In India, wine is now becoming more sought-after, accepted, and available. One of the most important factors driving the Indian wine market is the companies’ expansion to tier-II and tier-III cities. In a recent research, RNCOS found that Delhi, Mumbai, Goa, and Bengaluru are the largest wine consumers in the country. Realizing the high market potential existing in smaller cities, wines companies are making their presence felt in these areas. For the Indian wine industry, rising urbanization is a major growth driver.
According to “Indian Wine Industry Analysis”, around 70% of the country’s population resides in tier-II and tier-III cities, and wine companies aim at grabbing a bigger pie of the rapidly growing market. Increasing disposable incomes, changing lifestyles, attitudes and preferences of Indian consumers, particularly young men and women, and influence of media and western culture are the main promising factors for the Indian wine industry. Various state governments are encouraging wineries to support domestic wine producers, who were affected due to economic slowdown. With this, it is anticipated that the wine consumption volume in India will grow at a CAGR of around 25% during 2011-2014.
The report analyzes factors critical to the success of the wine industry in India. Identifying key players in the market, and including their business description and activities, the study also gives an insight in the emerging industry trends, new investments and expansion plans.
It highlights the past, current and future market performance of the Indian wine industry, and presents forecast, based on the correlation between past market growth and intensification of base drivers, such as middle class and urbanization. The study has tried to cover each aspect of the industry to present a balanced market outlook for the clear understanding of clients.
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