Global Indian Alcohol Consumption Market Insights and Forecast to 2020
Summary –
A new
market study, “Global Indian Alcohol Consumption Market Insights and
Forecast to 2020 “has been featured on WiseGuyReports.
India is one of the fastest growing alcohol markets in the world.
Rapid increase in urban population, sizable middle class population with rising
spending power, and a sound economy are certain significant reasons behind
increase in consumption of alcohol in India.
Our latest report “Indian Alcohol Consumption - The Changing
Behavior” provides a comprehensive analysis of the market size of alcohol
industry on the basis of type of products, consumption in different states,
retail channel and imported and domestic. The Indian alcohol industry is
segmented into IMFL (Indian made foreign liquor), IMIL (Indian made Indian
liquor), Wine, Beer and imported alcohol. Imported alcohol has a meager share
of around 0.8% in the Indian market. The heavy import duty and taxes levied
raise the price of imported alcohol to a large extent. Alcohol is exempted from
the taxation scheme of GST.
The Indian alcohol market is growing at a CAGR of 8.8% and it is
expected to reach 16.8 Billion liters of consumption by the year 2022. The
popularity of wine and vodka is increasing at a remarkable CAGR of 21.8% and
22.8% respectively. India is the largest consumer of whiskey in the world and
it constitutes about 60% of the IMFL market
Also
Read : https://www.einpresswire.com/article/504687151/indian-alcohol-consumption-the-changing-behavior
Though India is one of the largest consumers of alcohol in the
world owing to its huge population, the per capita alcohol consumption of India
is very low as compared to the Western countries. The per capita consumption of
alcohol per week for the year 2016 was estimated at 147.3 ml and it is expected
to grow at a CAGR of 7.5% to 227.1 ml according to our estimates.
The states of Andhra Pradesh, Telangana, Kerala, Karnataka,
Sikkim Haryana and Himachal Pradesh are amongst the largest consumers of
alcohol in India. The most popular channel of alcohol sale in India is liquor
stores as alcohol consumption is primarily an outdoor activity and supermarkets
and malls are present only in the tier I and tier II cities of India.
The trends and pattern of alcohol consumption are changing in
the country. With the increasing acceptance of women consuming alcohol, growing
popularity of wine and high demand for expensive liquor, the market scenario
seems to be very optimistic in the near future. We conducted a consumer
research study for the alcohol market with around 1,000 respondents from the
cities of Delhi, Chandigarh, Mumbai, Pune, Hyderabad, Kolkata and Bangalore.
The study reflected changing pattern of the consumer’s mindset towards alcohol
consumption in India. 3% of the respondents who consumed alcohol favored wine
for its health benefits. Though the popularity of whiskey is highest in the
Indian market, its market share is expected to decrease in future.
FOR MORE DETAILS: https://www.wiseguyreports.com/reports/3410210-indian-alcohol-consumption-the-changing-behavior
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