Gin's market expansion in India is mostly being driven by the country's growing urban population. India had a 34.5% urban population in 2019 according to the World Data Atlas. India's urban population grew at an average yearly rate of 1.14% from 19.8% in 1970 to 34.5% in 2019. Therefore, it is anticipated that throughout the course of the forecast period, the expansion of the India gin market would be aided by a burgeoning urban population and an increase in the acceptance of western culture. Gin's market in India is expected to develop as a result of shifting demographics in the country. The legal drinking age in India varies from state to state, according Coherent Market Insights. For instance, the minimum age for marriage in Goa, Uttar Pradesh, and Karnataka is 18, whereas in Tamil Nadu and Andhra Pradesh it is 21, and in Maharashtra, Delhi, and Punjab it is 25. According to this figure, India is the best nation for the fast expansion of the gin market. Over the forecast period, a strong distribution network among top Indian-made foreign liquor manufacturers is anticipated to promote market expansion.
Coherent Market Insights projects that by the end of 2027, it is anticipated that the Indian gin market will have generated around US$ 413.7 million in revenue, expanding at a CAGR of 5%.
Key Competitors in the India Gin Industry:
1. United Spirits Limited
The company was started in 1826 and is based in Bangalore, Karnataka. The business produces and sells alcoholic beverages. Whiskey, brandy, and rum are just a few of the spirits and alcohols that the company offers. Additionally, United Spirits produces foreign liquor brands that are manufactured in India.
2. Tilaknagar Industries Limited
The firm was started in 1933 and is located in India. Tilaknagar Industries is one of India's leading alcohol-related businesses, with a large portfolio of brands spanning the IMFL spectrum, including Whisky, Brandy, Rum, Gin, and Vodka, and a strong presence in South India and CSD stores. Tilaknagar Industries released Mansion House Reserve French Style Brandy in September 2022.
3. Deejay Distilleries Private Limited
The business was founded in 1984 and is based in Mumbai, Maharashtra. Producing and exporting IMFL is the company's business. These include Whisky, Vodka, Rum, Brandy, and Gin, among other items. For additional production, DDPL purchases both molasses- and grain-based spirits. Additionally, it brings in a fair amount of "Exotic Spirits" from Scotland, like Scotch and Malt.
4. Jagatjit Industries Limited
The company was started in 1944 and is based in India. The business produces a range of alcoholic drinks, such as malt whiskey, gin, and vodka. The "Binnie Scot," "Aristocrat," and "Black Velvet" brand names are used to sell the company's goods. Along with glass bottles and containers, Jagatjit Industries also manufactures and distributes frozen desserts, milk goods, and ghee under the "Milkfood" brand. The business will begin focusing on the premium section of the market in 2022 after switching to a franchise model.
5. Mohan Meakin Limited
The company was started in 1855 and is based in Ghaziabad. The company produces a variety of goods, including beer, I.M.F. spirits, abrasive goods, yeast, malt extract, fruit juices, and carbon dioxide gas. Old Monk Rum and Golden Eagle Beer are two of Mohan Meakin's flagship brands.
6. Radico Khaitan Limited,
The company was started in 1943 and is based in India. The business produces fertilizers, country liquor, Indian Made Foreign Liquor, and industrial alcohol. Manufacturing and selling alcoholic goods are the Company's primary businesses.
7. Globus Spirits Limited
The firm was started in 1993 and is based in India. The company's main lines of business are the production and distribution of bulk alcohol, hand sanitizer, franchise bottling, Indian Made Indian Liquor (IMIL), Indian Made Foreign Liquor (IMFL), and Indian Made Indian Liquor. Consumer goods and manufacturing are two of its business segments.
*Definition: Gin is an alcoholic drink made primarily by the distillation process from various grains and tastes. Gin is a native Dutch beverage, and juniper berries are its primary component. It was initially developed to purify the blood of those with kidney diseases.
