentation:

Based on Product Type:

★ By Beverage Type: Beer, Spirits (Whisky, Vodka, Rum, Gin, etc.), Wine, and Others
★ By Price Point: Premium/Luxury, Mid-range, and Economy/Value
★ By Distribution Channel: Supermarkets and Hypermarkets, Specialty Liquor Stores, Online Platforms, and Bar and Restaurants

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)

» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)

» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)

» South America (Brazil, Argentina, Rest of SA)

» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

Reasons to Purchase This Report:
📈 Regional Insights: Understand regional consumption patterns and factors influencing the market in different areas.

📈 Global Opportunities & Threats: Discover opportunities and challenges faced by global suppliers in the IELTS Training Platform sector.

📈 Growth Potential: Identify the fastest-growing regions and sectors.

📈 Competitive Landscape: Review market rankings, recent product launches, partnerships, expansions, and acquisitions of leading companies.

📈 Company Profiles: Access comprehensive corporate profiles, including company overviews, insights, product benchmarks, and SWOT analyses of key market players.

📈 Market Outlook: Get current and future market outlooks, including recent developments, growth opportunities, drivers, challenges, and regional constraints

FAQ:
What is the scope of this report?

Does this report estimate the current market size?

Does the report provide market size in terms of Value (US$ Mn) and Volume (thousand ton/metric ton/cubic meter)?

Which segments are covered in this report?

What are the key factors covered in this report?

Does this report offer customization options?

💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/3145

Author Bio:

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.

(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)

Contact Us

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Australia: +61-2-4786-0457
India: +91-848-285-0837

About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.