The overall liquor consumption in India is growing at a compound annual growth rate (CAGR) of about 30 per cent and is likely to reach 20,000 million litre in the next three years, from the current level of 7,000 million litre. This is revealed in a study titled ‘India’s emerging imported spirits market,’ released by the Associated Chambers of Commerce and Industry of India (Assocham).
Besides, in terms of revenue, the alcoholic beverage market is currently estimated at about Rs 52,000 crore and is likely to reach Rs 2 lakh crore during the course of the next three years.
Also, wine consumption in India is likely to reach around 14.7 million litre (in volume terms) by the end of 2012 from 4.6 million litres in 2008, registering a growth of 35 per cent, the study said. According to the study, the Indian wine market stood at Rs. 800 crore in 2008 and is likely to touch Rs. 2700 crore by the end of this year.
More: Business Standard