Noida, India (PressExposure) October 23, 2009 -- According to our latest research report, "Indian Wine Industry Forecast to 2012", wine consumption in India is set to grow at a CAGR of around 28% during 2009-2012 owing to low current per capita wine consumption in the country.
Volume consumption indicates that per capita wine consumption in the country hovers at around 9 Milliliters only, considering a population base of over 1.1 Billion in 2008. However, an inter country comparison shows that per capita wine consumption in other countries such as France and Italy ranged between 50 and 60 Liters while in the US, it is estimated at around 10 Liters. Thus, the low wine consumption makes India a highly lucrative market for wine sales in coming years.
It has been found that the current wine consumption is mainly concentrated in cities like Delhi, Mumbai, Goa and Bangalore. "Considering the future market potential, companies should look to expand their customer base by targeting tier I or tier II cities, which will serve as the next growth area in the country", says an Analyst at RNCOS.
Future growth in wine consumption will also be driven by changing consumer lifestyle, taste and preferences, and rising disposable incomes. The growth will also thrive on the increasing availability of wide range of wines, including both domestically produced or foreign brands, opening up of wine clubs, and the perceived social and health benefits of wine.
"Indian Wine Industry Forecast to 2012" contains an extensive research and rational analysis of the wine market in India. Our research gives deep insight into the wine consumption in terms of domestic or imported wines, price structure, sales by location, types of wine consumed and a possible regional segmentation. It also highlights the market trends and developments responsible for the growth of Indian wine market over the forecast period. Besides this, the report provides comprehensive information of other critical wine industry segments such as wine production, wine exports and wine imports.
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