Netscribes’ latest market research report titled White Spirits Market in India 2015 highlights the competitive market scenario of the Indian white spirits market and its growth prospects in the ensuing years. Alcoholic beverages market in India is dominated by whisky; however, the white spirits market has been the fastest growing segment. Vodka forms a huge market under white spirits in India followed by gin and white rum. Due to changing cultures, consumers are gradually opting to visit pubs and lounges more frequently. With a growth in young population in India, the youth is more inclined to drinking lighter spirits which is spurring growth in white spirits such vodka, rum, gin and tequila. Players in the industry are launching regular and premium brands to tap this potential and growing demand.
One of the reasons for the low preference for white spirits is high taxes imposed on their consumption. The key challenges identified encompass high tax structure and improper regulations and advertising ban on alcohol. Key trends in the market include innovative packaging, entry of new players and growing popularity of flavored drinks.