NEW YORK, Aug. 2, 2022 /PRNewswire/ — The wine market in India is set to grow by USD 274.00 million from 2021 to 2026 as per the latest market report by Technavio. The report projects the market to decelerate at a CAGR of 19.78%. Also, the market to record a 29.30% YOY growth rate in 2022. In addition, the report offers a detailed analysis of the current market scenario, COVID-19 impact, the latest trends and drivers, and the overall market environment. The wine market share growth in India by the domestic segment will be significant for revenue generation. The demand for premium wine brands is increasing among consumers in India. Rising consumer preferences for smooth, rare, and innovative flavors of wine have increased, which has fostered the domestic production of wine. The rising demand for premium wine in recent years has led to an increase in the launch of innovative products.
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Browse for the full market research Report “ Wine Market in India by Sales Type and Wine Type – Forecast and Analysis 2022-2026 ” – Technavio
- The availability of online stores and online specialty retailers provides a wide range of choices to consumers in addition to online shopping conveniences.
- The increasing use of online channels for purchasing products is likely to drive the growth of the wine market in India. The presence of strong online distribution channels and platform providers is expected to boost the growth of online sales.
- The increase in the use of online sales channels is expected to create new opportunities for vendors where they can target customers without geographical boundaries, improve operational efficiencies, and provide customized products to consumers. Thus, the growing adoption of online sales channels will increase the profit margins of wine vendors, …