back to top
Saturday, May 25, 2024
34 C
Lucknow

It Is Expected That Total Vodka & Gin Consumption Will Reach 17.66 Million Cases & 4.43 Million Cases By The End Of The Forecast Period

Date:

Share:

Vodka is a clean, tasteless, distilled alcoholic beverage that is made from grains or vegetables and comprises primarily water and ethanol. It is one of those spirits in which the delicate flavour of the base ingredient used to manufacture it may or may not be tasted in the final product. The beverage is sold almost unaged and can be consumed straight, mixed, or served chilled with ice. There are a number of health benefits associated with vodka as long as it is consumed in moderation. Vodka can relieve stress and help boost blood flow and circulation in the body.

This helps prevent clots, strokes, and other heart diseases. Furthermore, drinking vodka may also help lower cholesterol levels. Since it’s a low-calorie beverage, it keeps the fitness levels in check. Mixing vodka with water and using this mix as a rinse after washing hair can help eliminate product buildup on the scalp. This combination also helps boost hair growth and gives a natural shine. Furthermore, if it is mixed with different ingredients like rosemary, honey, and conditioner, it can reduce frizz, dandruff, and hair loss. It boasts disinfectant properties, and if diluted in equal parts with water, it can help clean pores. Some research also suggests using vodka to tighten skin, detoxify it and prevent breakouts. Vodka has the potential to serve as an analgesic; a post-meal rinse of bad breath can be treated with a shot of vodka and can induce sleep.

According to the research report published by Bonafide Research, “India Vodka & Gin Market Outlook, 2027″, the Indian Vodka market observed a growth of 12.24% during 2016–2021 and the Indian Gin market grew at a CAGR of 9.17%. Vodka and gin are the least consumed alcoholic beverages in India. The market for these spirits has been growing slowly with the rise of the best vodka and gin brands in India. By the end of the forecast period, it is expected that total vodka and gin consumption will reach 17.66 million cases and 4.43 million cases, respectively. The big players in the liquor market are optimistic about bringing in luxury vodka and gin to the country. With an increase in the disposable income of Indian consumers, the increasing number of bars in the country, and the rising party culture, the Indian vodka and gin market is expected to grow. The economical gin in the price range of INR 200 to INR 599 is the most savoured gin by Indians as the majority of them prefer to spend less on liquor. People living in urban areas consume more vodka and gin than their rural counterparts, as these are still perceived as luxury alcohol drinks.

Gin, traditionally a conventional drink, is perceived as an old man’s drink or a lady’s choice. However, because of its versatility, western culture has recently influenced the younger demographic to a new found love.Gin is a distilled alcoholic drink that derives its predominant flavour from juniper berries. Gin adoption by popular mixologists, pop culture driven by popular web series, and celebrity endorsements have all contributed to the segment’s visibility and credibility, ushering in an era of Gin renaissance.A team of five men co-founded an entity, World of Brands (WoB), and recently launched an all-new gin brand, “Great Indian Gin” (GIG), under the customization guidance of master blender N.J. Menon, who concocted it for the Indian palate.

It’s not just entrepreneurs favouring gin who are turning to Goa as their first-choice destination. Today, this region is home to a widening portfolio of craft beer, vodka, whiskey, agave spirits, and more. Nao Spirits, India’s first craft gin producer, was founded in 2015. The company’s two brands, Greater Than and Hapusa, have marked their presence now. Then came Stranger & Sons gin in 2018 from Goa-based Third Eye Distillery and Matinee Gin in March 2021. These are just three of the dozen small gin brands that have launched recently.

The flavoured vodka segment has become something to talk about. The market growth in the flavoured vodka segment has been explosive. With the introduction of the best-flavored vodka, vodka sales have achieved new heights in India. The introduction of flavoured vodkas has led to the expansion of the vodka market in India. More of the younger generation are now drinking and preferring the beverage because of the best-flavored vodka variants. Demographically, India is one of the youngest, with around 50% of the population below the age of 25 and about 65% of the population below the age of 35. Flavored vodka variants have become a preferred drink not just for men, but for women too. Rising demand for high-end vodka:While Indian consumers still prefer relatively cheaper and inexpensive whiskey and rum, when it comes to white spirits, labels matter as much as taste. Big companies are looking at launching their luxury brands and bringing the best vodka brands to India at a reasonable price. The target audience for the best vodka drinks is people who are aware of international brands and are looking for superior quality and value for money. The Indian market is currently seeing a transition from price-oriented purchases to a more quality-oriented experience. However, value growth is expected with luxury brands that use high-quality ingredients and the best distilling technologies in the world to make the best vodka drinks.

The drive towards the premiummization of Indian spirits, and especially the best vodka and gin drinks, is another important feature of the growing Indian spirits market. The market has seen the rise of designer vodkas that are amongst the best vodka brands in India, with price and premium experience as the two major determinants. It is expected that the future growth in the best vodka brands in India with price in the liquor industry will be mirrored by continued consumer trends towards premiummization, which is motivated by the rising affluence and aspirations, urbanization, globalisation, and progressive lifestyles. With more and more Indians travelling abroad and a favourable environment for imported liquor with higher disposable income, Indian consumers of vodka are upgrading towards premium segments in the country and enjoying premium drinking experiences with the best vodka brands in India at a reasonable price.

Although perceived to be a recession-free industry, Covid-19 proved that the alcoholic industry too could be brought to its knees. When the country announced lockdowns, long queues were seen outside liquor shops across the country. In cities like Mumbai, a COVID-19 hotspot, booze-loving people made a mockery of social distancing rules, prompting the government to shut the shops again. During peak lockdown months, while the central government permitted the opening of shops to sell essentials, it denied the sale of alcoholic beverages, which led some states to allow online delivery of alcohol. Lack of liquor taxes has left near-bankrupt states groaning under lockdown with little money to spend. However, demographics in India and various factors prove that the industry could bounce back provided that legislative interference is kept to a minimum.

Companies present in the market: Radico khaitan Limited, United Spirits Limited (A Diageo Company), Pernod Ricard India Private Limited, Bacardi Limited, Allied Blenders and Distillers Private Limited, Jagatjit Industries Limited, John Distilleries Private Limited.

The above news was originally posted on www.digitaljournal.com

Aabkari Times Editorial Teamhttps://aabkaritimes.com
Aabkari Times is a monthly news magazine on Liquor, Excise and Alcohol allied industry; being published since 2009 by the expertise of retired excise dept. associates and alco-bev industry professionals as our editorial team. Our magazine contains different new alco-bev strategic and new brand launch articles as well as news on recent govt. policies, trends on alcohol industry and other important data relevant to the distilleries and industry at the mass.

Subscribe to our magazine

━ more like this

Oil Marketing Companies Seek Bids for Ethanol Supply in ESY 2023-24

In ESY 2023-24, Oil Marketing Companies (OMCs) are seeking bids for the supply of approximately 66 crore litres of Denatured Anhydrous Ethanol. Bidders are...

Haryana’s New Excise Policy to Raise Liquor Prices, Introduce Tracking System

The Haryana government has given the green light to a comprehensive excise policy for the fiscal year 2024-25, slated to take effect from June...

Radico Khaitan Unveils Last Three Bottles of Rampur Signature Reserve at Hyderabad Airport Duty-Free

Radico Khaitan proudly marks its entry into Hyderabad Airport Duty-Free, unveiling the last three bottles of the globally acclaimed Rampur Signature Reserve Indian Single...

Karnataka Government Elevates Liquor Retail with Premium Boutique in Bengaluru

The Karnataka government has inaugurated a high-end liquor boutique in Bengaluru, located at Basaveshwara Nagar, marking a significant step in enhancing the state's retail...

New Year Cheers : A State-by-State Look at India’s New Year Liquor Surge

As the revelry of New Year's Eve subsides, India witnesses a notable surge in liquor sales, indicating a vibrant start to the year. Here's...
spot_img