Alcoholic Industry Is Changing Its Outlook Through CSR

Abstract

Indian alcoholic beverage industry is one of the biggest alcohol industries across the globe only behind from two major countries such as China and Russia. With population of 1.3 billion India is one of the largest consumer markets across the globe. Growing demand for alcoholic beverages in India is mainly due to therich young population base and growing consumption of alcohol by the young generation. It is also demographically one of the youngest with around 50% of its population below the age of 25 and around 65% below the age of 35, this will add fuel to the rapid growth of alcoholic beverages market. The majority of alcohol volume is consumed by people between the ages of 18 and 40. Goldstein Research analyst forecast the India alcoholic beverages market to grow at a CAGR of 7.4% during the forecast period 2016-2024. Further, the market is anticipated to reach USD 39.7 billion by the end of forecast period as alcohol consumption is growing in urban areas of the country.