India Wine Market to Reach US$ 802.9 Million by 2032, Propelled by Increasing Consumption of Various Alcoholic Beverages

February 15, 2023 | Food & Beverages

According to the latest report by IMARC Group, titled “­­India Wine Market Report by Product Type (Still Wine, Sparkling Wine, Fortified Wine and Vermouth), Color (Red Wine, Rose Wine, White Wine), Distribution Channel (Off-Trade, On-Trade), and Region 2024-2032,” the India wine market size reached US$ 195.3 Million in 2023. Wine is a brewed alcoholic beverage that is composed through harvesting, pressing, purifying, and fermenting sugary juice extracted from crushed grapes. It mainly consists of water and a certain percentage of alcohol by volume (ABV) to create its various fortified versions. During their production and aging phase, wine is incorporated with additional components, including residual sugar (RS), glycerol, acids, phenolics (anthocyanins and tannins), and aromatic compounds, such as esters, pyrazines, terpenes, thiols, and lactones. These ingredients offer wine a refreshing taste and protect it from spoilage by mitigating enzymatic browning. Wine can also be combined with other compounds, including iron, magnesium, and potassium, which may be traced back to the grapes or the yeast. Wine is a rich source of antioxidants that can help treat the common cold, regulate blood sugar, lower cholesterol levels, reduce cancer risk, and protect against cell damage. Apart from this, wine enhances the taste of meals and decreases depression and anxiety by providing a relaxing experience; thus, it can be moderately consumed directly or extensively used as a key ingredient in diverse dishes.

India Wine Market Trends:

One of the prime factors driving the India wine market is the growing consumption of various alcoholic beverages. In line with this, the increasing demand for premium drinks and the emerging trend of socializing at restaurants and bars, especially amongst the younger demographics during social gatherings and events, are acting as another growth-inducing factor. Moreover, the large-scale product utilization in cooking applications to intensify the flavor and aroma of finished dishes is supporting the market growth. Additionally, rising consumer awareness regarding the numerous health benefits associated with the moderate consumption of wine, such as preventing circulatory and heart diseases like atherosclerosis, coronary heart disease, heart attack, failure, and stroke, is favoring the market growth. Furthermore, the extensive usage of distinct biotechnological approaches, including a two-step process to brew wine twice by adding sugar and yeast, is propelling the market growth. This is further supported by the advent of marijuana-infused, gluten-free, or organic, chemical-free wines with higher concentrations of antioxidants. Besides this, the escalating efforts made by key players to ensure product availability across diverse online distribution channels to increase the profit margins of wine vendors and cater to the constantly evolving consumer preferences are supporting the market growth. Other factors, including continuous celebrity endorsements, the ongoing premiumization of wine manufactured with high-quality ingredients, and the fueling product accessibility in effective packaging solutions, are positively stimulating the market growth. Looking forward, the market value is projected to reach US$ 802.9 Million by 2032, expanding at a CAGR of 17.01% during 2024-2032. 

Market Summary:

  • Based on the product type, the market is categorized into still, sparkling, and fortified and vermouth wines. Amongst these, still wine represents the largest segment.
  • On the basis of the color, the market is segregated into red, rose, and white wine. At present, red wine leads the market.
  • Based on the distribution channel, the market has been bifurcated into off-trade (supermarkets and hypermarkets, specialty stores, online stores, and others) and on-trade. Currently, off-trade holds the majority of the market share.
  • On a regional basis, the market has been segmented into North, West and Central, South, and East India. Amongst these, West and Central India are leading the market position in the segment.
  • The competitive landscape of the industry has also been examined, covering the competitive structure and key player profiles.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Product Type, Color, Distribution Channel, Region
Region Covered North India, West and Central India, South India, East India
Customization Scope 10% Free Customization
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India Wine Market to Reach US$ 802.9 Million by 2032, Propelled by Increasing Consumption of Various Alcoholic Beverages
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