OVERVIEW OF INDIAN MARKET
Over 30 % of India’s population lives in the urban regions (Tier 1 cities & other urban areas). As modern India’s metro narrative is being shaped by a young well educated and well-travelled populace of achievers, there is a growing demand for the finest in dining, wining & living. To cater to this discerning group, the metros have seen a steady growth of fine dining places, restaurants, pubs and a more recent phenomenon, the brewpubs as well as alcohol consumption.
Urban lifestyles and rising disposable incomes are playing a major role in shaping alcohol consumption patterns, while also encouraging premiumisation in major cities. Alco-Bev industry in India is expected to record further growth, largely due to India’s huge untapped market for local and global manufacturers. Social drinking in the country is becoming increasingly acceptable, with this supporting a widening of the product range. Additionally, an increase in sales of premium lager and spirits is expected to boost retail value growth, along with a significant rise in the consumption of wine in the country.
Considered to be a sunrise industry, the alcoholic beverages sector has been showing signs of growth, indicating that this is an industry that’s on the upward swing. Part of the growth can be attributed to the evolution of the changing Indian consumer.
Many brewpubs have followed after the appearance of the first brewpub in Pune in 2009; in cities like Pune, Mumbai, Gurgaon, Bangalore and Kolkata. Also, the number of commercial breweries, microbreweries and craft breweries are increasing steadily by around 7.5 % a year in all the major cities. Not wanting to be left behind in offering a more customized experience, 5 star hotels and restaurants are also upgrading their facilities to cater to this demand along with a custom menu of delectable food. According to AMRG & Associates Chartered Accountants firm based out of India, the alcoholic beverages market in India is expected to grow at a CAGR of around 7.72% over a 10 year period to reach a value of 5.3 trillion rupees by the year 2026. In such an industrial scenario, Craft Drinks India intends to be the definitive trade fair that addresses the needs of this booming industry.