The wine cooler and chest freezer is expected to register robust growth in the Indian market. The availability of cheap indigenous wines, and exposure to quality wines, a variety of cooling options, and favorable regulatory environment are major drivers for growth. The wine cooler and chest freezer market in India is expected to grow at robust 4.9% and reach US$ 197.8 mn by 2025. The wine cooler and chest freezer market in India was evaluated at US$ 127.5 mn in 2016.
Get PDF brochure for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=26024 Key Factors Driving Wine Sales in India
The wine sales are rising in India as well as globally. This is largely thanks to the rise in quality wine manufacturing all over the world. However, challenges in the global sales continues to remain as high prices, and dominance of few countries like France, and Spain in establishing quality brands prevents growth. On the other hand, the Indian market is witnessing emergence of affordable, quality, and brands suited for local tastes. The various initiatives and lower taxes for wines are expected to continue growth high wine sales in the near future. For example, in Maharashtra state in India, taxes for hard-liquors can range between 200-300%. On the other hand, wine enjoys a completely free hand as it is touted as a healthy liquor as compared to all others.
Thanks to India’s large population, changing consumer preferences, and burgeoning urban metros like Delhi, Bangalore among others; there were over 1.2 million cases sold between 2012. Additionally, the investment in wineries continues to remain within reach of new players in Indian market. For example, according to the journal of Hotel and Business Management, players invested as little as $44,000 between 2009-2013 periods to start some of India’s top wineries. The wine production in India is still in its nascent stages, and continues to struggle to compete with the most premium brands from around the world. However, the growing disposable income, and growing demand for wines are expected to boost growth of the wine cooler and chest freezer market in the near future.
Globally, the sales of hard-liquors are undergoing dynamic shifts. On one hand, the demand for hard liquor is experiencing challenges as social drinking is becoming more commonplace