Global Indian Alcohol Consumption Market - Growth Drivers, Opportunities and Forecast Analysis to 2025
Summary -
A new market
study, titled “Global Indian Alcohol Consumption Market - Growth Drivers,
Opportunities and Forecast Analysis to 2025” has been featured on WiseGuyReports.
Our latest
report “Indian Alcohol Consumption - The Changing Behavior” provides a comprehensive
analysis of the market size of alcohol industry on the basis of type of
products, consumption in different states, retail channel and imported and
domestic. The Indian alcohol industry is segmented into IMFL (Indian made
foreign liquor), IMIL (Indian made Indian liquor), Wine, Beer and imported
alcohol. Imported alcohol has a meager share of around 0.8% in the Indian
market. The heavy import duty and taxes levied raise the price of imported
alcohol to a large extent. Alcohol is exempted from the taxation scheme of GST.
The Indian
alcohol market is growing at a CAGR of 8.8% and it is expected to reach 16.8
Billion liters of consumption by the year 2022. The popularity of wine and
vodka is increasing at a remarkable CAGR of 21.8% and 22.8% respectively. India
is the largest consumer of whiskey in the world and it constitutes about 60% of
the IMFL market.
Though
India is one of the largest consumers of alcohol in the world owing to its huge
population, the per capita alcohol consumption of India is very low as compared
to the Western countries. The per capita consumption of alcohol per week for
the year 2016 was estimated at 147.3 ml and it is expected to grow at a CAGR of
7.5% to 227.1 ml according to our estimates.
The states
of Andhra Pradesh, Telangana, Kerala, Karnataka, Sikkim Haryana and Himachal
Pradesh are amongst the largest consumers of alcohol in India. The most popular
channel of alcohol sale in India is liquor stores as alcohol consumption is
primarily an outdoor activity and supermarkets and malls are present only in
the tier I and tier II cities of India.
The trends
and pattern of alcohol consumption are changing in the country. With the
increasing acceptance of women consuming alcohol, growing popularity of wine
and high demand for expensive liquor, the market scenario seems to be very
optimistic in the near future. We conducted a consumer research study for the
alcohol market with around 1,000 respondents from the cities of Delhi,
Chandigarh, Mumbai, Pune, Hyderabad, Kolkata and Bangalore. The study reflected
changing pattern of the consumer’s mindset towards alcohol consumption in
India. 3% of the respondents who consumed alcohol favored wine for its health
benefits. Though the popularity of whiskey is highest in the Indian market, its
market share is expected to decrease in future..
FOR MORE
DETAILS: https://www.wiseguyreports.com/reports/3410210-indian-alcohol-consumption-the-changing-behavior
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