The latest report by IMARC Group, titled “India Wine Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The India wine market size reached US$ 164.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 477.9 Million by 2028, exhibiting a growth rate (CAGR) of 18.9% during 2023-2028.
Wine refers to an alcoholic beverage that is produced by fermenting the juice of grapes. It comprises grapes, yeast, sugar, oak chips or barrels, and sulfur dioxide. It offers improved cognitive function, such as thinking and memory skills, and prevents damage to the brain cells of individuals. It assists in lowering the risk of heart disease and increasing levels of good cholesterol (HDL) while reducing the formation of blood clots. As it also aids in reducing the risk of type 2 diabetes by improving insulin sensitivity and glucose metabolism, the demand for wine is rising in India.
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India Wine Market Trends and Drivers:
At present, the increasing demand for wine due to the rising consumption of wine at social events, such as weddings, corporate functions, and gatherings, represents one of the primary factors propelling the market growth in India. Besides this, the growing consumer preferences towards smooth, unique, and innovative flavors in wine is offering a positive market outlook in the country. Apart from this, the rising demand for premium wine brands among consumers is contributing to the market growth. Moreover, the wide availability of wine through various distribution channels, such as online and offline stores, is bolstering the growth of the market in India. Furthermore, the rising popularity of wine due to the increasing number of hotels, restaurants, and cafes in India is strengthening the growth of the market.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product Type:
- Still Wine
- Sparkling Wine
- Fortified Wine and Vermouth
Breakup by Color:
- Red Wine
- Rose Wine
- White Wine
Breakup by Distribution Channel:
- Off-Trade
- Supermarkets and Hypermarkets
- Specialty Stores
- Online Stores
- Others
- On-Trade
Breakup by Region:
- North India
- West and Central India
- South India
- East India
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