The beer market in India has seen notable fluctuations over the past decade. From a volume of 550.0 thousand metric tons in 2014, the market decreased to 533.0 in 2016 but rebounded sharply in 2017 with a significant increase, reaching 683.0. The market experienced some volatility, including a notable drop in 2020 due to external factors but picked up again, standing at 684.0 thousand metric tons in 2023, marking a modest increase of 1.18% year-on-year.
Analyzing the last five years shows a compound annual growth rate (CAGR) of 1.34%, reflecting a steady yet slow growth trajectory. Nonetheless, the forecast for the next five years predicts a continued but slower growth rate with a forecasted CAGR of 0.93% and an overall anticipated growth rate of 4.74% by 2028.
Future trends to watch for:
- Consumer preferences shifting towards premium and craft beers.
- Impact of regulatory changes and taxation on beer pricing and consumption.
- Potential for increased market penetration in rural and semi-urban areas.
- Influence of health and wellness trends on beer consumption patterns.
