India Wine Market by Type and Product - Forecast and Analysis 2023-2027

Published: Feb 2023

Pages: 124

SKU: IRTNTR71551

Snapshot

Wine Market Analysis Forecast 2023-2027

The Indian wine market size is estimated to grow at a CAGR of 30.92% between 2022 and 2027. The size of the market is forecast to increase by USD 688.16 million. In 2017 the size of the market was valued at USD 68.80 million.

This wine market in India report extensively covers market segmentation by Type (domestic and imported) and Product (red, fortified, white, and sparkling). It also includes an in-depth analysis of drivers, trends, and challenges.

The wine market in India is growing due to the availability of online stores and speciality retailers, providing consumers with a wide range of choices and convenient online shopping experiences. Strong online distribution channels and platform providers like WineWell and LiquorKart are boosting online sales. This expansion creates opportunities for vendors to target customers without geographical limitations, enhance operational efficiencies, and offer customized products. The evolving retail landscape allows vendors to develop online strategies and eliminate middlemen, resulting in competitive pricing and increased profit margins. Factors such as rising disposable income, changing attitudes towards alcohol consumption, wine's perception as a sophisticated drink, and the growth of wine bars and tourism contribute to this market growth. The Indian wine market is expected to continue its upward trajectory and become a significant player in the global industry.

Wine Market in India Market: Overview

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Key Trend and Challenge

Our researchers analyzed the data with 2022 as the base year, along with the key trends, and challenges. A holistic analysis of drivers, trends, and challenges will help stakeholders in the value chain refine their marketing strategies to gain a competitive advantage.

Trends

The rising population of millennials worldwide is the key trend in the market. The spending power of millennials is tremendous and is anticipated to grow. Millennials made up over 40% of India's working-age population in 2022 and were among the group's highest salary earners. Alcoholic beverages, including wine, are becoming popular among millennials, as millennials are more enthusiastic to try out new variants and flavors than other consumer segments. The millennial population accounted for one-third of the total population in India in 2022, providing a huge opportunity for domestic players to expand their geographical presence and increase their customer base. The millennial population is expected to play an essential role in the growth of the India wine market during the forecast period.

Challenge

Campaigns against alcohol consumption is the major challenge impeding market growth. Organizations are launching campaigns against alcohol consumption and players to prevent the growing incidence of alcohol abuse and alcohol-related accidents, especially among the younger population. The stringent advertising restrictions on alcoholic beverages, along with increasing campaigns against alcohol consumption in India, can hamper the growth of the wine market in India during the forecast period.

The prolonged consumption of alcoholic beverages, including wine, can cause various health-related issues. The excessive consumption of alcohol can affect the physical and mental well-being of people. Increasing awareness about health and the inclination of people toward healthy lifestyles have encouraged the consumption of healthy drinks and beverages. The growing preference for non-alcoholic beverages, such as health drinks, is affecting the growth of the market in the country.

Customer Landscape

The India wine industry research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Wine Market in India Customer Landscape

Vendor Overview

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Key Offering- Big Banyan Wines the company offers shiraj red wine as its key offering which has the luscious flavor of black fruits with red berries, thus mostly served with meals. Under this segment, the company offers premium wines crafted in India with Italian finesse.

The wine market in India report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Wine Market in India Segmentation by Product

Red wine segment is produced by fermenting dark-colored grapes, resulting in a range of shades depending on the grape's acid content. The extraction of flavor and color from the grape skin gives red wine its distinctive characteristics. However, the market faces challenges such as adulteration and counterfeiting, leading to losses and tarnished brand images. COVID-19 impacted wine sales in 2020, but the reopening of retail channels in 2021 is expected to drive steady growth in the Indian red wine market.

The fortified wine segment in India is experiencing growth driven by factors such as increasing demand for sweeter and flavorful options, accessibility and affordability, cultural and social factors, diversification of product portfolios by vendors, and growing awareness and education about wine. These factors contribute to the importance of fortified wine in the expanding Indian wine market.

Wine Market in India Segmentation by Type

The market share growth of the domestic segment will be significant during the forecast period. The demand for premium wine brands is increasing among consumers in India. The rising demand for premium wine in recent years has increased the launch of innovative products. Rising consumer preferences for smooth, rare, and innovative flavors of wine have increased, which has fostered the domestic production of wine.

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The domestic segment was valued at USD 49.90 million in 2017 and continued to grow until 2021. The demand for wine in India is driven by factors such as the increasing application of wine in different cooking recipes, such as meat and poultry, for preservation, coupled with the growing popularity of international cuisine. Due to improved living standards, consumers are gradually shifting from rice and vegetables to more diversified foods such as poultry, fish, and vegetables. This, in turn, will augment the demand and consumption of cooking liquor products, including cooking wine, during the forecast period.

Segment Overview

The wine market in India report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.

Type Outlook (USD Million, 2017 - 2027)
- Domestic
- Imported
Product Outlook (USD Million, 2017 - 2027)
- Red
- Fortified
- White
- Sparkling

Wine Market In India Scope
Report Coverage	Details
Page number	124
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 30.92%
Market growth 2023-2027	USD z688.16 million
Market structure	USD Fragmented
YoY growth 2022-2023(%)	29.66
Regional analysis	India
Performing market contribution	APAC at 100%
Key countries	India and APAC
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Big Banyan Wines, Century Wines Pvt. Ltd., Charosa Wineries Ltd., Chateau d Ori, Deccan Plateau Vineyards Pvt Ltd., Fratelli Wines Pvt. Ltd., Good Drop Wine Cellars Pvt Ltd., Grover Zampa Vineyards Ltd., John Distilleries Pvt. Ltd., KRSMA Estates Pvt. Ltd., Naveen Distillery, Nira Valley Grape Wines Ltd., Pernod Ricard SA, RENAISSANCE Winery Pvt. Ltd., SDU WINERY PVT LTD., The Tonia Group, Vallonne Vineyards Pvt. Ltd., York Winery Pvt Ltd., LVMH Moet Hennessy Louis Vuitton SE, and Sula Vineyards Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Wine Market In India In Country Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the market between 2023 and 2027
Precise estimation of the size of the wine market in India size and its contribution of the market in focus to the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the market industry across India
Thorough analysis of the market’s competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of wine market in India vendors

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 07: Parent market
- Exhibit 08: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 09: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 10: Market segments

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027
- Exhibit 11: Chart on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 12: Data Table on India - Market size and forecast 2022-2027 ($ million)
- Exhibit 13: Chart on India: Year-over-year growth 2022-2027 (%)
- Exhibit 14: Data Table on India: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

4.1 Wine market in India 2017 - 2021
- Exhibit 15: Historic Market Size – Data Table on Wine market in India 2017 - 2021 ($ million)

4.2 Type Segment Analysis 2017 - 2021
- Exhibit 16: Historic Market Size – Type Segment 2017 - 2021 ($ million)

4.3 Product Segment Analysis 2017 - 2021
- Exhibit 17: Historic Market Size – Product Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 18: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers
- Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers
- Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants
- Exhibit 21: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes
- Exhibit 22: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry
- Exhibit 23: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition
- Exhibit 24: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

6.1 Market segments
- Exhibit 25: Chart on Type - Market share 2022-2027 (%)
- Exhibit 26: Data Table on Type - Market share 2022-2027 (%)

6.2 Comparison by Type
- Exhibit 27: Chart on Comparison by Type
- Exhibit 28: Data Table on Comparison by Type

6.3 Domestic - Market size and forecast 2022-2027
- Exhibit 29: Chart on Domestic - Market size and forecast 2022-2027 ($ million)
- Exhibit 30: Data Table on Domestic - Market size and forecast 2022-2027 ($ million)
- Exhibit 31: Chart on Domestic - Year-over-year growth 2022-2027 (%)
- Exhibit 32: Data Table on Domestic - Year-over-year growth 2022-2027 (%)

6.4 Imported - Market size and forecast 2022-2027
- Exhibit 33: Chart on Imported - Market size and forecast 2022-2027 ($ million)
- Exhibit 34: Data Table on Imported - Market size and forecast 2022-2027 ($ million)
- Exhibit 35: Chart on Imported - Year-over-year growth 2022-2027 (%)
- Exhibit 36: Data Table on Imported - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Type
- Exhibit 37: Market opportunity by Type ($ million)

7 Market Segmentation by Product

7.1 Market segments
- Exhibit 38: Chart on Product - Market share 2022-2027 (%)
- Exhibit 39: Data Table on Product - Market share 2022-2027 (%)

7.2 Comparison by Product
- Exhibit 40: Chart on Comparison by Product
- Exhibit 41: Data Table on Comparison by Product

7.3 Red - Market size and forecast 2022-2027
- Exhibit 42: Chart on Red - Market size and forecast 2022-2027 ($ million)
- Exhibit 43: Data Table on Red - Market size and forecast 2022-2027 ($ million)
- Exhibit 44: Chart on Red - Year-over-year growth 2022-2027 (%)
- Exhibit 45: Data Table on Red - Year-over-year growth 2022-2027 (%)

7.4 Fortified - Market size and forecast 2022-2027
- Exhibit 46: Chart on Fortified - Market size and forecast 2022-2027 ($ million)
- Exhibit 47: Data Table on Fortified - Market size and forecast 2022-2027 ($ million)
- Exhibit 48: Chart on Fortified - Year-over-year growth 2022-2027 (%)
- Exhibit 49: Data Table on Fortified - Year-over-year growth 2022-2027 (%)

7.5 White - Market size and forecast 2022-2027
- Exhibit 50: Chart on White - Market size and forecast 2022-2027 ($ million)
- Exhibit 51: Data Table on White - Market size and forecast 2022-2027 ($ million)
- Exhibit 52: Chart on White - Year-over-year growth 2022-2027 (%)
- Exhibit 53: Data Table on White - Year-over-year growth 2022-2027 (%)

7.6 Sparkling - Market size and forecast 2022-2027
- Exhibit 54: Chart on Sparkling - Market size and forecast 2022-2027 ($ million)
- Exhibit 55: Data Table on Sparkling - Market size and forecast 2022-2027 ($ million)
- Exhibit 56: Chart on Sparkling - Year-over-year growth 2022-2027 (%)
- Exhibit 57: Data Table on Sparkling - Year-over-year growth 2022-2027 (%)

7.7 Market opportunity by Product
- Exhibit 58: Market opportunity by Product ($ million)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 59: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges
- Exhibit 60: Impact of drivers and challenges in 2022 and 2027

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape
- Exhibit 61: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption
- Exhibit 62: Overview on factors of disruption

10.4 Industry risks
- Exhibit 63: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered
- Exhibit 64: Vendors covered

11.2 Market positioning of vendors
- Exhibit 65: Matrix on vendor position and classification

11.3 Big Banyan Wines
- Exhibit 66: Big Banyan Wines - Overview
- Exhibit 67: Big Banyan Wines - Product / Service
- Exhibit 68: Big Banyan Wines - Key offerings

11.4 Charosa Wineries Ltd.
- Exhibit 69: Charosa Wineries Ltd. - Overview
- Exhibit 70: Charosa Wineries Ltd. - Product / Service
- Exhibit 71: Charosa Wineries Ltd. - Key offerings

11.5 Deccan Plateau Vineyards Pvt Ltd.
- Exhibit 72: Deccan Plateau Vineyards Pvt Ltd. - Overview
- Exhibit 73: Deccan Plateau Vineyards Pvt Ltd. - Product / Service
- Exhibit 74: Deccan Plateau Vineyards Pvt Ltd. - Key offerings

11.6 Fratelli Wines Pvt. Ltd.
- Exhibit 75: Fratelli Wines Pvt. Ltd. - Overview
- Exhibit 76: Fratelli Wines Pvt. Ltd. - Product / Service
- Exhibit 77: Fratelli Wines Pvt. Ltd. - Key offerings

11.7 Good Drop Wine Cellars Pvt Ltd.
- Exhibit 78: Good Drop Wine Cellars Pvt Ltd. - Overview
- Exhibit 79: Good Drop Wine Cellars Pvt Ltd. - Product / Service
- Exhibit 80: Good Drop Wine Cellars Pvt Ltd. - Key offerings

11.8 Grover Zampa Vineyards Ltd.
- Exhibit 81: Grover Zampa Vineyards Ltd. - Overview
- Exhibit 82: Grover Zampa Vineyards Ltd. - Product / Service
- Exhibit 83: Grover Zampa Vineyards Ltd. - Key offerings

11.9 John Distilleries Pvt. Ltd.
- Exhibit 84: John Distilleries Pvt. Ltd. - Overview
- Exhibit 85: John Distilleries Pvt. Ltd. - Product / Service
- Exhibit 86: John Distilleries Pvt. Ltd. - Key offerings

11.10 LVMH Moet Hennessy Louis Vuitton SE
- Exhibit 87: LVMH Moet Hennessy Louis Vuitton SE - Overview
- Exhibit 88: LVMH Moet Hennessy Louis Vuitton SE - Business segments
- Exhibit 89: LVMH Moet Hennessy Louis Vuitton SE - Key news
- Exhibit 90: LVMH Moet Hennessy Louis Vuitton SE - Key offerings
- Exhibit 91: LVMH Moet Hennessy Louis Vuitton SE - Segment focus

11.11 Nira Valley Grape Wines Ltd.
- Exhibit 92: Nira Valley Grape Wines Ltd. - Overview
- Exhibit 93: Nira Valley Grape Wines Ltd. - Product / Service
- Exhibit 94: Nira Valley Grape Wines Ltd. - Key offerings

11.12 Pernod Ricard SA
- Exhibit 95: Pernod Ricard SA - Overview
- Exhibit 96: Pernod Ricard SA - Product / Service
- Exhibit 97: Pernod Ricard SA - Key offerings

11.13 RENAISSANCE Winery Pvt. Ltd.
- Exhibit 98: RENAISSANCE Winery Pvt. Ltd. - Overview
- Exhibit 99: RENAISSANCE Winery Pvt. Ltd. - Product / Service
- Exhibit 100: RENAISSANCE Winery Pvt. Ltd. - Key offerings

11.14 SDU WINERY PVT LTD.
- Exhibit 101: SDU WINERY PVT LTD. - Overview
- Exhibit 102: SDU WINERY PVT LTD. - Product / Service
- Exhibit 103: SDU WINERY PVT LTD. - Key offerings

11.15 Sula Vineyards Ltd.
- Exhibit 104: Sula Vineyards Ltd. - Overview
- Exhibit 105: Sula Vineyards Ltd. - Product / Service
- Exhibit 106: Sula Vineyards Ltd. - Key offerings

11.16 Vallonne Vineyards Pvt. Ltd.
- Exhibit 107: Vallonne Vineyards Pvt. Ltd. - Overview
- Exhibit 108: Vallonne Vineyards Pvt. Ltd. - Product / Service
- Exhibit 109: Vallonne Vineyards Pvt. Ltd. - Key offerings

11.17 York Winery Pvt Ltd.
- Exhibit 110: York Winery Pvt Ltd. - Overview
- Exhibit 111: York Winery Pvt Ltd. - Product / Service
- Exhibit 112: York Winery Pvt Ltd. - Key offerings

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist
- Exhibit 113: Inclusions checklist
- Exhibit 114: Exclusions checklist

12.3 Currency conversion rates for US$
- Exhibit 115: Currency conversion rates for US$

12.4 Research methodology
- Exhibit 116: Research methodology
- Exhibit 117: Validation techniques employed for market sizing
- Exhibit 118: Information sources

12.5 List of abbreviations
- Exhibit 119: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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