The fermented beverages market in India has experienced a decline in volume from 17.0 Thousand Metric Tons in 2014 to 11.0 Thousand Metric Tons in 2023. Over the most recent years, the market saw a negative year-on-year variation of -8.33% in 2023. The last 5-year period shows a compound annual growth rate (CAGR) of -3.29%, reflecting a downward trend.
Year-on-year analysis reveals significant fluctuations: the market witnessed its sharpest decline of -17.65% in 2015, followed by a -14.29% drop in 2016. Although some stabilization occurred from 2017 to 2019, volume dipped again in 2020 by -12.31%. In the latest period, a positive variation of 5.26% in 2021 waned to a consistent level in 2022, followed by an -8.33% drop in 2023.
Looking forward, the CAGR for the forecasted period from 2024 to 2028 is expected to be -2.46%, indicating a continued decline but at a slightly more gradual rate compared to the recent past. The estimated total decline over this five-year forecast period is -11.69%.
Future trends to watch for include potential factors such as the introduction of innovative product variants, consumer preferences shifting towards health-centric fermented options, and legislative changes impacting the beverage industry.
