Imported spirits sales may cross 5 mn cases
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The sales of imported spirits are expected to grow by about 60 per cent to 5 million cases by 2015 mainly due to rising income levels and increasing young population, a report said today.
The imported liquor or spirit market in India is estimated at about 280 lakh litres and about 3.1 million cases at present, Assocham said in the report.
Growth in the sector has also been fuelled by growing number of working women, increasing media penetration, expanding exposure to western lifestyle and spurt in tendency among Indian professionals to migrate from local brands to international ones, it said.
"The sales of imported spirits in India is likely to cross five million cases mark and reach about 550 lakh litres by 2015," it said.
The report also said with more Indians travelling abroad, their preference for imported liquor is rising, which is leading to growth in the business.
"Market for imported liquor has a huge scope for growth in India if the stiff regulatory environment and high import tariff are relaxed to some extent," it added.
The report said various multinational companies are likely to invest hugely in marketing and brand innovations in India.
It added that liquor consumption in India is growing at about 30 per cent annually and is likely to reach about 20,000 million litres by next three years from current level of about 7,000 million litres.
Besides, in terms of revenue, the alcoholic beverage market is currently estimated at about Rs 52,000 crore and is likely to reach about Rs 2 lakh crore in the next three years, it added.
Wine consumption in the country is also likely to reach around 14.7 million litres (in volume terms) by the end of 2012 from around 4.6 million litres in 2008, it said.
The wine market stood at Rs 800 crore and is likely to touch Rs 2,700 crore by the end of this year.
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