“The alcohol industry embraces online retailing with the advent of players such as Madhuloka, Whiskey Marketplace, says RNCOS”
The alcohol industry in the country witnessed slowest growth in over a decade due to cumulative sales decline with the ban on serving alcohol 500 meters away from highway. The Indian government imposed ban in order to prevent drunken driving on high-speed thoroughfares. In 2016, the consumption of alcohol in India stood at 10.2 Billion liters and is forecasted to grow at a CAGR of around 9% during the forecasted period of 2018 – 2022.
The act of prohibiting alcohol in the country has been strictly enforced by states namely Gujarat, and some parts of Kerala etc. The other states such as Madhya Pradesh are expected to roll out stringent anti-liquor law in order to stop illicit liquor trade while imposing ban within 5 km radius of banks of river Narmada. Amidst the imposition of ban, the alcohol industry is witnessing a shift from traditional retail format to modern retailing, as per RNCOS analysis.
Highlighting the potential of this industry, Shushmul Maheshwari, CEO – RNCOS said, “Online retailing in alcohol industry is flourishing in cities namely Mumbai, Bengaluru etc. The modern format is a scalable even though there exist significant regulatory and distribution hurdles”.
According to RNCOS, owing to the positioning as a potential market, the country has become a favorite playing field for most of the multinational liquor companies. With rapid increase in urban population, sizable middle class population, rising spending power, and a sound economy, there has been an increase in consumption of alcohol.
The alcohol industry has a vast potential to grow owing to growing awareness about health benefits associated with moderate drinking, which has led to more and more people adopt alcohol in their lifestyle. Changing demographics, increasing acceptance of women consuming alcohol, growing popularity of wine and high demand for expensive liquor is expected to drive the market in the near future.
With more than a decade of experience in beverage industry, RNCOS can act as a potential growth partner in all your business endeavors, be it product launching, geographic expansion, sales improvement, distributor/retailer tie-ups etc. We help make your business flourish by studying the market dynamics, collating with you business and devising the right strategies.
Download the white paper from this link: http://rncos.viewpage.co/Indian-Alcohol-Industry
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