Spirits consumption per capita in India is forecasted to exhibit steady growth from 2024 to 2028. The value increases from 3.09 liters of pure alcohol in 2024 to 3.28 liters in 2028. This reflects a consistent year-on-year growth of approximately 1.6% each year. Compared to 2023, where the consumption per capita stood at 3.03 liters, there is a clear upward trend.
Year-on-Year Variations since 2023:
- 2024: +1.98%
- 2025: +1.62%
- 2026: +1.59%
- 2027: +1.57%
- 2028: +1.23%
Compound Annual Growth Rate (CAGR) Over 5 Years: 1.6%
Future trends to watch for include potential regulatory changes, evolving consumer preferences towards premium and craft spirits, and the impact of economic fluctuations on discretionary spending. Additionally, the increasing emphasis on health consciousness may influence future consumption patterns.
