Changing Consumer taste and preferences for low alcoholic and Rising variation of beer product offerings will boost the Beer Market in India
Published Date | 2019 March 12
India is predominantly a hard spirits market. But the beer market holds a favorable outlook in India on the back of changing cultural attitudes and a young, increasingly affluent population. Attitudes towards alcohol are evolving, particularly among young urban-dwellers who are gaining an appetite for beer, as a drinking culture becomes more popular in major cities like Mumbai, Delhi, and Bangalore. India is one of the biggest manufacturers of Beer in the world. Demand for premium and craft beers is rapidly increasing.
The Indian beer industry has been witnessing steady growth of 9.90% annually over the last ten years. Beer is slowly becoming a perfect after-work companion for corporate India. With increasing economic development, the level of anxiety and stress has also been increased in the Indian corporate world, People are finding it hard to find work-life balance & are looking for some refreshments in the evening. Beer is observed to be slowly becoming a primary drink for them. The forthcoming maturation of the beer market combined with the growing middle class will positively open up for interesting export potentialities for breweries in India.
Furthermore, increasing disposable income, urbanization, growing youth population as well as rising acceptance of social drinking have buoyed the growth of the beer market in India. According to report by BlueWeave Consulting, “India Beer Market, by Category, by Packaging, by Distribution Channel, by Region, Growth Potential, Competitive Market Share and Forecast, 2015-2025” The India beer market is projected to grow with a significant growth rate during the forecast period 2018-2025.
Strong Beer category is projected to be the leading segment of the overall India Beer market during the forecast period.
Strong beer segment is projected to be the dominating segment of India beer market due to high alcohol content. Indian is primarily a strong beer consuming nation but consumers are slowly shifting towards mild beers. Mild beer is projected to be the fastest growing segment for India beer market owing to low alcoholic and product diversification. The mild beer has high growth potential in the market with first-time alcohol drinkers preferring to consume mild beer or craft beer to get the acquired taste of beer for frequent consumption. The growth in the urban population has led the consumers to adopt improved lifestyle and better living.
South India accounts for the largest share of the India beer market during the forecast period.
South India accounted for the largest market share of the India beer market. Majority of the states in the Southern region has either humid or summer season prevailing for most of the months which increased chill beer consumption in this region. Surging demand for beer owing to the rising disposable income and consumer’s preferences towards a healthy lifestyle has influenced the people to adopt low content alcohol drinks like beer. North India and Western India are expected to be the fastest growing markets. The regional beer market growth can be attributed to the growing young population and the increasing number of middle class and their rising disposable income.
India Beer Market Competitive Landscape
Companies such as United Breweries Limited, Carlsberg India Private Limited, Mohan Meakin Limited, AB InBev India Pvt. Ltd, Molson Coors India Private Limited, B9 beverages private limited, SOM Distilleries and Breweries Limited, and DeVANS Modern Breweries Limited are the key players of beer market in India.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of India beer market size & forecast. The report promises to provide state-of-the-art technology of beer and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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