The import of sparkling grape wines to India stood at 0.87051 million kilograms in 2023. Analyzing the year-on-year variations, there was a significant growth of 60.27% in 2013, but a notable decline of -74.37% in 2014. The subsequent years showed positive but moderate growth trends, with fluctuations such as a 13.53% increase in 2018 and a slight decline of -14.65% in 2020, likely impacted by global disruptions such as the COVID-19 pandemic. In the past two years, imports increased by 2.58% in 2022 and 2.46% in 2023. The Compound Annual Growth Rate (CAGR) over the last five years up to 2023 is approximately 2.09%.
Looking ahead, the forecasted imports from 2024 to 2028 indicate a consistent but moderate rise. The 5-year forecast CAGR is 1.86%, with an overall growth rate of 9.66% by 2028, suggesting a steady demand for sparkling grape wines in India. Future trends to watch for include the potential impact of economic recovery post-COVID-19 and consumer preference shifts toward premium alcoholic beverages.
