Indian spirits market is likely to miss the pace, at which it was growing before, in the next few years, finds a new report by UK-based research firm Wines & Spirits.
According to the report 'The Future of the Spirits Market in India, to 2016', the compound annual growth rate of the country's spirits market is forecasted to grow at 9% during 2011-16, against 12.08% during 2006-11.
A possible significant slowdown in the growth rate across all the industry segments - including brandy, gin & genever, liqueurs & cocktails, rum & cane spirits, specialty spirits, tequila & mezcal, vodka, and whiskey - will be the major reason behind the drop in overall growth rate.
The market size too has been estimated to grow slowly at 53.85% in the forecast period when compared to 76.85% in the review period, according to survey.
Among the segments, specialty spirits held the leading market share, holding around 67% in 2006 and 2011 and expected to continue the momentum until 2016 with a slight drop at 66.4%.
Whiskey is the second largest segment in India with around 20% share, and is likely to show a marginal growth in the share from 2006 through 2016.
The report also provides segment-wise consumption by channel, price segment, and alcoholic strength alongside off-premise and on-premise consumption analysis.
