What are the key drivers of liquor industry in India?
Key drivers are the factors like Urbanization, Favourable Demographics, Change in Social Outlook towards Acceptability of Liquor, Rise in Disposable Income & Increased Alcohol Accessibility and Availability. Majority of the Indian population are in the age group of 20 to 50 years, who consist of existing and potential consumers of liquor. Over the decade, there has been sea of changes in these parameters, all leading to favourable incremental market volume of liquor.
As a result of the above, it could be experienced that India is one of the fastest growing liquor markets in the world, which being the 3rd largest in the world. In emerging countries, increasing demand of liquor is due to large young population size and rising disposable income. Spirits comprise of rum, whisky, vodka & gin is with a market share of about 36% and beer is about 13%. Balance 51% is comprise of country / cheap liquor: 48% and wine etc.: 3%.
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