India: Wine Market 2024

Wine Market Size in India

After two years of decline, the Indian wine market increased by 113% to $X in 2021. Over the period under review, consumption continues to indicate a slight expansion. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in years to come.

Wine Exports

Exports from India

For the fifth year in a row, India recorded decline in overseas shipments of wine, which decreased by -24.5% to X litres in 2021. Over the period under review, exports saw a abrupt curtailment. The growth pace was the most rapid in 2013 when exports increased by 89%. The exports peaked at X litres in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, wine exports reduced to $X in 2021. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 77% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X litres), Hong Kong SAR (X litres) and the Netherlands (X litres) were the main destinations of wine exports from India, together accounting for 55% of total exports. The UK, Japan, the United States, France, Germany, Spain, Ghana, Australia, the United Arab Emirates and Italy lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2021, the biggest increases were recorded for Ghana (with a CAGR of +79.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wine exported from India were Singapore ($X), the Netherlands ($X) and Hong Kong SAR ($X), together comprising 78% of total exports. These countries were followed by the United States, Japan, France, the UK, Spain, Australia, Italy, Germany, the United Arab Emirates and Ghana, which together accounted for a further 17%.

Among the main countries of destination, Ghana, with a CAGR of +88.9%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average wine export price amounted to $X per litre, picking up by 19% against the previous year. Over the period under review, the export price showed a remarkable increase. The growth pace was the most rapid in 2015 when the average export price increased by 44% against the previous year. Over the period under review, the average export prices hit record highs at $X per litre in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per litre), while the average price for exports to Germany ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Wine Imports

Imports into India

In 2021, supplies from abroad of wine increased by 85% to X litres for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total imports indicated a modest expansion from 2012 to 2021: its volume increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at X litres in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, wine imports skyrocketed to $X in 2021. In general, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Australia (X litres) constituted the largest wine supplier to India, with a 47% share of total imports. Moreover, wine imports from Australia exceeded the figures recorded by the second-largest supplier, Chile (X litres), fourfold. Italy (X litres) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Australia amounted to +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+14.6% per year) and Italy (+5.8% per year).

In value terms, Australia ($X) constituted the largest supplier of wine to India, comprising 40% of total imports. The second position in the ranking was taken by Italy ($X), with a 15% share of total imports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Australia stood at +16.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+5.7% per year) and France (-13.1% per year).

Import Prices by Country

In 2021, the average wine import price amounted to $X per litre, declining by -3.4% against the previous year. Overall, the import price saw a slight shrinkage. The most prominent rate of growth was recorded in 2014 an increase of 47% against the previous year. Over the period under review, average import prices attained the peak figure at $X per litre in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per litre), while the price for Chile ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+23.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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