India Wine Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 17.01% (2024-2032)
The increasing development of modern retail infrastructure, such as supermarkets, hypermarkets, and specialty wine stores, is making it easier for consumers to access a wide variety of wines. According to IMARC Group, The India wine market size reached US$ 195.3 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 802.9 Million by 2032, exhibiting a growth rate (CAGR) of 17.01% during 2024-2032.
India Wine Industry Trends and Drivers:
The increasing interest in wine education is making consumers more knowledgeable about different wine varieties and tasting notes. This awareness is being spread through wine clubs, tasting events, and media coverage, making wine more approachable and attractive to a broader audience. Indian wineries are also focusing on improving the quality of their wines by adopting international standards and practices in viticulture and winemaking. Investments in technology and expertise are resulting in higher quality wines, which in turn enhances consumer trust and satisfaction. Additionally, the shift in lifestyles among the populations is noticeable in their dining and drinking habits. Young professionals and millennials are particularly inclined towards wine consumption. This demographic shift is driving the demand for wine as a preferred alcoholic beverage for social gatherings and meals.
In addition, the rise of e-commerce platforms is revolutionizing the way consumers purchase wine. Online wine stores and delivery services are making it convenient for consumers to explore and buy a wide range of wines from the comfort of their homes. This convenience and accessibility are driving wine sales in the Indian market. Besides this, the implementation of supportive policies to improve domestic wine production is contributing to the market growth. These include reducing import duties on winemaking equipment and raw materials, offering subsidies for vineyard development, and providing training programs for viticulturists. These initiatives help local wineries to produce quality wines at competitive prices. The growing demand for wine in the tourism and hospitality industry to enhance the dining experience of guests is positively influencing the market in India. Hotels, resorts, and restaurants are incorporating wine into their menus, promoting wine tourism, and hosting wine-tasting events.
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India Wine Cement Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
- Still Wine
- Sparkling Wine
- Fortified Wine and Vermouth
Breakup by Color:
- Red Wine
- Rose Wine
- White Wine
Breakup by Distribution Channel:
- Off-TradeSupermarkets and Hypermarkets
Specialty Stores
Online Stores
Others - On-Trade
Breakup by Region:
- North India
- West and Central India
- South India
- East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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