India is a young population with a median age of 25, which will comprise 55% of the total population by 2025. Disposable incomes too are on the rise as a shift is seen, from a population that ‘saves’ to a population that ‘borrows to spend’. With two or more individuals working to add to the household income – the scope for consumer, convenience and aspirational goods have skyrocketed as consumers have no time or inclination to come home and do chores. “…the consumer market is pegged at a worth of US $507.46 billion for India”, according to a report by Kimberly Momin & Melissa Cyrill that supports the prediction that India is the next big market to watch out for companies looking for serious expansion. The news is especially heartening for new and major existing players in the drinks industry which had been experienced a slowdown in 20192020. The Boston Consulting Group (BCG) and the Confederation of Indian Industry’s foresights gauge India’s share of global consumption at 5.8%, making it a serious topic of perusal for the liquor industry.
India is one of the fastest growing alcobev markets in the world, with an estimated 324.3 million cases sold in 2017. The alcobev industry in India has been growing at more than 12% CAGR for the decade starting 2001 making it one of the fastest growing markets in the World. India is expected to be the third largest consumer economy as its consumption is expected to triple to US$ 4 trillion by 2025, led by shift in consumer behaviour and expenditure pattern. Same way in beer segment over the last five years, on an average, the beer industry recorded a steady growth of about 7% in volume terms. According to a research by CISION, the Indian beer market is projected to grow at a CAGR over 7.6% during the period 2018-2024.
Bu hikaye Ambrosia dergisinin November 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Ambrosia dergisinin November 2019 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
E-commerce In Alcohol Is The New Route To Market Strategy
Post Covid e-commerce could help the industry out of a crisis. But in the new normal the growth rate may not be high. A report.
Processes for alcohol-free beer production: A review
Carlos MULLER1 Luis Eduardo NEVES1 Luciana GOMES1 Munique GUIMARÃES1 Grace GHESTI1 * http://orcid.org/0000-0003-1043-5748
The US and China offer resilience and opportunity for drinks groups
Strong performances in China and the US have shielded multinational drinks companies from the fallout of Covid-19 in recent months. IWSR examines the reasons why.
Increasing demand for nostalgic flavours in drinks
Nostalgic flavours such as peanut butter, lemonade and chocolate have become increasingly popular during the pandemic. IWSR looks at how the trend is manifesting in different beverage categories.
‘80% of the International Awards won by Indian wines are from Karnataka'
The Wine market in India is still in its infancy but is growing at a much faster rate as compared to any other category/ segment. Grover Zampa, the second biggest manufacturer of Wines in India has been on a spending spree acquiring wineries in India to increase their presence in the market. In an interview with Ambrosia, Ravi Vishwanathan, Chairman, Grover Zampa Vineyards speaks about his investments, the Indian market and the possibilities for the future. Excerpts:
Trends in alcohol consumption in Europe continue their positive course
Over recent months, we have seen very welcome findings on drinking behaviours released by leading health authorities across Europe, particularly with regards to the decline in underage drinking. This contrasts sharply with misleading coverage which often suggests that overall consumption is dangerously on the increase, in particular since the pandemic started, writes spirits Europe Director General Ulrich Adam.
Pernod Ricard and Brown Forman Merger Speculation
As speculation mounts about the strategic merger between Pernod Ricard & Brown & Forman, we look at the far reaching consequences of the deal.
Glasgow Whisky announces distillery purchase to expand global business
The company is expanding its wings with an environmentally sustainable and energy efficient distillery
Excise revenues save the day for Maharashtra and Karnataka
The pandemic has not much changed consumption levels of liquor in Maharashtra, though the excise department may fall short of the excise revenue target of ₹19,225 crores for 2020-21. Home delivery of liquor in Maharashtra has done exceedingly well as it has earned almost equal revenue for the State as compared to last year.
Bacardi adds flavour to Indian market
Over the past few years, Bacardi has further strengthened its position in India as a premium brand. Known for its diverse brand portfolio, Bacardi aims at bringing superior quality spirits to the market. Zeenah Vilcassim, Marketing Director, Bacardi India, unveils her strategy for the Indian market.
