In 2023, the import of sparkling grape wines to India was valued at approximately 11.3 million US dollars. The forecasted data for 2024 to 2028 shows an upward trend with annual imports projected to reach 13.542 million US dollars in 2028. This equates to a compound annual growth rate (CAGR) of approximately 3.45% over the five-year forecast period. Year-on-year growth rates indicate consistent positive momentum, averaging just above 3%. This suggests a steadily growing demand for sparkling grape wines in India.
Future trends to monitor include:
- Potential economic factors affecting disposable income and luxury spending in India.
- The impact of new trade agreements or tariffs that could affect wine import pricing.
- Consumer preference trends towards international wine brands and new entrants in the market.
- Influences such as changes in cultural celebrations or lifestyle that could drive increased consumption.
