Alcoholic Drinks - Western Asia

The Alcoholic Drinks market in Western Asia has been experiencing significant growth in recent years. Customer preferences in the region have been shifting towards premium and craft alcoholic beverages. Consumers are increasingly seeking unique and high-quality products, and are willing to pay a premium for them. This trend is driven by a growing middle class with higher disposable incomes and a desire for more sophisticated and diverse drinking experiences. Additionally, there is a rising interest in locally produced alcoholic drinks, as consumers value products that are made with local ingredients and support local businesses. One of the key trends in the market is the increasing popularity of wine. Wine consumption has been on the rise, particularly among younger consumers. This can be attributed to changing lifestyles and a growing appreciation for wine as a sophisticated and healthier alternative to other alcoholic beverages. Western Asian countries, such as Israel and Lebanon, have been gaining recognition for their wine production, further fueling the demand for wine in the region. Another trend in the market is the growing popularity of craft beer. Craft beer has seen a surge in popularity worldwide, and Western Asia is no exception. Consumers are increasingly interested in trying new and unique beer flavors, and craft breweries are meeting this demand by offering a wide variety of innovative and artisanal beers. This trend is also driven by the rise of craft beer festivals and events, which provide consumers with the opportunity to explore different beer styles and learn about the brewing process. Local special circumstances in Western Asia also contribute to the development of the Alcoholic Drinks market. For example, some countries in the region have cultural and religious restrictions on alcohol consumption, which can create a niche market for non-alcoholic alternatives. Additionally, the region's diverse culinary traditions and growing tourism industry provide opportunities for the development of local alcoholic beverages that complement the local cuisine and attract international visitors. Underlying macroeconomic factors, such as population growth, urbanization, and increasing tourism, also play a role in the growth of the Alcoholic Drinks market in Western Asia. As the population in the region continues to grow and more people move to urban areas, the demand for alcoholic beverages is expected to increase. Furthermore, the growing tourism industry in Western Asia attracts visitors from around the world who are interested in experiencing the local culture, including its food and drinks. This presents an opportunity for the Alcoholic Drinks market to cater to the preferences of international tourists and expand its customer base.

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.