Wine - Bahrain

The Wine market in Bahrain has been experiencing steady growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in Bahrain have shifted towards a more sophisticated and diverse taste in wines. Consumers are becoming more knowledgeable about different wine varieties and are seeking out unique and high-quality options. This has led to an increase in demand for premium wines from renowned wine-producing regions around the world. Additionally, there is a growing interest in organic and natural wines, as health-conscious consumers look for products that align with their lifestyle choices. Trends in the market reflect the global wine industry, with Bahrain following suit. One notable trend is the rise of online wine sales and delivery services. This has made it easier for consumers to access a wide range of wines from different regions, without the need to visit physical stores. The convenience and accessibility of online platforms have contributed to the growth of the wine market in Bahrain. Another trend is the increasing popularity of wine tastings and wine education events. Wine enthusiasts are eager to expand their knowledge and refine their palate, leading to a demand for educational experiences and events that cater to this interest. Local special circumstances also play a role in the development of the wine market in Bahrain. As a Muslim-majority country, Bahrain has a unique set of regulations and cultural considerations that impact the consumption and sale of alcoholic beverages, including wine. The government imposes strict regulations on the import, sale, and consumption of alcohol, including the requirement for a license to sell alcoholic beverages. These regulations can impact the availability and distribution of wine in the market. However, Bahrain has a relatively liberal attitude towards alcohol compared to some of its neighboring countries, which has contributed to the growth of the wine market. Underlying macroeconomic factors also influence the wine market in Bahrain. The country's strong economy, high disposable income, and growing tourism sector have created a favorable environment for the wine industry. As the economy continues to grow, consumers have more purchasing power and are willing to spend on luxury goods, including wine. The influx of tourists, both from neighboring countries and international visitors, has also contributed to the growth of the wine market, as they seek out unique and cultural experiences during their stay in Bahrain. In conclusion, the Wine market in Bahrain is developing due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The shift towards more sophisticated tastes, the rise of online sales and wine education events, unique regulations and cultural considerations, and a strong economy and tourism sector all contribute to the growth and development of the wine market in Bahrain.

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.