The Indian Alcoholic Beverages Market is expected to reach market valuation of US$ X million by 2027 expanding at a significant CAGR of X% during the forecast period (2021-2027) from US$ X million in 2020. Growing working population paired with increased consumption of alcoholic beverage among population is expected to drive the Indian Alcoholic Beverages Market throughout the forecast period.
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India’s alcoholic beverage business is one of the major alcohol industries across the globe only behind from two chief countries such as China and Russia. Increasing demand for alcoholic beverages in India is primarily credited to the huge young population base and rising consumption of alcohol by the young generation as well as growing disposable income is strengthening the industry growth. Over the past few years, there has been an enormous change in attitudes and lifestyle, making consumption of alcohol more socially acceptable. This acceptability of alcohols extends to consumption in family environments, at social events, and by females/youngsters. The budding acceptability and altering social norms have further boosted the growth of alcohol beverage industry growth.
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One major hurdle in India alcohol beverage market is liquor licensing and sourcing. In terms of opening new business and extension of liquor licensing and sourcing emerged as the major growth obstruction for the industry, as the requirement to acquire number of compulsory licenses and regulation linked to hours of operation and consumers minimum age, which varied from state to state.
Covid-19 Impact on the Market
Once perceived to be a recession proof industry, its sales experienced key decline in the initial half of 2020 given that it does not fall under the class of indispensable commodities, as per the figures compiled by industry body Confederation of Indian Alcoholic Beverage Companies. Therefore, the industry took a heavy blow which had an unfavorable result on manufacturing companies, liquor shops and bars/clubs. Fortunately, the storm died down and a strong revival in sales took place in the following half of 2020 because of which the losses from the decline in the first half were met.
Based on distribution channel, the market is segmented into offline distribution channel, online distribution channel and on-premises. The offline distribution channel held the leading market share in 2020. The factors attributing to the large share is because it the most used source across India due to quickness of accessibility as well as availability. Based on product, the market is divided into beer, wine, and distilled spirits. Distilled spirits segment held the leading market share in the year 2020. This is attributed to increase in premium/super premium whiskey consumption and the demand shift from beer to distilled spirits such as rum, whiskey, vodka, and others. Based on origin, the market is divided into Indian Made Foreign Liquor, Foreign Liquor Bottled in Origin, and Country Liquor. Indian Made Foreign Liquor accounted for the largest market share for the year 2020. The factors credited to the high share include increase in disposable income of the population which in turn is resulting in higher consumption of domestic products.
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Based on region, the Indian alcoholic beverage market is divided into North India, South India, West India, and East India. South India accounted for the largest market share in terms of alcohol consumption due to major increase in urban and female alcohol consumers in the region. North India and Western India are anticipated to witness growth owing to increasing number of urban cities in these regions and existence of encouraging demographic factors. Leading players included in the report are SABMiller plc, Anheuser-busch InBev, Carlsberg and United Breweries Ltd.
Indian Alcoholic Beverages Market Segmentation
Market Insights, by Product
· Distilled Spirits
Market Insights, by Origin
· Indian Made Foreign Liquor (IMFL)
· Foreign Liquor Bottled in Origin (BIO)
· Country Liquor
Market Insights, by Distribution Channel
· Offline Distribution Channel
· Online Distribution Channel
Market Insights, by Region
- North India
- South India
- West India
- East India
Top Company Profiles
· SABMiller plc
· Anheuser-busch InBev
· United Breweries Ltd.
· Mohan Meakins
· Radico Khaitan
· Tilaknagar Inds.
· Som Distilleries
· Globus Spirits
· Heineken NV