The import volume of Fortified Wine or Must to India saw substantial fluctuation over the years, reaching 3.6408 million kilograms in 2023. The past decade showed significant variations, with peaks in 2017 and consistent growth from 2018 to 2023. The notable surges were in 2017 (50.65%) and 2018 (36.31%). Noteworthy declines were observed in 2014 (-25.47%) and 2020 (-12.08%). The average annual growth rate (CAGR) over the last five years stood at 3.6%, indicating a moderate but steady increase.
Future trends to watch for include:
- Steady growth: The forecast indicates a steady year-on-year growth of around 3.34% CAGR over the next five years.
- Market stability: Anticipate minor fluctuations but overall stability with projected imports reaching around 4.5041 million kilograms by 2028.
- Economic influences: Watch for economic policies and consumer demand shifts that could impact import volumes significantly.
