Wine - Western Asia

The Wine market in Western Asia is experiencing significant growth and development in recent years. Customer preferences in the Wine market in Western Asia are shifting towards more premium and high-quality wines. Consumers are becoming more knowledgeable about different types of wines and are willing to pay a premium for wines that are produced using traditional methods and high-quality grapes. This trend is driven by a growing middle class in the region, who are increasingly seeking luxury and premium products. One of the key trends in the Wine market in Western Asia is the increasing popularity of red wines. Red wines are favored by consumers in the region due to their rich flavors and health benefits. Additionally, red wines are often associated with celebrations and special occasions, making them a popular choice for social gatherings. Another trend in the market is the growing demand for organic and natural wines. Consumers in Western Asia are becoming more health-conscious and are seeking wines that are produced using organic and sustainable farming practices. This trend is also influenced by global concerns about the environment and sustainability. Local special circumstances in Western Asia, such as cultural and religious factors, also play a role in shaping the Wine market. For example, in some countries in the region, alcohol consumption is restricted or prohibited due to religious beliefs. This has led to the development of non-alcoholic or low-alcohol wine alternatives to cater to the needs of these consumers. Underlying macroeconomic factors, such as economic growth and increasing disposable income, are driving the development of the Wine market in Western Asia. As the economy in the region continues to grow, consumers have more purchasing power and are able to afford higher-priced wines. Additionally, Western Asia is experiencing a rise in tourism, which is also contributing to the growth of the Wine market as tourists are often interested in trying local wines. In conclusion, the Wine market in Western Asia is experiencing growth and development due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards premium and high-quality wines, the increasing popularity of red wines, and the demand for organic and natural wines are some of the key trends in the market.

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.