Latest News:- Wine Market in India: Domestic is expected to lead the Type segment during 2024-2028

Wine Market in India to grow at a CAGR of 47.6% during 2024-2028

The Wine Market in India is expected to grow at a CAGR of 47.6% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 1886.4 million. The millennial demographic, comprising over 30% of India's population in 2023 and responsible for approximately 40% of the country's working population, holds significant purchasing power. This demographic is increasingly drawn to alcoholic beverages, including wine, due to their adventurous palates and preference for novelty. Domestic wine market players stand to benefit immensely from this trend, as they can expand their reach and customer base by capitalizing on the millennial population's growing influence in the Indian market throughout the forecast period. 

Get more information on Wine Market in India by requesting a sample report

The Domestic subsegment is expected to dominate the Type segment during the forecast period 

Technavio analysts predict that the Domestic subsegment will lead the Type segment during 2024 and 2028 The Indian wine market is experiencing significant growth due to the increasing importation of wine and the rising demand for premium brands among consumers. This trend is driven by a preference for smooth, rare, and innovative wine flavors. Domestic production is also on the rise to meet this demand, with leading producers like Sula Vineyards introducing new products, such as Dia Sparkler in a 3330 ml can, to cater to evolving consumer preferences. The convergence of tastes and trends has opened up numerous growth opportunities for established wine producers with robust distribution networks to penetrate untapped regions.

Here are the various ways based on which the market is segmented: 

• Type
  • Domestic
  • Imported
• Product
  • Red
  • Fortified
  • White
  • Sparkling
• Geography
  • APAC

Reasons to Purchase the Global Wine Market in India Market Research Report by Technavio. What is in it for you?

• Wealth of Experience: Technavio is an established name in the world of market research. It holds an expertise of more than 20 years in the field, has published 21,000+ reports thereby extensively covering the area in various industries and range of regions
• Insight into Current Market Trends: Our research reports provide our readers insights into the latest market intelligence, competitor strategies, market trends, changes taking place in the industry and customer preferences, forecasted market opportunities that influence them to make better business decisions
• High ROI with Extensive Hands-on Research: Technavio is renowned for offering personalized market research reports as per unique business needs, delving deep into specific markets, product segments and demographics. Additionally, it is also well-known for providing high return on investments through its wide collection of data at pocket-friendly rates

There are several factors that are causing the market to flourish increasing use of online sales channels

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The Indian wine market is a burgeoning industry, with both on-trade and off-trade channels witnessing significant growth. On-trade channels include restaurants, bars, and wine shops, while off-trade channels refer to sales through supermarkets and e-commerce platforms. The market caters to various segments, from mild alcoholic beverages like Spritz drinks and Sparkling wine to table wine, Cannabis-infused wines, and even Canned wines and Natural wines. Augmented reality (AR) technology is being adopted to enhance the customer experience, with AR wine tastings and vineyard tours offering a bucolic, immersive experience. Wine production is increasingly adopting organic methods, with a focus on sustainability and low alcohol-by-volume (ABV) wines. Social media platforms are transforming alcohol consumption norms, with wine connoisseurs sharing their tasting notes and experiences. New trends include the popularity of Mild alcoholic beverages, the refreshing properties of Spritz drinks, and the emergence of Canned liquor. E-commerce platforms are making it easier for consumers to access a wide range of wines, from Sangiovese to Syrah. The market is continually evolving, with innovations like AR technology and Cannabis-infused wines adding to its appeal. Wine tourism is also gaining popularity, offering tourists a unique, immersive experience into the world of wine production. The future of the Indian wine market looks bright, with a growing consumer base and a focus on sustainability and innovation.

Market Research Overview

In the Indian wine market, the production process involves various inputs including primary raw materials, labor, and winery equipment. The primary raw materials consist of fruit concentrates such as grapes, berries, and apples, yeast, and cane or beet sugar. For spirits like whiskey, the raw materials include carbohydrate-rich vegetables or grains such as barley and corn, water, and yeast. Secondary sources and extra ingredients, such as juniper berries, other fruits, herbs, spices, seeds, roots, and barks, are utilized to flavor other distilled alcoholic beverages.

The Wine Market in India is experiencing significant growth, fueled by the increasing use of online sales channels. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/