Wine Market in India to Grow by USD 1.89 Billion from 2024-2028, Driven by Expanding Online Sales Channels; AI Redefining Market Landscape- Technavio

NEW YORK, Oct. 22, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The Wine Market in India size is estimated to grow by USD 1.89 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  47.6%  during the forecast period. Increasing use of online sales channels is driving market growth, with a trend towards rising population of millennials worldwide. However, campaigns against alcohol consumption  poses a challenge - Key market players include Big Banyan Wines, Century Wines Pvt. Ltd., Charosa Wineries Ltd., Chateau d Ori, Deccan Plateau Vineyards Pvt Ltd., Fratelli Wines Pvt. Ltd., Good Drop Wine Cellars Pvt Ltd., Grover Zampa Vineyards Ltd., John Distilleries Pvt. Ltd., KRSMA Estates Pvt. Ltd., LVMH Moet Hennessy Louis Vuitton SE, Naveen Distillery, Nira Valley Grape Wines Ltd., Pernod Ricard SA, RENAISSANCE Winery Pvt. Ltd., SDU WINERY PVT LTD., Sula Vineyards Ltd., The Tonia Group, Vallonne Vineyards Pvt. Ltd., and York Winery Pvt Ltd..

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Millennials, who represent a significant portion of India's population and workforce, are driving the growth of the wine market in the country. In 2023, millennials accounted for over 40% of the total working-age population and contributed substantially to the economy. This demographic group has a considerable spending power and is increasingly interested in trying new wine variants and flavors. The millennial population, which made up one-third of India's total population in 2023, presents a massive opportunity for domestic wine producers to expand their customer base and geographical presence. The millennials' influence on the wine market is expected to continue growing during the forecast period. 

The Indian wine market is experiencing in popularity, particularly for red wine and rosé. Consumers are drawn to the health benefits and luxurious appeal of these alcoholic beverages. Wine production in India is on the rise, with an increasing focus on organic methods and sustainable practices. Wine tourism is also gaining traction, with vineyard tours and wine tastings attracting both domestic and international visitors. Augmented reality (AR) technology is being used to enhance the wine-buying experience, allowing customers to virtually try before they buy. Natural wines, canned wines, and even cannabis-infused wines are emerging trends. Health legislation is a key consideration for wine producers, as they navigate the complex regulations surrounding alcoholic beverages. The wine market dynamics are shifting, with both off-trade and on-trade channels seeing growth. Table wine, mild alcoholic beverages like spritz drinks, and premium wines are popular choices. Wine cultivation is expanding, with new grape varieties and wine styles being explored to cater to evolving consumer preferences. Overall, the Indian wine market is an exciting and dynamic space, offering opportunities for both producers and consumers alike. 

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•         The wine market in India faces challenges due to increasing campaigns against alcohol consumption and the growing preference for non-alcoholic beverages. Health concerns and awareness about healthy lifestyles are encouraging people to opt for healthier drink options. The prolonged consumption of alcoholic beverages, including wine, can lead to various health issues such as blackouts, seizures, and liver failure. Strict advertising restrictions and social campaigns against alcohol use further hamper market growth. These factors may negatively impact the wine market in India during the forecast period.

•         The Indian wine market faces several challenges. One trend is the emergence of cannabis-infused wines, which raises health legislation concerns. As a luxury good, wine competes with mild alcoholic beverages like spritz drinks and canned liquor. Brick-and-mortar stores dominate off-trade sales, but on-trade channels in restaurants and bars are growing. Wine varieties, grape varieties, and wine styles continue to expand, with premium wines driving growth. Wine market dynamics include bucolic taste preferences, refreshing properties, and alcohol consumption trends. Wine cultivation in India is increasing, but challenges remain in producing high-quality still wine and sparkling wine. E-commerce platforms are emerging as key sales channels, catering to wine connoisseurs. Low ABV wines are gaining popularity due to social pressures against high alcohol consumption. Overall, the Indian wine market is dynamic and evolving, presenting both opportunities and challenges.

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This wine market in India report extensively covers market segmentation by  

1. Type 
• 1.1 Domestic
• 1.2 Imported
2. Product 
• 2.1 Red
• 2.2 Fortified
• 2.3 White
• 2.4 Sparkling
3. Geography 
• 3.1 APAC

1.1 Domestic-  The wine market in India is experiencing significant growth due to increasing imports and rising consumer preferences for premium wine brands. Driven by the trend of converging tastes and extensive distribution networks, producers are launching innovative products, such as Sula Vineyards Ltd.'s Dia Sparkler in a 330 ml can. India's growing economy and urbanization have increased per capita disposable income, expanding the consumer base for premium wine brands. Additionally, the use of wine in cooking applications and the popularity of international cuisine are increasing the demand for cooking wine. The shift towards more diversified foods like poultry, fish, and vegetables will further fuel the demand for cooking liquor products during the forecast period.

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The Wine market in India is experiencing in popularity, with more and more consumers discovering the bucolic taste and refreshing properties of this alcoholic beverage. Wine, with its low alcohol-by-volume (ABV) range, is increasingly being preferred over other high-alcoholic beverages. E-commerce platforms are making it easier for wine enthusiasts to explore and purchase their favorite wines from the comfort of their homes. Wine connoisseurs are always on the lookout for new and unique wines, leading to an increase in demand for natural wines, canned liquor, and even cannabis-infused wines. The wine industry in India is also focusing on sustainable wine production using organic methods. Wine tourism is on the rise, with vineyard tours and wine tastings becoming popular activities for both locals and tourists. The customer experience is being enhanced through the use of augmented reality (AR) technology, allowing consumers to virtually explore vineyards and learn about the wine-making process. The wine market in India is segmented into off-trade and on-trade channels. Off-trade channels include retail stores and supermarkets, while on-trade channels include restaurants and bars. Mild alcoholic beverages like table wine, sparkling wine, and spritz drinks are popular choices in both segments. The future of the wine market in India looks bright, with innovation and sustainability driving growth in this exciting industry.

The Wine market in India is experiencing in demand, driven by the bucolic appeal and refreshing properties of this alcoholic beverage. With an increasing number of wine connoisseurs, there is a growing preference for wines with low alcohol-by-volume (ABV) and still or sparkling varieties, including red, rosé, and white. E-commerce platforms have made it easier for customers to access wines from around the world. The wine industry is also exploring new trends such as canned liquor, organic methods, and even cannabis-infused wines. Health legislation and the luxury appeal of wine have led to the growth of wine tourism, with vineyard tours and wine tastings becoming popular experiences. Wine production is undergoing a transformation with the adoption of augmented reality (AR) technology, natural wines, and canned wines. The market dynamics of wine are influenced by both off-trade and on-trade channels, with mild alcoholic beverages like table wine and spritz drinks also gaining popularity. Wine cultivation continues to be a significant aspect of the industry, with various grape varieties and wine styles contributing to the premium wine market.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Type
• Domestic
• Imported
• Product
• Red
• Fortified
• White
• Sparkling
• Geography
• APAC

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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