INDIAN ALCOHOLIC-BEVERAGE MARKET: GROWING AT A FAST CLIP
- Credit Rating Agency in India
- Industry Report
- INDIAN ALCOHOLIC-BEVERAGE MARKET: GROWING AT A FAST CLIP
The Indian alcoholic industry has a high growth potential due to favourable demographics and increasing social acceptance. The Alcobev industry in India grew remarkably in recent years because of factors such as rapid urbanisation, evolving consumer priorities, a burgeoning middle-class population, greater purchasing power, and growing liking for premium alcoholic beverages.
Alcohol consumption has surged across geographies, as a growing number of consumers, both men and women, enter the target consumer class. The legal drinking age in India varies from 18 - 25 years, depending on the state, highlighting the enabling environment for the alcohol market’s robust growth.