The Burgeoning Alcoholic Beverage Market in India: A Comprehensive Overview

Market Statistics and Projections

India's alcoholic beverage market stands tall as the sixth largest globally in terms of revenue generation.

Market reports predict a promising growth trajectory, with the industry poised to reach USD 397 billion, exhibiting a remarkable CAGR of 74% over the projected period.

The Alcoholic Drinks market in India is projected to grow by 400% from 2024-2029, resulting in a market volume of US$573 billion.

Growth Drivers

• Rising incomes
• Urbanization
• Increased disposable income
• Changing social norms
• Growing popularity of premium and imported beverages

These factors are fueling the expansion of the alcoholic beverage industry in India.

Industry Outlook

ICRA, a rating agency, forecasts a volume growth of 4-5% for the Indian alcohol beverages (alcobev) industry in FY2025.

ICRA also predicts steady revenue growth of 8-10% for domestic alcohol beverage companies in India.

The industry is projected to reach INR 64 billion over the next five years, driven by the aforementioned factors.

Conclusion

India's alcoholic beverage market is poised for significant growth, driven by rising incomes and urbanization.

The industry is expected to witness a surge in demand for premium and imported beverages, contributing to its overall growth trajectory.

The positive outlook for the alcoholic beverage market in India presents promising opportunities for both domestic and international players.