The India alcohol market consists of a wide range of products including beer, spirits, and wine. Beer dominates the Indian alcohol market with the increasing popularity of premium lager beers across metros and tier I & II cities. Premium lager beers offer high quality taste with low alcohol content appealing to young urban drinkers. Moreover, adoption of western drinking culture and rising social acceptability of public drinking is propelling the consumption of premium beers in bars, pubs, and restaurants.

The global India alcohol market is estimated to be valued at US$ 57,116.16 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The consumption of premium and super-premium alcohol brands is accelerating in India driven by rising disposable income and changing lifestyle of young urban population. Premium brands offer high quality products and unique brand experience attracting young elite class consumers willing to pay extra for premiumization. Leading alcohol companies are innovating premium brands and variants to capture the growing premium segment. For instance, United Spirits launched its premium brand McDowell's No.1 Celebration Rum in multiple states to strengthen its premium portfolio. Moreover, companies are adopting innovative marketing strategies like celebrity endorsement, luxury packaging and organizing premium nights at high-end bars and restaurants to promote premium brands effectively. This is positively impacting the premiumization of Indian alcohol market.

Segment Analysis
The India alcohol market is dominated by the beer segment, accounting for around 43% of the total market share. Beer is the preferred choice of alcohol for socializing and celebrations across various demographic groups in India. Changing lifestyle and rising disposable incomes have further fuelled the demand for beer in the country. Within the beer segment, strong beer varieties account for over 60% sales primarily driven by young population exploring new styles of beer drinking. Wine and spirits segments are also growing steadily but account for lower shares compared to beer currently. However, increasing acceptability of wines for social gatherings and premiumization of spirits are factors that could aid the growth of these segments in the future.

Key Takeaways
The Global India Alcohol Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The market holds potential for further expansion, supported by increasing disposable incomes, evolving social trends, and changing cultural patterns in the country. The global India alcohol market is estimated to be valued at US$ 57,116.16 Mn in 2024 and is expected to exhibit a CAGR of 5.6% over the forecast period 2024-2031.

Regional analysis
The northern region accounts for the largest share in the India alcohol market currently. States like Uttar Pradesh, Punjab and Haryana have a thriving market for beer and spirits. Easier availability and cultural acceptance of alcohol consumption have aided the growth of the alcohol market in northern region. Western region is also growing at afastest pace led by states like Maharashtra and Gujarat where consumption of premium brands is rising rapidly with increasing affordability.

Key players
Key players operating in the India alcohol market are United Spirits Limited, Mohan Meakin Limited, Globus Spirits, Radico Khaitan , Jagatjit Industries, McNally Bharat and Pernod Ricard. United Spirits dominates with over 30% market share led by popular brands like McDowell's No.1, Royal Challenge, and Bagpiper. Mohan Meakin has a strong presence in beer category with brands like Golden Eagle and Silk Premium. These players have been focusing on expansions, premiumization and diversification to strengthen their foothold.

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