💡 A Deep Dive into India's ~$56 Billion Alcohol Beverage Industry
ReadOn Insights July Report: India's Alcohol Beverage Industry. Read on!
ReadOn Insights is our latest initiative to make quality industry insights available to all business owners, employees, professionals and investors and enable them to think sharper, deeper, smarter.
In the twelfth edition, we look at the ~$56 billion alcohol beverage industry in India.
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👉 India's alcohol beverage industry is growing at a 7.2% CAGR, much higher than the global 2.4% CAGR.
👉 Rapid urbanisation, a young population and growing middle class are driving growth for the industry. After Covid, at-home consumption has outpaced consumption at cafes, restaurants and bars!
👉 Arunachal Pradesh, Telangana and Jharkhand have the highest alcohol consumption while Gujarat and Rajasthan are among low consumers.
👉 The industry contributes to 2% of our nominal GDP and makes up ~8% of the government's total tax revenue.
With established brands like United Breweries and Bira91 and new age brands stirring innovation, the future of this industry looks very exciting! Read on 👇🏻
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