The ‘Wine Market Outlook in India’ report covers a brief overview of the Wine Industry in India. It will focus in detail about the dynamics of the Industry, the market size and growth rate, the segmentation of wine by price and consumers. The report also covers the market landscape covering the major wine grape growing regions in India and the key importers of wine. This will facilitate the client in analysing the potential opportunities of the wine market with the relevant facts and figures.
About the Industry:
The changing drinking habits of the people of India have changed the fortune of Indian wine market, witnessing a tremendous growth. Favourable and promotional government policies, higher disposable incomes and growth in foreign tourists are some of the reasons for such growth. Present consumption of wine in India is very low with the average per capita consumption at 4.6 ml. However, considering the fact that about a decade earlier markets for wines did not exist at all, the present developments are positive. Wine market in India has been growing at around 30% annually over the last ten years and is expected to have a positive growth in future.
Currently, the Indian wine industry is dominated by three large players who together enjoy over 90% of the total market share, although there is enough room for more players. To cater to this growing demand, some Indian wine makers have started importing foreign made wines and bottling and selling it here. Challenges for the industry include competing against global connoisseurs of wine in the Europe, improving the quality of wines in India, sustaining high growth rates and increasing consumption of wine in India.
Despite challenges, Indian wineries are promoting their produce across the globe by participating in global events. Positive outlook of the government towards this sector has tremendously helped to power growth in this sector. For instance, several Indian states, including Maharashtra, the largest producer of Wine in India, have started to provide duty exemptions that will boost wine consumption. In recent times, Maharashtra has also commissioned sanctioning of wine bars in order to promote domestic consumption of wine. Going forward, the industry is likely to witness entry of many local and foreign players which will help widen markets further.
source: http://www.businesswire.com/
About the Industry:
The changing drinking habits of the people of India have changed the fortune of Indian wine market, witnessing a tremendous growth. Favourable and promotional government policies, higher disposable incomes and growth in foreign tourists are some of the reasons for such growth. Present consumption of wine in India is very low with the average per capita consumption at 4.6 ml. However, considering the fact that about a decade earlier markets for wines did not exist at all, the present developments are positive. Wine market in India has been growing at around 30% annually over the last ten years and is expected to have a positive growth in future.
Currently, the Indian wine industry is dominated by three large players who together enjoy over 90% of the total market share, although there is enough room for more players. To cater to this growing demand, some Indian wine makers have started importing foreign made wines and bottling and selling it here. Challenges for the industry include competing against global connoisseurs of wine in the Europe, improving the quality of wines in India, sustaining high growth rates and increasing consumption of wine in India.
Despite challenges, Indian wineries are promoting their produce across the globe by participating in global events. Positive outlook of the government towards this sector has tremendously helped to power growth in this sector. For instance, several Indian states, including Maharashtra, the largest producer of Wine in India, have started to provide duty exemptions that will boost wine consumption. In recent times, Maharashtra has also commissioned sanctioning of wine bars in order to promote domestic consumption of wine. Going forward, the industry is likely to witness entry of many local and foreign players which will help widen markets further.
source: http://www.businesswire.com/
