According to MarkNtel Advisors study the GCC Alcoholic Drinks Market size is estimated to be around 9.9 billion in 2024 and estimated to grow at a CAGR of around 7.5% during the forecast period, i.e., 2024-30.
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Key Findings of the Study: GCC Alcoholic Drinks market
GCC Alcoholic Drinks Market Driver:
Rising Expatriate Population in GCC Region Fueling the Growth of the Alcoholic Drinks Market – The expatriate population in the GCC region is attributed to various factors including the expanding economy, and continuous investment for diversification leading to the rapid growth of various industries, resulting in the increasing demand for workforce in the region. Over the years, the non-GCC citizen population has increased due to job opportunities and employment benefits. According to the ISI World Statistics Congress in 2021, the expatriates made up more than half around 50.9% of the total population in the GCC region which was around 46.6% of the total population in 2010.
Expatriates coming from diverse regions have different preferences due to their cultural background has led to the demand for various food beverages including alcoholic drinks such as beer, wine, etc. Hence, to meet the demand for these beverages, alcoholic drinks manufacturers extended the import and distribution activities in this region. GCC region’s growing economy and rising non-GCC population would further accelerate the market in the forecast period.
GCC Alcoholic Drinks Market Challenge:
Stringent Government Regulations and Exorbitant Taxes Impacting 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.
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Scope of the Report and GCC Alcoholic Drinks Market Segmentation:
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)
The on-trade segment is expected to hold a major share of the GCC Alcoholic Drinks Market in the forthcoming period.
GCC Alcoholic Drinks Market Development:
- In 2023, The UAE removed 30% municipality tax from all alcoholic beverages as well as the personal liquor licensing fees. Personal liquor licences are free-to-obtain for those eligible to legally purchase alcoholic beverages in Dubai.
Geographical Analysis:
By Country
- The UAE
- Qatar
- Oman
- Bahrain
The UAE is anticipated to hold a significant share of the market in the upcoming years.
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