Future Market Insights recently published its study on India’s alcohol market, which estimated that more than Rs. 2.5 trillion worth of alcohol was consumed in the country, during 2016. The study further projected that consumption of alcohol in India is less likely to decline in the years to come. By the end of 2026, more than 14 billion litres of alcohol will be sold across India.
According to the report, revenues amassed from sales of alcohol in India will soar vigorously at 7.4 percent CAGR, and reach Rs. 5.1 trillion value by the end of 2026. In terms of volume, India’s alcohol consumption in 2016 has been estimated to have surpassed 8 billion litres and it will grow at 5.5 percent CAGR in the due course of forecast period.
An in-depth analysis on India’s alcohol distribution indicated that just above three-fourth of alcohol consumed in the country was government controlled. In 2016, alcohol distributed in India through open market sales made revenues worth over Rs. 400 billion.
The report also pointed out that in 2016, more than 1,800 million litres of strong beer was consumed in India By the end of 2026, according to the report, white wine sales in India will have brought in an estimated Rs. 16.8 billion in revenues.
According to the report, which is titled ‘Alcohol Market: India Industry Analysis and Opportunity Assessment, 2016-2026,’ it is projected that southern and western states of India will continue to contribute to more than 80 percent of alcohol revenues through 2026. Bangalore’s SAB Miller India Ltd. and United Spirits Ltd., and Mumbai-based Tilaknagar Industries Ltd. and Allied Blenders & Distillers Pvt. Ltd. are key players partaking in the growth of India’s alcohol market.
