In 2023, the import of vermouth and other flavoured grape wine to India stood at an actual value below the forecasted 84.19 thousand US Dollars for 2024. The forecast indicates a gradual decline, with imports decreasing 5.12% year-on-year to 79.88 thousand US Dollars in 2025. This downtrend continues at an average annual rate, or CAGR, of approximately 5.39% from 2024 to 2028, reaching 67.43 thousand US Dollars by 2028.
Future trends to watch for include:
- Potential changes in consumer preferences as awareness and demand for indigenous products grow.
- The impact of India’s trade policies and import tariffs on flavored wine imports.
- Evolving competitive dynamics in the global grape wine market that may influence pricing and import volumes.
