India represents a huge potential for the wine industry in Asia. According to “Indian Wine Industry Analysis”, a new research report by RNCOS, red wines are quite popular among Indians. Over 50% of the country’s population is above 25 years of age, and forms a huge impending consumer base for the wine industry. With higher personal disposable income, and changing lifestyles and preferences, the wine consumption volume in India is expected to grow at a CAGR of around 25% during 2011-2014.
Research Analysis and Highlights
The report, spread over 80 pages, provides an exhaustive research and cogent analysis of the current status and expected position of the wine Industry in India. An insight into the country’s wine consumption, in terms of domestically produced and imported wines, and major wine consuming areas has been provided in the study, which also discusses wine production, imports & exports. Analyzing the regulatory environment, and recent developments, the research presents forecasts and a balanced outlook on the potentials of the industry.
Some of the key findings of the report are:
- The consumption of domestic wine in India to post double-digit growth during 2011-2014.
- Women creating demand for wine in India.
- Wine companies expanding to tier-II & III cities.
- High tariffs blocking road for imported wines.
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