PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1391810
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1391810
India Vodka and Gin Market, By Type (Vodka, Gin); By Distribution Channel (Offline, Online); By Region (North India, South India, East India, West India), Trend Analysis, Competitive Landscape & Forecast, 2019-2029
India Vodka and Gin Market Size Set to Expand at Significant CAGR of 9.34% Touching USD 2.5 Billion by 2029.
India vodka and gin market is flourishing because of the growing disposable income, increasing shift in the drinking culture and emergence of a cocktail culture.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India vodka and gin market size at USD 1,450.6 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the India vodka and gin market size to grow at a significant CAGR of 9.34% reaching a value of USD 2,478.06 million by 2029. Major growth drivers for the India vodka and gin market include an increasing young population and a rising level of disposable income. This growing segment, particularly in urban areas, exhibits a heightened interest in experimenting with the latest alcoholic beverages like vodka and gin. The cocktail culture is on the rise, with the emergence of cocktail bars and mixology trends contributing to the growing demand for vodka and gin as crucial base spirits for crafting an array of innovative cocktails. Leading vodka and gin brands are making substantial investments in marketing and branding, effectively increasing both brand awareness and consumer engagement. Also, there is a growing inclination towards premium and high-quality alcoholic beverages, as the economy improves, with consumers increasingly willing to pay more for vodka and gin brands offering unique flavor profiles. However, high taxes and complex regulations imposed by different Indian states are expected to hinder the growth of the vodka and gin market in the country. The alcoholic beverage industry in India faces a complex web of regulations and varying tax structures from one state to another, making it challenging for manufacturers and distributors to navigate the market efficiently. Also, cultural and religious factors play a significant role in shaping consumer preferences and consumption patterns. These factors can influence the demand for alcoholic beverages, especially in certain regions with conservative cultural norms and restrictions on alcohol. Hence, these barriers may pose challenges to the market's growth prospects during the period in analysis.
India Vodka and Gin Market - Overview
The India vodka and gin market represents the sector in India dedicated to the production, distribution, and consumption of vodka and gin alcoholic beverages. This market encompasses the manufacturing and promotion of various vodka and gin brands, including both domestic and international products, and their sale through diverse channels, such as liquor stores, bars, restaurants, and online platforms. Its dynamics are shaped by factors like evolving demographics, shifting consumer preferences, the rise of cocktail culture, marketing strategies, and the increasing demand for premium and high-quality alcoholic beverages. India, celebrated for its diverse culture and rich heritage, has undergone a remarkable shift in its alcohol industry, traditionally favoring spirits like whiskey and rum. However, there has been a noticeable surge in the popularity of vodka and gin, indicating changing consumer preferences and the evolution of a dynamic drinking culture.
Impact of COVID-19 on India Vodka and Gin Market
COVID-19 pandemic had a mixed impact on the India vodka and gin market. Lockdowns and restrictions on bars and restaurants led to a sharp decline in on-premises consumption. However, off-premises sales, particularly through e-commerce, witnessed growth as consumers shifted to home consumption. The economic uncertainties caused by the pandemic affected consumer spending, impacting the demand for premium vodka and gin. Brands adapted by promoting at-home mixology, innovative packaging, and cost-effective options. Overall, the market faced challenges but also saw opportunities in the changing consumer behavior and the rise of online sales, ultimately reshaping the landscape of the vodka and gin industry in India.
India Vodka and Gin Market - By Type
By type, the India vodka and gin market is bifurcated into Vodka and Gin segments. The vodka segment holds a higher share in the India vodka and gin market by type. Vodka is a versatile spirit that can be consumed in various ways and easily mixed into cocktails, making it a popular choice for a wide range of consumers. Additionally, it is often perceived as a smoother and more neutral spirit, appealing to a broader audience. Furthermore, the vodka segment has witnessed significant innovation with the introduction of flavored and premium vodka options, attracting consumers who seek unique and high-quality experiences. These factors collectively contribute to vodka's dominance in the Indian market over gin. Also, vodka segment is subdivided into flavored and non-flavored. The flavored subsegment dominates the market. Flavored vodka offerings provide a wide range of taste profiles, making them attractive to a diverse consumer base with varying preferences. Their adaptability for use in cocktails and mixology further enhances their popularity. Flavored vodkas tend to resonate with a younger demographic and those seeking unique and innovative drinking experiences. As a result, the flavored vodka subsegment has captured a significant market share, capitalizing on the evolving consumer preferences, particularly in urban areas.
Competitive Landscape
Major players operating in the India vodka and gin market include: Bombay Spirits Company LTD, Diageo India, Nao Spirits & Beverages Pvt Ltd, Radico Khaitan Limited, Bacardi Limited, Som Group of Companies, Amber Distilleries Limited, Kaya Spirits, India Glycols Limited, and Terai India Dry Gin. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of India Vodka and Gin Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in India Vodka and Gin Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. India Vodka and Gin Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Rising disposable income
- 3.2.1.2. Changing drinking culture
- 3.2.2. Restraints
- 3.2.2.1. High taxes and complex regulations imposed by different states.
- 3.2.2.2. Cultural and religious factors
- 3.2.3. Opportunity
- 3.2.3.1. Increase in urbanization
- 3.2.3.2. Influence of western lifestyle
- 3.2.4. Challenges
- 3.2.4.1. Competition from other spirits
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. India Vodka and Gin Market Overview
- 4.1. Market Size & Forecast, 2019-2029
- 4.1.1. By Value (USD Million)
- 4.2. Market Share & Forecast
- 4.2.1. By Type
- 4.2.1.1. Vodka
- 4.2.1.1.1. Flavored
- 4.2.1.1.2. Non-flavored
- 4.2.1.2. Gin
- 4.2.2. By Distribution Channel
- 4.2.2.1. Offline
- 4.2.2.2. Online
- 4.2.3. By Region
- 4.2.3.1. North India
- 4.2.3.2. South India
- 4.2.3.3. East India
- 4.2.3.4. West India
- 4.2.1. By Type
5. North India Vodka and Gin Market
- 5.1. Market Size & Forecast, 2019-2029
- 5.1.1. By Value (USD Million)
- 5.2. Market Share & Forecast
- 5.2.1. By Type
- 5.2.2. By Distribution Channel
6. South India Vodka and Gin Market
- 6.1. Market Size & Forecast, 2019-2029
- 6.1.1. By Value (USD Million)
- 6.2. Market Share & Forecast
- 6.2.1. By Type
- 6.2.2. By Distribution Channel
7. East India Vodka and Gin Market
- 7.1. Market Size & Forecast, 2019-2029
- 7.1.1. By Value (USD Million)
- 7.2. Market Share & Forecast
- 7.2.1. By Type
- 7.2.2. By Distribution Channel
8. West India Vodka and Gin Market
- 8.1. Market Size & Forecast, 2019-2029
- 8.1.1. By Value (USD Million)
- 8.2. Market Share & Forecast
- 8.2.1. By Type
- 8.2.2. By Distribution Channel
9. Competitive Landscape
- 9.1. List of Key Players and Their Offerings
- 9.2. India Vodka and Gin Company Market Share Analysis, 2022
- 9.3. Competitive Benchmarking, By Operating Parameters
- 9.4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
10. Impact of Covid-19 on India Vodka and Gin Market
11. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
- 11.1. Bombay Spirits Company LTD
- 11.2. Diageo India
- 11.3. Nao Spirits & Beverages Pvt Ltd
- 11.4. Radico khaitan Limited
- 11.5. Bacardi Limited
- 11.6. Som Group of Companies
- 11.7. Amber Distilleries Limited
- 11.8. Kaya Spirits
- 11.9. India Glycols Limited
- 11.10. Terai India Dry Gin
- 11.11. Other Prominent Players
12. Key Strategic Recommendations
13. Research Methodology
- 13.1. Qualitative Research
- 13.1.1. Primary & Secondary Research
- 13.2. Quantitative Research
- 13.3. Market Breakdown & Data Triangulation
- 13.3.1. Secondary Research
- 13.3.2. Primary Research
- 13.4. Breakdown of Primary Research Respondents, By Region
- 13.5. Assumptions & Limitations
*Financial information of case of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
- Figure 1 India Vodka and Gin Segmentation
- Figure 2 India Vodka and Gin Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2022
- Figure 4 India Vodka and Gin Market Size, By Value (USD Million), 2019-2029
- Figure 5 India Vodka and Gin Market Share, By Type, By Value, 2019-2029
- Figure 6 India Vodka and Gin Market Share, By Distribution Channel, By Value, 2019-2029
- Figure 7 North India Vodka and Gin Market Size, By Value (USD Million), 2019-2029
- Figure 8 North India Vodka and Gin Market Share, By Type, By Value, 2019-2029
- Figure 9 North India Vodka and Gin Market Share, By Distribution Channel, By Value, 2019-2029
- Figure 10 South India Vodka and Gin Market Size, By Value (USD Million), 2019-2029
- Figure 11 South India Vodka and Gin Market Share, By Type, By Value, 2019-2029
- Figure 12 South India Vodka and Gin Market Share, By Distribution Channel, By Value, 2019-2029
- Figure 13 East India Vodka and Gin Market Size, By Value (USD Million), 2019-2029
- Figure 14 East India Vodka and Gin Market Share, By Type, By Value, 2019-2029
- Figure 15 East India Vodka and Gin Market Share, By Distribution Channel, By Value, 2019-2029
- Figure 16 West India Vodka and Gin Market Size, By Value (USD Million), 2019-2029
- Figure 17 West India Vodka and Gin Market Share, By Type, By Value, 2019-2029
- Figure 18 West India Vodka and Gin Market Share, By Distribution Channel, By Value, 2019-2029
List of Tables
- Table 1 India Vodka and Gin Market Size, By Value (USD Million), 2019-2029
- Table 2 India Vodka and Gin Market Size, By Type, By Value, 2019-2029
- Table 3 India Vodka and Gin Market Size, By Distribution Channel, By Value, 2019-2029
- Table 4 India Vodka and Gin Market Size, By Distribution Channel, By Value, 2019-2029
- Table 5 North India Vodka and Gin Market Size, By Value (USD Million), 2019-2029
- Table 6 North India Vodka and Gin Market Size, By Type, By Value, 2019-2029
- Table 7 North India Vodka and Gin Market Size, By Distribution Channel, By Value, 2019-2029
- Table 8 South India Vodka and Gin Market Size, By Value (USD Million), 2019-2029
- Table 9 South India Vodka and Gin Market Size, By Type, By Value, 2019-2029
- Table 10 South India Vodka and Gin Market Size, By Distribution Channel, By Value, 2019-2029
- Table 11 East India Vodka and Gin Market Size, By Value (USD Million), 2019-2029
- Table 12 East India Vodka and Gin Market Size, By Type, By Value, 2019-2029
- Table 13 East India Vodka and Gin Market Size, By Distribution Channel, By Value, 2019-2029
- Table 14 West India Vodka and Gin Market Size, By Value (USD Million), 2019-2029
- Table 15 West India Vodka and Gin Market Size, By Type, By Value, 2019-2029
- Table 16 West India Vodka and Gin Market Size, By Distribution Channel, By Value, 2019-2029
- Table 17 Bombay Spirits Company LTD Company Overview
- Table 18 Bombay Spirits Company LTD Financial Overview
- Table 19 Diageo India Company Overview
- Table 20 Diageo India Financial Overview
- Table 21 Nao Spirits & Beverages Pvt Ltd Company Overview
- Table 22 Nao Spirits & Beverages Pvt Ltd Financial Overview
- Table 23 Radico khaitan Limited Company Overview
- Table 24 Radico khaitan Limited Financial Overview
- Table 25 Bacardi Limited Company Overview
- Table 26 Bacardi Limited Financial Overview
- Table 27 Som Group of Companies Company Overview
- Table 28 Som Group of Companies Financial Overview
- Table 29 Amber Distilleries Limited Company Overview
- Table 30 Amber Distilleries Limited Financial Overview
- Table 31 Kaya Spirits Company Overview
- Table 32 Kaya Spirits Financial Overview
- Table 33 India Glycols Limited Company Overview
- Table 34 India Glycols Limited Financial Overview
- Table 35 Terai India Dry Gin Company Overview
- Table 36 Terai India Dry Gin Financial Overview
