NEW DELHI (Commodity Online): India's wine consumption is rapidly increasing and is forecasted to grow at a compounded annual growth rate of 28% from 2009-12, according to RNCOS. India has emerged as one of the fastest growing markets for wine consumption on the global map. With a population base of over 1.1 Billion, the consumption of wine is extremely low, indicating vast potential for future growth. Besides low consumption level, various other factors such as increasing disposable income, amplified wine marketing and influence of western cultures have given a new turn to the wine consumption pattern in India.

The "Indian Wine Industry Forecast to 2012" by RNCOS stated that the wine market is largely dominated by domestically produced wine and imports account for a less share in the total consumption. This study extensively covers each factor that is partially encouraging the domestic wine industry.

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"We believe that sales of domestic wines will continue to dominate the Indian wine market over the forecast period, but high growth will also be seen in the consumption of imported wine. The report anticipates that the consumption of imported wines will rise at a CAGR of around 32% during 2009-2012, well above the industry's overall growth. Various factors driving growth in imported wine consumption have been extensively covered in the report," the report added.

The report gives deep insight into the consumption of wine in terms of domestic or imported wines, price structure, sales by location, type of wine consumed and a possible regional segmentation. It also highlights market trends and developments responsible for growth in the Indian wine market over the forecast period. Besides, the report provides analysis of wine production, wine exports and wine imports in the country, RNCOS press release said. (Courtesy: IndiaPRWire)