The alcoholic beverages market volume in India has experienced considerable fluctuations over the period from 2014 to 2023. 2023 saw the market standing at 2.81 million metric tons, with a marginal year-on-year increase of 0.21%. The market growth rate over the last two years has been minimal, primarily oscillating near flat growth with slight upward variation. The Compound Annual Growth Rate (CAGR) for the past five years indicates an average annual decline of 0.95%, reflecting overall market volatility.
Looking ahead, forecasted data suggests modest growth. From 2024 to 2028, the average annual CAGR is projected to be 0.15%, with an anticipated overall growth rate of 0.75% over this period. This trend indicates a slow but steady recovery and stabilization in the market volume.
Key future trends to watch for include shifts in consumer preferences towards premium and craft segments, increasing regulatory interventions, and the impact of raw material availability and pricing. Additionally, the role of digital marketing and e-commerce in shaping consumer behavior will be critical in driving future growth.
