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Key regions: Worldwide, United States, Russia, United Kingdom, India
The Alcoholic Drinks market in India has experienced significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: Indian consumers have shown a growing interest in premium and craft alcoholic drinks, as they seek higher quality and unique experiences. This trend is fueled by the rising disposable income and changing lifestyles of the middle-class population, who are increasingly willing to spend more on premium products. Additionally, there is a growing preference for healthier options such as low-alcohol or non-alcoholic beverages, as consumers become more health-conscious.
Trends in the market: One of the key trends in the Indian alcoholic drinks market is the increasing popularity of spirits, particularly whiskey. Whiskey consumption has been on the rise, driven by the growing urban population and the influence of Western drinking culture. This has led to an expansion of whiskey distilleries and a wider variety of whiskey brands available in the market. Another trend is the growing demand for flavored alcoholic beverages, such as flavored vodka and rum. These products appeal to younger consumers who are looking for innovative and exciting flavors. The introduction of new flavors and variants by both domestic and international brands has further fueled the growth of this segment.
Local special circumstances: The Indian alcoholic drinks market is unique due to its diverse cultural and religious beliefs. While alcohol consumption is socially accepted in many parts of the country, there are also regions where it is frowned upon or even prohibited. This has led to variations in consumption patterns and preferences across different states and cities. For example, in some states, the sale of alcohol is restricted or regulated by the government, leading to a higher demand for bootlegged or illicit alcohol.
Underlying macroeconomic factors: The growth of the alcoholic drinks market in India is also influenced by underlying macroeconomic factors. The country's strong economic growth and rising middle-class population have led to increased consumer spending power. This has resulted in a higher demand for premium and imported alcoholic drinks. Furthermore, the changing demographics and urbanization have contributed to the growth of the market. As more people move to urban areas and adopt a Western lifestyle, the demand for alcoholic beverages has increased. Additionally, the rise of e-commerce and online platforms has made it easier for consumers to access a wide range of alcoholic drinks, further driving market growth. In conclusion, the Alcoholic Drinks market in India is experiencing growth due to changing customer preferences, emerging trends, and local special circumstances. The increasing demand for premium and craft drinks, the popularity of spirits and flavored beverages, and the influence of diverse cultural and religious beliefs are all contributing to the development of the market. Additionally, underlying macroeconomic factors such as economic growth, rising middle-class population, and urbanization are driving the growth of the market.
Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.
Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.
Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.
Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)