According to a new report published by Allied Market Research, titled,"Bahrain Alcoholic Beverages Market by Type, and Distribution Channel: Opportunity Analysis and Industry Forecast, 2018 - 2025,"the Bahrain Alcoholic Beverages market was valued at $24,853 thousand in 2017, and is projected to reach $30,405 thousand by 2025, growing at a CAGR of 2.5% from 2018 to 2025. The distilled spirits type segment accounted for maximum share in 2017.
Alcoholic beverages are portable drinks that have quenching, refreshing, and stimulating qualities. They contain ethanol yielded from fermentation of grains, fruits, or other sugar sources. They supply calories along with very few essential nutrients. Although excess consumption of calories results in being overweight, however moderate consumption can have beneficial health effects for some individuals. Alcoholic beverages are segmented based on their type, which include beer, wine, distilled spirits, and others. These types have different methods of preparation and are characterized by different effects and tastes. They have a prolonged effect on the human brain with a depressant action. Beer from cereal grains, wine from grapes, and other distilled beverages are sold as commodities. The pricing of these beverages is essentially determined by the cost of production and the duties levied on those costs.
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The demand for distilled spirits in the Bahrain alcoholic beverages industry is relatively high, owing to the increase in number of younger population and rise in disposable income. Also, the cocktails available in the market contain distilled spirits and are characterized by unique tastes and experiences. However, high cost of premium/super premium products and upsurge in demand for non-alcoholic beverages, owing to health concerns are expected to hamper the Bahrain alcoholic beverages market growth during the forecast period. In addition, taxations and higher excise duties on imported as well as local alcoholic beverages also inhibits the Bahrain alcoholic beverages market growth.
Demand for alcoholic beverages in Bahrain is growing due to increase in disposable income and change in culture and consumer preferences. Also, increase in number of on premises distribution channels along with development of naturally sweetened healthier alcoholic drinks are anticipated to augment the Bahrain alcoholic beverages market growth
On the contrary, introduction of healthier variety of spirits and other alcoholic beverages is expected to offer lucrative opportunities for the Bahrain alcoholic beverages market players.
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Key Findings of theBahrain Alcoholic Beverages Market:
- Based on type, the distilled spirit segment dominated the Bahrain alcoholic beverages market in 2017 and is expected to grow at a CAGR of 1.1% during the forecast period.
- By type, the others segment is anticipated to grow throughout the forecast period, with the highest CAGR of 5.5%.
- By distribution channel, liquor stores occupied around one-third of the Bahrain alcoholic beverages market size in 2017, in terms of value.
- Based on distribution channel, the internet retailing segment, is expected to grow at the fastest rate of 5.6% during the forecast period.
- The report provides an extensive analysis of the Bahrain alcoholic beverages market forecast, and trends from 2017 to 2025 to determine the prevailing opportunities.
The major companies profiled in the report include Anheuser-Busch InBev (AB InBev), BAVARIA N.V., Brown-Forman, Carlsberg Group (Carlsberg), Diageo PLC (Diageo), Glen Moray, Heineken N.V., Bacardi Global Brands Limited, Chivas Holdings Limited, and United Dutch Breweries B.V.
