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India among world’s fastest growing alcohol markets 

New Delhi: India is among the fastest growing alcohol markets in the world.

Rapid increase in urban population, sizable middle class population with rising spending power, and a sound economy are certain significant reasons behind increase in consumption of alcohol in India.

This was revealed by MarketResearchNest.com in its report “Indian Alcohol Consumption – The Changing Behavior.”

The 60-page report with multiple tables and figures provides a comprehensive analysis of the market size of alcohol industry on the basis of type of products, consumption in different states, retail channel and imported and domestic.

The Indian alcohol industry is segmented into IMFL (Indian made foreign liquor), IMIL (Indian made Indian liquor), Wine, Beer and imported alcohol. Imported alcohol has a meager share of around 0.8 percent in the Indian market. The heavy import duty and taxes levied raise the price of imported alcohol to a large extent. Alcohol is exempted from the taxation scheme of GST.

Browse full table of contents and data tables at: https://www.marketresearchnest.com/indian-alcohol-consumption—the-changing-behavior-.html

The Indian alcohol market is growing at a CAGR (Compound Annual Growth Rate) of 8.8 percent and it is expected to reach 16.8 billion liters of consumption by 2022. The popularity of wine and vodka is increasing at a remarkable CAGR of 21.8 percent and 22.8 percent. India is the largest consumer of whiskey in the world and it constitutes about 60 percent of the IMFL market.

Although India is one of the largest consumers of alcohol in the world owing to its huge population, the per capita alcohol consumption of India is very low as compared to the Western countries. The per capita consumption of alcohol per week for 2016 was estimated at 147.3 ml and it is expected to grow at a CAGR of 7.5 percent to 227.1 ml.

Indian states such as Andhra Pradesh, Telangana, Kerala, Karnataka, Sikkim, Haryana and Himachal Pradesh are among the largest consumers of alcohol in the country.

The trends and pattern of alcohol consumption are changing in the country.

With the increasing acceptance of women consuming alcohol, growing popularity of wine and high demand for expensive liquor, the market scenario seems to be very optimistic in the near future. MarketResearchNest.com conducted a consumer research study for the alcohol market with around 1,000 respondents from the cities of Delhi, Chandigarh, Mumbai, Pune, Hyderabad, Kolkata and Bangalore.

The study reflected changing pattern of the consumer’s mindset toward alcohol consumption in India.

(Source: medgadget.com)

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2 Responses to India among world’s fastest growing alcohol markets

  1. A. S. Mathew

    The liquor and drug culture of India will lead the nation into serious setbacks, the highest literate State of Kerala with her higher income status is leading the nation in the liquor consumption which is double of the national average consumption.

    The State of Kerala is a typical example of the high rate of road accidents-crimes-rapes-divorces-broken families etc due to their high level of liquor consumption.

    Half a century back, Toddy was consumed by the working class, the higher level sections of the society in the so called Indian-made foreign liquor. Many high class sector of the society wanted to keep their drinking habit as secret; but now both of the high and low class are in the same boat of their fun journey of destruction enslaved by the liquor addiction.

    The high fat fast food consumption and the liquor are the worst combination to get sick too early in India. India is heading to some massive health crisis.

     
  2. chhotebhai

    Somras is part of purported ancient Indian culture. So its proponents could now say hic hic hurray

     
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