India Wine Market Analysis, Size, Share, Demand and Opportunity 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "India Wine Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the India wine market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the Indian wine market?

The India wine market size reached US$ 164.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 477.9 Million by 2028, exhibiting a growth rate (CAGR) of 18.9% during 2023-2028.

What is wine?

Wine refers to an alcoholic beverage that is produced by fermenting the juice of grapes. It comprises grapes, yeast, sugar, oak chips or barrels, and sulfur dioxide. It offers improved cognitive function, such as thinking and memory skills, and prevents damage to the brain cells of individuals. It assists in lowering the risk of heart disease and increasing levels of good cholesterol (HDL) while reducing the formation of blood clots. As it also aids in reducing the risk of type 2 diabetes by improving insulin sensitivity and glucose metabolism, the demand for wine is rising in India.

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What are the growth prospects and trends in the India wine industry?

At present, the increasing demand for wine due to the rising consumption of wine at social events, such as weddings, corporate functions, and gatherings, represents one of the primary factors propelling the market growth in India. Besides this, the growing consumer preferences towards smooth, unique, and innovative flavors in wine is offering a positive market outlook in the country. Apart from this, the rising demand for premium wine brands among consumers is contributing to the market growth. Moreover, the wide availability of wine through various distribution channels, such as online and offline stores, is bolstering the growth of the market in India. Furthermore, the rising popularity of wine due to the increasing number of hotels, restaurants, and cafes in India is strengthening the growth of the market.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Product Type:

Still Wine
Sparkling Wine
Fortified Wine and Vermouth

Breakup by Color:

Red Wine
Rose Wine
White Wine

Breakup by Distribution Channel:

Off-Trade
Supermarkets and Hypermarkets
Specialty Stores
Online Stores
Others
On-Trade

Breakup by Region:

North India
West and Central India
South India
East India

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This release was published on openPR.