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India has emerged as one of the fastest growing markets for wine on the global map
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India has emerged as one of the fastest growing markets for wine on the global map. Despite the country’s vast population of over 1.1 Billion, the consumption of wine remains extremely low. The per capita consumption of wine in the country was estimated at around 9 Milliliters in 2008, indicating huge potential for growth in the coming years. Various factors such as favorable government policies, increasing disposable income, amplified wine marketing and influence of western culture are helping to drive India’s wine consumption. According to our latest research report, “Indian Wine Industry Forecast to 2012”, wine consumption in India is expected to grow by 25-30% annually between 2009 and 2012. We have found that various policies by the state level governments are encouraging domestic wine producers to set up their own wineries in the country, giving a boost to the domestic industry. Efforts by the Maharashtra and Karnataka governments remain far-fetched in this regard. However, such measures have raised concerns to WTO which states that India is adopting protectionist policies for its domestic wine industry meanwhile curbing growth of imports. While local players are including affordable imported wines in their portfolios to attract new consumers, foreign firms are trying hard to expand in the market owing to high rate of tax levied. Our research indicates that the premium wine segment in the country is dominated by imported wines. This is because domestic wines are still unable to demand a high price, largely because of low brand awareness and lack of quality taste. Meanwhile, total consumption is dominated by domestically-produced cheap wine. To know more and to buy a copy of your report feel free to visit : http://www.bharatbook.com/ Market-Research-Reports/ Indian-Wine-Industry-Forecast-to-2012.html Or Contact us at : Bharat Book Bureau Tel: +91 22 27578668 Fax: +91 22 27579131 Email: Website: http://www.bharatbook.com Blog: http://bharatbookresearch.blogspot.com Follow us on twitter: http://twitter.com/ 3bbharatbook User comments, Ratings and Reviews
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