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Key regions: United States, United Kingdom, Worldwide, United Kingdom, Australia
The Spirits market in Lebanon has been experiencing significant growth in recent years. Customer preferences for premium and high-quality spirits, along with a growing interest in mixology and cocktail culture, have contributed to this trend. Additionally, local special circumstances and underlying macroeconomic factors have played a role in shaping the market. Customer preferences in Lebanon have shifted towards premium spirits, with consumers showing a greater interest in quality and craftsmanship. This can be attributed to a rise in disposable income and changing consumer tastes. Lebanese consumers are increasingly willing to spend more on high-end spirits, seeking unique and sophisticated flavor profiles. As a result, there has been a growing demand for premium whiskies, vodkas, and gins in the market. Another key trend in the Spirits market in Lebanon is the increasing popularity of mixology and cocktail culture. Lebanese consumers are becoming more adventurous in their drink choices and are seeking new and innovative cocktails. This trend has been fueled by a growing number of bars and restaurants offering creative and well-crafted cocktails. As a result, there has been a surge in the demand for spirits that are versatile and can be used in a wide range of cocktails. Local special circumstances have also played a role in the development of the Spirits market in Lebanon. The country has a rich cultural heritage and a long history of winemaking, which has fostered a culture of appreciation for alcoholic beverages. Lebanese consumers have a sophisticated palate and a deep appreciation for quality spirits. This has created a favorable environment for the growth of the Spirits market, as consumers are willing to experiment with new and unique products. Underlying macroeconomic factors have also contributed to the growth of the Spirits market in Lebanon. The country has experienced a period of relative stability and economic growth in recent years, which has led to an increase in disposable income. This has enabled consumers to spend more on luxury goods, including premium spirits. Additionally, the tourism industry in Lebanon has been thriving, attracting visitors from around the world who are interested in experiencing the country's vibrant nightlife scene. This has further boosted the demand for spirits in the market. In conclusion, the Spirits market in Lebanon is experiencing growth due to customer preferences for premium and high-quality spirits, a growing interest in mixology and cocktail culture, local special circumstances, and underlying macroeconomic factors. As Lebanese consumers continue to seek out unique and sophisticated spirits, the market is expected to continue its upward trajectory.
Data coverage:
The data encompasses B2C enterprises. The at-home market covers retail sales via super- and hypermarkets, eCommerce, convenience stores, or similar sales channels. The out-of-home data encompasses all sales to hotels, restaurants, catering, cafés, bars, and similar hospitality service establishments. Combined numbers encompass both the at-home market and the out-of-home market. Both the at-home and the out-of-home market are valued at retail selling prices including all sales and consumption taxes.
Modeling approach:
Market sizes are determined through a Top-Down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending (e.g. consumer spending on alcoholic beverages, consumer spending at Hotels, Restaurants etc.), and price level index. This data helps us estimate the market size for each country individually.
Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Alcoholic Drinks market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.
Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)