The demand for wine in India has shown varied patterns over the past decade. Starting from 2.0 thousand metric tons in 2014, there was a significant increase to 3.0 thousand metric tons in 2015, a 50% year-on-year growth. The next few years saw stabilization at that level until a spike to 4.0 thousand metric tons in 2018. After a 17% drop in 2020, the market rebounded back to 4.0 thousand metric tons by 2021, maintaining this level through 2023. The compound annual growth rate (CAGR) from 2019 to 2023 stands at 0%. In 2024, the forecast predicts an increase to 4.17 thousand metric tons, growing steadily to 4.59 thousand metric tons by 2028. The forecasted 5-year CAGR is 1.94%, leading to an overall 10.07% growth over this period.
Future trends to watch for include potential impacts of increased consumer education on wine and changing lifestyles contributing to more consistent growth patterns. Additionally, monitoring import regulations and local production capabilities will be vital in predicting further market expansions or contractions.
