This Future Market Insights (FMI) study offers a 10-year forecast of the India gin market between 2015 and 2025. The market is expected to expand at a CAGR of 5.0% in terms of value during the projected period. The study demonstrates the market dynamics and trends across four regions (North, East, West and South), which are expected to influence the current nature and future status of the gin market over the forecast period.
The popularity of gin consumption in India has inclined due to the immense opportunities the country offers due to rising urban population along with changing demographics.
Change in outlook towards social consumption of alcohol and inclining consumption of alcohol among women has resulted in increasing demand for alcohol beverages in India. Escalation in disposable income has transformed consumers’ buying and spending trend majorly in urban areas.
The consumption of gin amongst the youth population across the country along with the change in spending pattern has provided a robust stimulus for growth of the gin market in India both in terms of volume and value. In addition, growing prominence of bar and cocktail culture in urban cities and the advent of novel food and beverage culture is anticipated to catalyse growth of the India gin market over the forecast period.