India Cider Market Top 5 Importing Countries and Market Competition (HHI) Analysis
In 2024, India`s cider import market saw significant growth with top exporting countries including Japan, South Korea, Switzerland, UK, and Metropolitan France. The high Herfindahl-Hirschman Index (HHI) indicates a concentrated market structure. Despite a strong compound annual growth rate (CAGR) of 24.27% from 2020 to 2024, a notable decline in growth rate of -38.42% from 2023 to 2024 suggests a potential shift in market dynamics. Continued monitoring of these trends will be crucial for stakeholders in the cider import industry targeting the Indian market.
India Cider Market Synopsis
The India cider market has been witnessing a steady growth in recent years. The growing popularity of new flavored ciders, increasing disposable incomes, rising demand for healthier drinks, and increasing preference towards convenience foods are some of the major factors driving the growth of India cider market. In addition, several large alcoholic beverage companies such as United Breweries Ltd., Carlsberg India Pvt. Ltd., SABMiller India Pvt. Ltd., and others have also started producing their own versions of ciders in order to capitalize on this trend.
Market Drivers
1. Growing Disposable Income: India per capita income has grown significantly over the years which has enabled consumers to upgrade their lifestyle and purchase more expensive products including alcoholic beverages like cider. 2. Premiumization Trend: Consumers are increasingly shifting towards premium brands leading to higher sales volume from price points above INR 500 per bottle/can compared to below INR 300 category earlier due to increased purchasing power coupled with rising health consciousness among millennials driving them towards better quality alcohol products such as beer & spirits. 3. Changing Lifestyle & Preferences: With changing lifestyles and preferences amongst younger population, there has been an increased focus on healthier options available when it comes to drinking alcohol which makes craft beers or ciders attractive alternatives due its low sugar content than other drinks like hard liquor or wine.
Challenges of the Market
1. Taxation Laws : High taxation imposed on alcoholic beverage industry works against its expansion into new segments by making these product costlier thus widening gap between affordable and luxury goods discouraging potential customers from buying them , resulting into declining sales volumes especially for imported ciders which have greater tax burden than locally produced ones. 2. Lack Of Awareness : With limited advertising opportunities within the country because of strict censorship laws , manufacturers find it difficult promote their brand awareness through traditional mediums like television , radio etc which further affects consumption rate as people are not fully aware about different varieties of beverages available in market.
Key Players in the Market
Some key players operating in India cider market include AB InBev owned Hayward`s 5000 , United Breweries Ltd owned Kingfisher Ultra Strong Beer & Carlsberg India Pvt Ltd owned Tuborg Strong Beer amongst others.
Key Highlights of the Report:
- India Cider Market Outlook
- Market Size of India Cider Market, 2024
- Forecast of India Cider Market, 2031
- Historical Data and Forecast of India Cider Revenues & Volume for the Period 2021-2031
- India Cider Market Trend Evolution
- India Cider Market Drivers and Challenges
- India Cider Price Trends
- India Cider Porter's Five Forces
- India Cider Industry Life Cycle
- Historical Data and Forecast of India Cider Market Revenues & Volume By Type for the Period 2021-2031
- Historical Data and Forecast of India Cider Market Revenues & Volume By Flavored Cider for the Period 2021-2031
- Historical Data and Forecast of India Cider Market Revenues & Volume By Plain Cider for the Period 2021-2031
- Historical Data and Forecast of India Cider Market Revenues & Volume By Distribution Channel for the Period 2021-2031
- Historical Data and Forecast of India Cider Market Revenues & Volume By Speciality Stores for the Period 2021-2031
- Historical Data and Forecast of India Cider Market Revenues & Volume By Supermarket/Hypermarkets for the Period 2021-2031
- Historical Data and Forecast of India Cider Market Revenues & Volume By Online Retail Stores for the Period 2021-2031
- Historical Data and Forecast of India Cider Market Revenues & Volume By Other Channels for the Period 2021-2031
- India Cider Import Export Trade Statistics
- Market Opportunity Assessment By Type
- Market Opportunity Assessment By Distribution Channel
- India Cider Top Companies Market Share
- India Cider Competitive Benchmarking By Technical and Operational Parameters
- India Cider Company Profiles
- India Cider Key Strategic Recommendations
