According to the report by Expert Market Research (EMR), the India alcohol market size reached a value of USD 64.19 billion in 2023. Aided by the blend of cultural shifts, regulatory changes, and an increasing appetite for diverse beverage options, the market is projected to further grow at a CAGR of 6.7% between 2024 and 2032 to reach a value of USD 115.27 billion by 2032.
In India, alcohol plays a multifaceted role, intertwining with cultural practices, social gatherings, and the burgeoning hospitality sector. The sector encompasses a wide array of products, including spirits (whiskey, rum, vodka, gin), beer, wine, and traditional drinks, catering to a diverse consumer base with varying preferences. This diversity is one of the market’s strongest drivers, as consumers increasingly seek new and premium beverage experiences.
The India alcohol market growth is significantly fuelled by the country’s burgeoning middle class and young demographic. With rising disposable incomes and a shift towards urban lifestyles, there is a marked increase in alcohol consumption among the young and middle-aged populations. This demographic is not only indulging in alcohol consumption for social and leisure activities but is also showing a pronounced preference for premium and imported brands, driving the market towards higher-value growth.
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Another key factor contributing to the India alcohol market expansion is the gradual liberalization of regulations pertaining to alcohol production, sale, and consumption. Several states in India have begun easing restrictions, enabling a more accessible market environment for both domestic and international players. This regulatory easing is accompanied by an increase in the number of microbreweries and distilleries, fostering innovation and diversity in product offerings.
As per the India alcohol market analysis, the trend towards health consciousness among Indian consumers is leading to a growing demand for low-alcohol and alcohol-free alternatives. This shift is influencing product development and marketing strategies, with companies increasingly focusing on creating beverages that offer the taste and experience of alcohol while catering to health and wellness trends. Experience-driven consumption is another key trend, with consumers seeking more than just a drink. They are looking for unique experiences, be it through themed bars, experiential tastings, or alcohol-related events and festivals. This trend is pushing establishments and brands to offer more immersive and engaging consumer experiences.
Consumers are increasingly gravitating towards premium and luxury alcohol brands, driven by rising disposable incomes and the desire for high-quality experiences which also contributes to the India alcohol market share. This trend is particularly evident in the spirits and wine segments, where there is a growing appreciation for aged whiskeys, craft gins, and fine wines, often associated with status and sophistication.
Moreover, the market is witnessing the rise of online retail and home delivery services, particularly in urban areas. The COVID-19 pandemic accelerated this trend, as lockdowns and social distancing norms prompted consumers to seek convenient and safe purchasing options. As per the India alcohol market outlook, online platforms are not only expanding market reach but also offering consumers a wider variety of choices, including rare and niche products.
The craft beer and artisanal spirits segments are experiencing significant growth within the market. Consumers are increasingly interested in locally brewed beers and spirits with unique flavours and stories. This interest is driving the success of small-scale breweries and distilleries, emphasising quality, craftsmanship, and local ingredients. There is a growing appreciation for local and regional alcohol brands in alcohol market in India that reflect local cultures, traditions, and tastes. This trend is supporting the growth of indigenous spirits, regional wines, and traditional brews, providing a boost to local economies, and promoting cultural heritage.
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Market Segmentation
The market can be divided based on type, availability of the raw material, and region.
Market Breakup by Type
- Beer
- Economy
- Premium
- Luxury
- Indian Made Foreign Liquour (IMFL)
- Economy
- Premium
- Luxury
- Indian Made Liquour (IML)
- Economy
- Premium
- Luxury
- Alcopop / Sweetened Alcoholic Beverages
- Economy
- Premium
- Luxury
- Others
Market Breakup by Availability of the Raw Material
- ENA
- Molasses
- Corn
- Jowar
- Bajra
- Malt Spirit – Barley
- Graph Spirit
- Others
Market Breakup by Region
- North India
- South India
- East India
- West India
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India alcohol market. Some of the major players explored in the report by Expert Market Research are as follows:
- Radico Khaitan Ltd.
- Pernod Ricard India Private Ltd.
- United Spirits Ltd
- Globus Spirits Limited
- Jagatjit Industries Limited
- Mohan Meakin Ltd
- Sula Vineyards Ltd
- United Breweries Ltd
- Som Distilleries and Breweries Ltd
- Tilaknagar Industries Ltd
- Others
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