India Wine Market Synopsis
India Wine Market is estimated to gain traction over the years with the growing various growth aspects such as increasing income level, changing consumer lifestyle & preferences, and growing online sales platforms.
According to 6Wresearch, the India Wine Market size is estimated to register a sound growth during the forecast period 2023-2029. Many growth factors have been contributing to the market growth, one of them is health consciousness, with a growing emphasize on health, some consumers consider wine as a healthier alcoholic beverage owing to its antioxidant properties. Additionally, wines availability is being expanding in the country through the expansion of alcoholic beverages retail outlets, restaurants, and bars, opening greater growth corridors to the India Wine industry. Consumers preferences has been changing over the time, there is an increasing will to taste innovative ranges of alcoholic beverages. This is creating an opportunity for the manufacturers to prepare innovative flavour infused wines to cater customer needs. In addition to this, consumers are willing to spend high on premium alcoholic beverages come with innovative flavours to experience the top-notch quality and taste of the wines.
Trends and Opportunities in the India Wine Market
Wine market growth in India is influenced by several ongoing trends and opportunities such as India has started increasing the domestic wine production capacity to fulfil the consumers’ needs domestically. Indian wines are becoming popular in international markets also, leading to creating an opportunity for the growth of wine industry in India. Online wines retailing is increasing, which makes easier for consumers to access a comprehensive range of wines and have them delivered to their doorstep. Offering customized & personalized wine experiences, like wine-tasting events that can be appealing to those consumers who look for unique infused flavoured wines is one of the trends estimated to surge the product purchase and augment the market growth significantly in the upcoming years. Also, the rising wine popularity consumption among the youngsters is one of the trends driving the wines demand and simultaneously wine market growth.
COVID-19 influence on the India Wine Market
The COVID-19 had affected the market adversely, as with the strict and complete lockdown in the country, all the alcoholic beverages retail outlets, restaurants, and bars were closed simultaneously an increased health concern among the population had resulted in decreased wine consumption. In addition to this, disruption in the product supply due to travel restrictions caused during pandemic led to a decrease in the product availability, leading to a major decline in the market shares.
Key Players of the India Wine Market
Here are numerous leading players are operating in the market, who are offering top notch quality and innovative flavored wines to fulfill their customers requirements. Some of the well renowned players are mentioned below in the list:
- Sula Vineyards
- Four Seasons Wines
- Grover Zampa Vineyards
- York Winery
- Fratelli Wines
Key attractiveness of the report
- COVID-19 Impact on the Market.
- Key Performance Indicators Impacting the Market.
- 10 Years Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022.
- Major Upcoming Developments and Projects.
- Forecast Data until 2029.
Key Highlights of the Report:
- India Wine Market Outlook
- Historical Data and Forecast of India Wine Market Revenues & Volume By Sparkling Wine for the Period 2019 - 2029
- Market Size of India Wine Market, 2022
- Forecast of India Wine Market, 2029
- Historical Data and Forecast of India Wine Revenues & Volume for the Period 2019 - 2029
- Historical Data and Forecast of India Wine Market Revenues & Volume By Dessert Wine for the Period 2019 - 2029
- India Wine Industry Life Cycle
- India Wine Market Trend Evolution
- Historical Data and Forecast of India Wine Market Revenues & Volume By Still Wine for the Period 2019 - 2029
- India Wine Price Trends
- India Wine Porter's Five Forces
- India Wine Market Drivers and Challenges
- Historical Data and Forecast of India Wine Market Revenues & Volume By Product Types for the Period 2019 - 2029
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