India Wine Market Assessment, By Wine Type [Red Wine, White Wine, Rose Wine, Sparkling Wine, Fortified Wine, Others], By Packaging [Canned Wine, Bottled Wine], By Retail Channel [Off-Premises-E-Commerce, Multi-Brand Liquor Stores, Small Liquor Stores, Bra

India Wine Market Assessment, By Wine Type [Red Wine, White Wine, Rose Wine, Sparkling Wine, Fortified Wine, Others], By Packaging [Canned Wine, Bottled Wine], By Retail Channel [Off-Premises-E-Commerce, Multi-Brand Liquor Stores, Small Liquor Stores, Brand Vineyards, Duty-Free Stores, Canteen Stores Department; On-Premises-Restaurants (Fine Dine, Casual, Buy Your Own Liquor), Café/Bars/Pubs, Distilleries], By Production [Locally Produced, Imported Wine], By Region, Opportunities, and Forecast, FY2016-FY2030F

The India wine market will witness a strong double digit CAGR of 17.41% during the forecast period between FY2023 and FY2030 led by growth drivers such as increasing disposable income, rapidly changing lifestyles among urban consumers particularly women, exposure to western cultures and growing number of foreign business and leisure tourists in India have contributed to the rising consumption of wine in India.

The wine market in India was valued at US$196.27 million in FY2022 and its value market size will increase above US$708.75 million in FY2030. Multiple factors will contribute to this growth including the country’s large Gen Z and Millennials population base of over 600 million that falls above the legal drinking age and major shift towards drinking culture especially in the urban areas. Drinking alcohol including wine is now increasingly considered as status symbol and the earlier social & cultural taboo around consumption of alcoholic beverages is disappearing. Among the total consumption of wine in terms of volume in India, imported wine accounted for more than 25 percent while the rest was produced locally.

Process for Wine Production

Wine is an alcoholic beverage that has an alcohol concentration between 5 and 13%. The earliest fermented food known to humankind is wine. The primary fruit used in the creation of many types of wine is grapes. Other fruits, such as the apple renowned for cider; the pear known for perry, and the plum known for table and white wines; are also used to produce wine.

Increase in Online Trade

The growth of Indian wine market is also being driven by the rise in the usage of online platforms for alcohol including wine purchases. Purchasing wine online adds to the convenience of the consumers. Thus, the manufacturers and retailers are now concentrating on creating new online wine trade platforms. Technology advancement and distribution of wine through e-commerce networks will lead to further grow of wine market in the forecast period.

Health Benefit of Wine

Wine by-products are well-flavoured and visually appealing, which makes it easier to use them in the creation of new food products that are packed with health advantages. Wine and allied products possess antioxidant, antibacterial, anticancer and anti-inflammatory properties due to high polyphenol content.

Government Scheme

For the production and sale of wines in India, the state governments are in-charge of establishing laws for governing the imports of alcoholic beverages, including wine in their respective regions. The state's wine industry is considered as a small-scale industry for the purposes of trade and investment barriers established for small-scale businesses in India.

Impact of COVID-19 on India Wine Market

The wine and allied alcoholic beverages market had witnessed a significant decline during mid-2020 and mid-2021 because of the strict social distancing norms and lockdown imposed by the Indian government to curb the spread of COVID-19 pandemic. The widespread shutdown of numerous wine retail sites including the HoReCa sector and restrictions on public transport adversely impacted the distribution of wine throughout the country. However, the biggest change witnessed during the pandemic was the consumer’s purchasing behaviour as they moved to online trade channels for buying wine. The industry is on a rapid recovery path in 2022 and early 2023 post relaxation of COVID-19 social distancing norms and opening of domestic and international tourism related sectors.

Impact of Russia-Ukraine War on India Wine Market

Indian wine farmers were affected in various ways because of the conflict in Ukraine and Russia. Due to the war between the two large European nations, grape exports were completely ceased by both of them. The drop in supply of grapes had affected the production of wine globally as well as in India.

Key Players Landscape and Outlook

India wine market report presents a comprehensive competitive landscape analysis and evaluates the competitive position of various players based on a variety of performance metrics. The report includes financials of the public/listed companies over the previous few years, their growth plans, product development, launch of new products, market share, investments, etc. For instance, Sula Vineyards Limited, the largest wine producer in the country holding market share above 50 percent expressed confidence to generate INR 10 billion in revenues by FY2024 while maintaining its profitability margin.

Why You Should Buy This Report

Market Xcel reports are based on qualitative and quantitative data collected through ‘on-ground’ primary research interventions. Based on our in-depth research, our reports can also provide granular city/state level market size data. The report includes deeper actionable insights provided by the industry experts & Key Opinion Leaders thus offering cutting-edge business solutions. The forecast data included in the report is based on ‘Drivers based forecasting’ technique ensuring accurate decoding of the future.