Despite increasing awareness and consumption, the figures suggest there is a long way to go for Indian Gin Market: Actual Market Research
May, 18

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Despite increasing awareness and consumption, the figures suggest there is a long way to go for Indian Gin Market: Actual Market Research


Indian Gin market observed high growth rate with many favourable trends supporting it such as Increasing pub and bar culture, growing awareness about gin, increasing disposable income, changing demographics, increasing women consumption, increasing parties, etc._x000D_
According to report ?€?India Gin Market Overview, 2018-2023?€™ published by Actual Market Research, The Indian Gin market achieved growth with a CAGR of around 9 % between years 2011-12 to 2016-17. The period saw high growth in consumption of expensive imported foreign brands which has very high price compared to Indian brands. It suggests that Gin is becoming popular between rich and high-class people. The Indian Gin brands are generally divided into two segments i.e. economy gin brands and premium and luxury gin brands. The economy gin brands are those which are ranged below INR 599 rupees for a full bottle, while price for premium and luxury gin which consist of mostly imported brands like Bombay sapphire, Hendrick's Gin, Tanqueray London Dry Gin, etc begins with INR 1500 rupees and reaches more than INR 6000 rupees for single full bottel. The economy gin is observed to be consumed most, but the share of premium and luxury gin is also found to be increasing._x000D_
India has achieved some great economical development with a rapid growth rate in past few years, which has provided it citizens with increase in purchasing power as well as exposer to new products from around the world. The Indian consumer are becoming more aware of new products and are wisely spending their money in order to achieve better health and luxuries. The rising awareness of gin brands backed up by increasing purchasing power is one of the derivation from this development which has led to development of gin market in India. The development has also brought culture shifts from traditional Indian culture to wester culture up to some extent in India. Indians are now found of parties as well as enjoying their evenings in pubs and bars. while cocktails i becoming more popular in tire1 and tire 2 cites in India where Gin is by far more complex than vodka and its quality provides a greater cocktail experience.Also the increase of women education has made better employment opportunities for them and made them more independent. This independence has led to increasing consumption of alcoholic beverages between women. These factors have boosted the growth of Indian Gin market in past and are expected to boost the sales further._x000D_
Despite many such reason Gin has a contribution of less than 1% in Indian Alcoholic beverages market, so to achieve a higher share there is a long way ahead for stakeholders of Indian Gin market._x000D_
Major Companies_x000D_
Major companies that operate into the whiskey market in India Pernod Ricard India Private limited, United Spirit Limited (Diageo Group, Radico khaitan Limited, Jagatjit Industries Limited, John Distilleries Private Limited, Bacardi India Private Limited._x000D_
Report: India Gin Market overview,2018-2023_x000D_
Base Year: 2016-17, Estimated Year: 2017-18, Forecast Year: 2022-23_x000D_
Pages:39, Figures:18, Tables:6._x000D_