Indian Wine market witnesses tremendous growth

Aug. 9, 2008 - PRLog -- Changing habits of Indians in drinking have, among other things, changed fortunes of the wine industry in India. Both the Indian wine market and the indigenous wine industry are witnessing tremendous growth. Favorable and promotional government policies, higher disposable incomes and growth in foreign tourists are some of the reasons for such growth. Present consumption of wine in India is very low with the average per capita consumption at 4.6 ml. However, considering that about a decade earlier markets for wines did not exist at all, developments are positive. Wine market in India has been growing at around 30% annually over the last ten years.

Currently, the Indian wine industry is dominated by three large players who together enjoy over 90% of the total market share, although there is enough room for more players. To cater to this growing demand, some Indian wine makers have started importing foreign made wines and bottling and selling it here. Challenges for the industry include competing against global connoisseurs of wine in the Europe, improving the quality of wines in India, sustaining high growth rates and increasing consumption of wine in India.

Despite challenges, Indian wineries are promoting their produce across the globe by participating in global events. Positive outlook of the government towards this sector has tremendously helped to power growth in this sector. For instance, several Indian states, including Maharashtra, the largest producer of Wine in India, have started to provide duty exemptions that will boost wine consumption. In recent times, Maharashtra has also commissioned sanctioning of wine bars in order to promote domestic consumption of wine. Going forward, the industry is likely to witness entry of many local and foreign players which will help widen markets further.

Bharatbook.com has included a new report titled “Wine Market Outlook in India” which covers a brief overview of the Wine Industry in India. It focuses in detail about the dynamics of the Industry, the market size and growth rate, the segmentation of wine by price and consumers. The report also covers the market landscape covering the major wine grape growing regions in India and the key importers of wine.

On the competitive landscape, the report lays out the major market players within the Indian wine industry and the strategies these companies are following to capture the major chunk of the market share. This will be followed by the industry regulations covering the tax and duty structure along with the initiatives taken by the Indian government to promote the industry. The concluding part of the report covers the future outlook of the industry. It focuses on the wine parks that are coming up in India promoting the wine tourism.

For further information kindly visit
http://www.bharatbook.com/detail.asp?id=81430

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