Published by Wanda Rich
Posted on March 1, 2023
The Indian Made Foreign Liquor (IMFL) segment was estimated to reach a market valuation in excess of INR 1,400 Bn by 2016 end. This reflected a Y-o-Y growth rate of close to 5% over 2015. This segment is estimated to be valued at more than INR 3,000 Bn by 2026, expanding at a CAGR of 5.2% over the forecast period.
NEWARK, Del: The global Indian alcohol market is expected to reach an estimated valuation of US$ 68 billion by 2026, with sales growing at a healthy CAGR of 7.4% from 2016 to 2026. The target market was valued at US$ 33 billion in 2016. In these years, the Indian Made Foreign Liquor (IMFL) segment will exceed a value of US$ 40 billion while growing at a moderate CAGR of 5.2%. This segment will thus contribute to the overall growth of the Indian alcohol market. Further, Andhra Pradesh and Telangana will contribute considerably to the overall market growth.
Rapid urbanization, growing population- particularly in urban spaces, and rising disposable incomes facilitate the growth of the Indian alcohol market during this period of observation. Escalating popularity and adoption of pub and cocktail culture in urban areas will amplify the demand for alcoholic beverages in the country during these years. A rising preference for whiskey, especially among urban consumers, is expected to spur the growth of the Indian alcohol market in the next couple of years.
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Shifts in the country’s demographics will further drive the growth of the target market. A significant portion of the country is above the ages of 18 and 25. In addition, the country’s median age is estimated to be around 27 years. Though the legal drinking age varies from state to state in the country, these demographics are expected to aid the expansion of the Indian alcohol market. Further, rising per capita disposable income will likely result in greater expenditure on various lifestyle and food and beverages products which also includes alcohol. Again, recent years have witnessed a radical transformation in the Indian lifestyle, particularly that of the urban population. With a prominent adoption of pub and cocktail culture, the prospects for the Indian alcohol market will also grow over the years.
Though the IMFL segment leads market growth, beer, country liquor, and wine segments follow closely after the category and aid the expansion of the Indian alcohol market.
Key Takeaways:
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Competitive Landscape
Allied Blenders & Distillers Pvt. Ltd., Bangalore’s SAB Miller India Ltd., and Tilaknagar Industries Ltd., among others, are some of the dominant players in the Indian alcohol market profiled in the full version of the report.
Leading market players are keen on product development and facility expansions. These organizations also adopt diverse organic and inorganic business strategies to improve their market position.
More Insights Into Indian Alcohol Market
In its latest report, FMI offers an unbiased analysis of the global Indian alcohol market, providing historical data from and forecast statistics for 2016 to 2026. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type (IMFL (brandy and cognac, rum, whiskies, white spirits, others), Beer (mild, strong), Wine (red wine, white wine, rose wine), country liquor), make (imported liquor, IMFL, foreign liquor bottled in India, Indian made Indian liquor), gender (male, female), ingredients (grains, molasses, fruits, and vegetables), distribution market (government controlled, open market, auction market), and region.
According to the same reports, based on segmentation, the IMFL category will dominate the market with a CAGR of 5.2%. This category will surpass US$ 40 billion and account for 66% of the overall market revenue. Based on region, the South Zone will likely make substantial contributions to the total market growth. Owing to the presence of a large number of alcohol consumers, Andhra Pradesh and Telangana are estimated to dominate the market. In brief, an adoption of the ‘pub and cocktail’ culture, a growing urban population, shifts in lifestyles, and increasing disposable income will aid the growth of the Indian alcohol market during the projection period.
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The key segments covered in this report are:
By Type
By Make
By Gender
By Ingredients
By Distribution Market
Table of Content
4.1. Introduction
4.2. India Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Trends
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Check Our Latest Food and Beverage Research Reports:
Wine Market Size: The global wine market is estimated to be valued at US$ 513.8 Bn in 2022 and is projected to reach US$ 846.3 Bn by 2032.
Whiskey Market Analysis: The global whiskey market is expected to reach valuation of US$ 80.9 Bn by the year 2021, accelerating at a CAGR of 12.4% by 2022-2032.
Naturally Derived Fatty Alcohol Market Growth: A 6.4% compound annual growth rate (CAGR) is projected for the global naturally derived fatty alcohol market from 2022-2032, with 2022 revenues of US$ 2821 Mn and 2032 revenues of US$ 5250.82 Mn.
Spirits Market Share: The global spirits market is estimated at US$ 56 Bn in 2022 and is projected to reach US$ 92.9 Bn by 2032, at a CAGR of 5.2% from 2022 to 2032.
Alcohol Ingredients Market Trends: According to the research of Future Market Insights, the market for Alcohol Ingredients is anticipated to expand at a CAGR of 5.8% over the forecasted time period.
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