Beer demand in India has shown variable trends over the past decade. In 2023, it stood at 684 thousand metric tons, reflecting a 1.18% year-on-year increase. The compound annual growth rate (CAGR) over the past five years was 1.34%. While early years like 2017 exhibited growth spikes, the market faced downturns in years like 2020 due to various factors. The forecasted CAGR for the next five years is 0.93%, indicating a modest growth trajectory.
Future trends to watch for include:
- Changes in consumer behavior and preference for premium and craft beers
- Impact of regulatory policies and taxation on beer consumption
- Adoption of innovative marketing and distribution strategies by leading brands
- Potential influence of economic conditions on disposable income and spending patterns.
