India’s wine and liquor market is expected to expand significantly in 2023, as the country’s appetite for alcoholic beverages continues to grow. India is the third-largest consumer of alcoholic beverages in the world, and the demand for wines and liquor is expected to continue to increase in the coming years.
The market for wines and liquor in India has been growing steadily since the beginning of 2020. This is due to a growing number of consumers looking for a wider variety of alcoholic beverages. Wine consumption in India is currently estimated to be around 3.2 million cases per annum, and this is expected to grow to 4.3 million cases by 2023.
The demand for liquors has also been increasing exponentially in India.
The country is the largest consumer of whisky in the world, and it is estimated that around 8.5 million cases of whisky were consumed in India in 2020. This is expected to grow to 10 million cases by 2023.
The growth of the wine and liquor market in India is being driven by a number of factors. The rise in disposable incomes of the middle-class population is leading to an increase in the number of people who can afford to buy alcohol. Additionally, the growing trend of consuming alcohol in social gatherings is also driving the demand for wines and liquor in the country.
The government of India is also playing a role in the expansion of the wine and liquor market. The government has been promoting the sale of alcohol in the country by allowing more foreign direct investment in the sector. Additionally, the government has also reduced the taxes and duties on alcoholic beverages, which has made them more affordable.
India’s wine and liquor market is expected to grow significantly in the coming years. With the rising demand for alcoholic beverages in the country, manufacturers are increasingly investing in the sector. This is expected to result in a wider variety of alcoholic beverages available in the market, which will further drive the market’s growth.
The wines and liquor market in India is set to expand in 2023 as consumers look for a wider variety of alcoholic beverages.
With the government promoting the sale of alcohol, manufacturers investing in the sector, and the rising disposable incomes of the middle-class population, the market is expected to experience significant growth in the coming years.
