According to the latest report by IMARC Group “India Wine Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The India wine market size reached US$ 164.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 477.9 Million by 2028, exhibiting a growth rate (CAGR) of 18.9% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Wine represents an alcoholic beverage made with the fermented juice of grapes. It consists of additional condiments, such as water, aromatics, potassium metabisulfite, potassium sorbate, acids, tannins, alcohol, and sugar, to inhibit enzymatic browning. Wine is rich in antioxidants that are useful in lowering bad cholesterol, regulating blood sugar levels, treating a common cold, reducing the risk of cancer, and protecting against cell damage. It is consumed directly or widely used in cooking applications to intensify the aroma and flavour of finished dishes. Commonly available in still, sparkling, fortified, and vermouth variants, moderate consumption of wine prevents circulatory and heart diseases, including coronary heart disease, atherosclerosis, heart attack, failure, and stroke.
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India Wine Market Trends:
The escalating product demand in the food and beverage (FB) industry across the country to bring out the richness and impart delicate flavours to meals is among the primary factors driving the India wine market. Besides this, the elevating requirement for gluten-free alcoholic beverages, owing to the rising health consciousness in individuals and the increasing incidences of celiac disease, is further augmenting the market growth. Moreover, the introduction of organic wines that restrict the use of chemicals in their preparation and harvest, which provide various health and environmental benefits, such as higher concentration of antioxidants, better heart health, easier processing by the liver, and lower carbon footprint, is also catalysing the market across India. Apart from this, the growing product popularity among young consumers, on account of the emerging trend of socializing at restaurants and bars, is acting as another significant growth-inducing factor. Furthermore, the inflating need for premiumization of this beverage manufactured with high-quality ingredients and the launch of new flavoured fortified drinks are expected to bolster the India wine market in the coming years.
Report 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-Trade
- Supermarkets 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.
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