The Increasing Popularity of Wine Propelling Alcohol Industry
Added: (Mon Jan 08 2018)
Pressbox (Press Release) -
“With the increasing health consciousness, the popularity of wine is increasing in the Indian population, says RNCOS”
Rapid increase in urban population with rising spending power, and a sound economy are certain significant reasons behind increase in consumption of alcohol in India. Though India is the third largest alcohol market by volume, the per capita alcohol consumption of India is very low as compared to the western countries and is expected to grow at a CAGR of 7.5% by 2022 as per RNCOS analysis.
While highlighting the potential of this industry, Shushmul Maheshwari, CEO – RNCOS said, “The popularity of high end and super premium categories are on rise in the country. In the cities such as Mumbai, Bangalore and Pune, youngsters are trying to opt for high-end brands though it is occasionally. Premium brands such as William Grant and Sons and other top brands are expanding their portfolio in India.”
According to RNCOS, vodka has emerged as the preferred liquor among the youth at a growth rate of 22% per annum over the last few years. However, the consumption of vodka is still low as compared to whiskey and beer. Further drinking habits are changing in the country on a very fast pace as consumers are looking for good quality beers with varied taste.
The changing industrial trend and rising consumption of alcoholic drinks has resulted in popularity of alcoholic beverages in the country. The trends and pattern of alcohol consumption are changing in the country. With the increasing acceptance of women consuming alcohol, growing popularity of wine and high demand for expensive liquor, the market scenario seems to be very optimistic in the near future.
With more than a decade of experience in Food and beverages industry, RNCOS can act as a potential growth partner in all your business endeavors, be it product launching, geographic expansion, sales improvement, distributor/retailer tie-ups etc. We help make your business flourish by studying the market dynamics, collating with your business and devising the right strategies.
Download the white paper from this link: http://rncos.viewpage.co/Indian-Alcohol-Industry
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.