Spirits - Oman

The Spirits market in Oman has been experiencing significant growth in recent years.

Customer preferences: Oman is known for its rich cultural heritage and traditional values, which have a significant impact on customer preferences in the Spirits market. Omani consumers tend to prefer premium and high-quality spirits, such as whisky, vodka, and rum. They value brands that offer a wide range of flavors and unique blends. Additionally, there is a growing demand for craft spirits and locally produced beverages, as consumers are becoming more interested in supporting local businesses and experiencing authentic products.

Trends in the market: One of the key trends in the Spirits market in Oman is the increasing popularity of whisky. Whisky has gained a strong following among Omani consumers, who appreciate its complex flavors and the craftsmanship involved in its production. The demand for premium whisky brands, especially single malt Scotch whisky, has been steadily rising. This trend can be attributed to the growing affluence of the Omani population and their willingness to spend on luxury goods. Another trend in the market is the rise of flavored spirits. Omani consumers are increasingly seeking unique and innovative flavors in their spirits, such as fruit-infused vodkas and spiced rums. This trend reflects a desire for variety and experimentation among consumers, as well as a growing interest in mixology and cocktail culture.

Local special circumstances: The Omani market for Spirits is heavily regulated by the government, with strict laws governing the sale and consumption of alcoholic beverages. Alcohol can only be purchased from licensed outlets, such as hotels, restaurants, and specialized stores. This regulatory environment creates a unique challenge for companies operating in the Spirits market, as they need to navigate a complex set of rules and regulations to reach their target customers.

Underlying macroeconomic factors: The growth of the Spirits market in Oman can be attributed to several underlying macroeconomic factors. Firstly, Oman has experienced steady economic growth in recent years, which has resulted in an increase in disposable income among the population. This has translated into higher spending on luxury goods, including premium spirits. Secondly, the tourism industry in Oman has been expanding rapidly, attracting a growing number of international visitors. This has created a demand for high-quality spirits in hotels, restaurants, and bars, as tourists seek to explore the local culture and indulge in unique experiences. Lastly, changing social attitudes towards alcohol consumption have also contributed to the growth of the Spirits market in Oman. While alcohol was traditionally seen as taboo in Omani society, there has been a gradual shift in acceptance and tolerance towards moderate consumption. This has created new opportunities for companies in the Spirits industry to cater to a broader customer base. Overall, the Spirits market in Oman is experiencing growth due to evolving customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As the market continues to develop, it is important for companies to understand and adapt to these dynamics in order to capitalize on the opportunities available.

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.