India Stout Market Size Grows at Steady CAGR of 5.65%
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India stout market size at USD 341.7 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the India stout market size to grow at a CAGR of 5.65% reaching a value of USD 474.54 million by 2029.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India stout market size at USD 341.7 million in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the India stout market size to grow at a CAGR of 5.65% reaching a value of USD 474.54 million by 2029. Major growth drivers for the India stout market include the increasing evolving consumer preferences and a rising appetite for diverse beer styles, notably stouts, which offer distinctive flavors. India has seen a craft beer boom recently, marked by a proliferation of microbreweries and brewpubs. Craft brewers are tapping into this trend by experimenting with various beer styles, including stouts, to satisfy a more discerning clientele seeking locally crafted beverages. Urbanization and rising disposable incomes are also contributing to the beer market's expansion in India, as people in urban areas explore a wider array of alcoholic beverages, including stouts. Also, effective marketing and promotional efforts by breweries have played a pivotal role in popularizing stouts by educating consumers about their distinctive qualities. Exposure to international beer styles and trends, including stouts from various global regions, further shapes consumer preferences and boosts stout demand. To meet diverse tastes, breweries in India are continually introducing innovative stout variants like coffee stouts, chocolate stouts, and barrel-aged stouts, fostering a positive market outlook. However, high price of stout beer and competition from other type of beer is anticipated to restrain the overall market growth during the forecast period.
India Stout Market – Overview
A stout is a renowned beer variety known for its rich, full-bodied taste and deep, opaque hue. It belongs to the ale family and is typically brewed using roasted barley or other dark, roasted malts, giving it a distinctive and robust flavor profile. This beer variety is notably rich in vitamins, proteins, antioxidants, carbohydrates, and iron, potentially offering health benefits, such as preventing blood clots, aiding muscle development, and reducing the risk of heart attacks. Its deep, dark color, ranging from deep brown to pitch black, adds to its unique visual appeal, achieved through the inclusion of roasted barley or dark malts in the brewing process. Stouts often feature notes of coffee, chocolate, caramel, and occasionally subtle hints of dried fruit or smokiness. Their intricate flavors and substantial character make them versatile for pairing with a wide range of foods, including roasted meats, stews, barbecued dishes, chocolate desserts, and even oysters. Furthermore, stouts offer an extensive range of specialized variations, such as coffee stouts, chocolate stouts, milk stouts, and barrel-aged stouts, catering to diverse taste preferences and allowing beer enthusiasts to explore and savor the diversity within the stout category.
Sample Request @ https://www.blueweaveconsulting.com/report/india-stout-market/report-sample
Impact of COVID-19 on India Stout Market
Covid-19 pandemic adversely affected the India stout market. Government-imposed lockdowns and restrictions on social gatherings severely affected the consumption of alcoholic beverages, including stout. Many bars, restaurants, and pubs were forced to shut down temporarily, resulting in a decline in on-premises consumption. Also, supply chain disruptions and economic uncertainties hindered the production and distribution of stout. However, as the situation gradually stabilized, there was a shift towards increased at-home consumption of stout, driven by a rise in e-commerce alcohol sales. The market demonstrated resilience, adapting to changing consumer behavior and emphasizing online sales channels to mitigate the pandemic's adverse effects.
India Stout Market – By Distribution Channel
Based on distribution channel, the India stout market is bifurcated into On-trade and Off-trade segments. The on-trade segment held a higher share in the India stout market and is expected to maintain its dominance throughout the forecast period by distribution channel. It can be attributed to the enduring appeal of the social and experiential aspects of consuming stout in bars, restaurants, and pubs. These establishments provide a platform for social gatherings, offering opportunities for consumers to enjoy stout in a communal setting. Also, the on-trade segment often offers a diverse range of stout varieties and food pairing options, enhancing the overall consumer experience and reinforcing its position as the preferred choice for enjoying stout.
Competitive Landscape
Major players operating in the India stout market include Goa Brewing Company, B9 Beverages Pvt. Ltd., Simba Beer, Briggs Brewery, Arbor Brewing Company, Independence Brewing Company, and Toit Breweries Private Limited. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
Contact Us:
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
