The import of grape wines and grape must to India experienced notable fluctuations from 2013 to 2023. After a dip in 2014 by 20.31% YoY, there were periods of moderate recovery and decline. Significant growth occurred in 2021, up by 24.67%, tapering to more moderate increases in 2022 (3.29%) and 2023 (3.12%). By 2023, imports stood at 31.438 million USD. The 5-year CAGR leading to 2023 was 2.83%. Forecasting ahead, the market is expected to grow, achieving a CAGR of 2.31% over the next five years, reaching 36.409 million USD by 2028.
Looking forward, trends to watch for include:
- Increasing domestic consumption of premium and imported wines.
- Potential impacts of trade policies and tariffs on import volumes.
- Shifts in consumer preferences towards sustainable and organic wine options.
- Exchange rate fluctuations affecting import costs and market prices.
