According to the latest market research report title “GCC Alcoholic Drinks Market By Product Type (Beer, Spirit, Cider, Wines, Pre-Mixed Drinks), By Distribution Channel (On-Trade, Off-Trade, Hypermarkets & Supermarkets, Specialty Stores), By Packaging (Bottles Tin Cans), By Country (The UAE, Qatar, Oman, Bahrain), By Company (Heineken NV, Anheuser-Busch InBev NV, Diageo PLC, Asahi Group Holdings Ltd., Pernod Ricard Groupe, Carlsberg A/S, Aujan Industries, LVMH Moët Hennessy, Bacardi & Co., Molson Coors Brewing Co, and others)–Forecast to 2030″, published by MarkNtel Advisors, The GCC Alcoholic Drinks Market size is estimated to be around 300 million liters in 2023 and estimated to grow at a CAGR of around 7.5% during the forecast period, i.e., 2024-30.
The data present in the report exhibit from the historic years (2019-22) and the base year (2023) to put together estimations for the forecast period (2024-30). In the study, our researchers put together reliable, unbiased, and accurate data to enlighten investors about fluctuations in the industry & anticipations on what to expect in the future. Since the industry is dynamic and highly fragmented, this report enables the prominent players to make strategic moves associated with their investments in the coming years.
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GCC Alcoholic Drinks Market Challenge:
Stringent Government Regulations and Exorbitant Taxes Impac
ting the Alcoholic Drinks Market Negatively – In the GCC region, many restrictions and higher taxes & tariffs are imposed on alcoholic products due to strong religious beliefs resulting in the reduced accessibility of these beverages. In the UAE and Qatar, the sale and distribution of alcohol products are restricted to licensed outlets with limited operating hours within authorized locations. Also, Qatar in 2022, introduced ‘Sin Taxes’ which doubles the alcohol prices in the country.
These exorbitant taxes, import duties, and licensing fee for the sale of alcoholic drinks increases the prices of these beverages in this region. Higher prices also affect the tourism and hospitality sector. Such taxation policies reduce the market size due to the lower consumer base, further affecting the producers of alcoholic drinks. Thus, higher pricing and restrictive policies negatively impacted the market for the past couple of years and also acted as a barrier for the new entrants in the market leading to limited product variety which would affect the market growth in the near future as well.
GCC Alcoholic Drinks Market Segmentation
The GCC Alcoholic Drinks Market is highly robust and fragmented into numerous segments;
By Product Type
-Beer – Market Size & Forecast 2019-2030, (Quantity Sold in Million Liters & Revenues in USD Million)
-Spirits – Market Size & Forecast 2019-2030, (Quantity Sold in Million Liters & Revenues in USD Million)
-Cider – Market Size & Forecast 2019-2030, (Quantity Sold in Million Liters & Revenues in USD Million)
-Wines – Market Size & Forecast 2019-2030, (Quantity Sold in Million Liters & Revenues in USD Million)
-Pre-Mixed Drinks – Market Size & Forecast 2019-2030, (Quantity Sold in Million Liters & Revenues in USD Million)
By Distribution Channel
-On-Trade – Market Size & Forecast 2019-2030, (Quantity Sold in Million Liters & Revenues in USD Million)
-Off-Trade – Market Size & Forecast 2019-2030, (Quantity Sold in Million Liters & Revenues in USD Million)
–Hypermarkets & Supermarkets – Market Size & Forecast 2019-2030, (Quantity Sold in Million Liters & Revenues in USD Million)
–Specialty Stores – Market Size & Forecast 2019-2030, (Quantity Sold in Million Liters & Revenues in USD Million)
By Packaging
-Bottles – Market Size & Forecast 2019-2030, (Quantity Sold in Million Liters & Revenues in USD Million)
-Tin Cans – Market Size & Forecast 2019-2030, (Quantity Sold in Million Liters & Revenues in USD Million)
By Country
-The UAE
-Qatar
-Oman
-Bahrain
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Key Players Operating in the GCC Alcoholic Drinks Market: –
LVMH Moët Hennessy
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Bacardi & Co.
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Molson Coors Brewing Co
-Business Description
-Product Portfolio
-Strategic Alliances or Partnerships
-Recent Developments
-Financial Details
-Others
Key Questions Answered:
- What is the projected CAGR of the GCC Alcoholic Drinks Market during the forecast period?
- Which segment is expected to lead the GCC Alcoholic Drinks Market?
- Who are the prominent players driving market growth?
Key Offerings:
- Market Share, Size, and Revenue Forecast
- Market Dynamics: Growth drivers, restraints, investment opportunities, and key trends
- Landscape: Leading key players and other prominent participants
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