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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.
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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.
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.
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.
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
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.
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.
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.
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.
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.
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 |
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