Bahrain Alcoholic Beverages Market: Overview
Globally, alcohol consumption has increased significantly in the last couple of years. People these are more open towards alcohol consumption and prefer drinks more often. Growing popularity among millennials for alcohol consumption has also increased significantly, that has further fueled growth in the alcohol market. Rising population of young adults and high income among people has further augmented the growth in the Bahrain alcoholic beverages market. Moreover, the cocktails accessible in the market contain distilled spirits and provide unique experiences and tastes. These factors have also fueled growth in the global Bahrain alcoholic beverages market.
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As the demand for alcoholic drinks is increasing in this region, it is important to understand various factors contributing in the growth of this market. Therefore, this market research report provides key details about the Bahrain alcoholic beverages market and major factors attributing to its growth. Drivers, restraints, opportunities, and threats are presented in the report in simple manners and its impact on the market are also thoroughly discussed.
Bahrain Alcoholic Beverages Market: Notable Developments
Recent developments taking place in Bahrain alcoholic beverages market are opening various new opportunities for the stakeholders actively participating in this market. Players operating in the Bahrain alcoholic beverages market are actively participating and are indulged in increasing the sales of their products after the economic recovery in this region.
Currently, in the Middle East and North Africa region a significant growth is seen for alcohol, as they region is recovering from property slump. Companies like Diageo PLC brand Johnnie Walker demand has increased in the region and selling has increased off the shelves. Additionally, Smirnoff vodka and Johnnie Walker whisky posted a 16 percent rise in regional net sales previous year, and this growth is expected to increase in the coming years. As the entire region is growing, Bahrain alcoholic beverages market is also expected to rise in the coming years.
Some of the leading players in the global bahrain alcoholic beverages market are:
- Diageo PLC (Diageo)
- BAVARIA N.V.
- Anheuser-Busch InBev (AB InBev)
- Glen Moray
- Carlsberg Group (Carlsberg)
- Heineken N.V.
- Chivas Holdings Ltd.
- Bacardi Global Brands Ltd.
- United Dutch Breweries B.V.
Bahrain Alcoholic Beverages Market: Drivers
- Easy availability of well-known branded beverages providing alcohol at low to premium range along with quick accessibility to alcohol stores have boosted growth in the Bahrain alcoholic beverages market.
- Changing customer taste and preference towards local craft styles having high quality ingredients and different variety of flavors from popular global beer brand has also boosted growth in this market.
- Faster and easy license procedure along with improved infrastructure are projected to increase strengthen internet retailing distribution channel, thus, eventually augmenting growth in the Bahrain alcoholic beverages market
Bahrain Alcoholic Beverages Market: Regional Outlook
In this island, large number of tourist visitors are growing due to which the alcohol consumption is also increasing significantly. Moreover, relaxed rules and regulations related to drinking and socializing have attracted large number of people in the region. Thus, with increased population having inclination towards alcohols is creating favorable conditions for the Bahrain alcoholic beverages market. Various international companies willing to sell alcohol in neighboring countries of Bahrain have established their base in Bahrain due to favorable regulations. Operating cost is also cheaper in the region, which has attracted several international companies. Attributing to all these factors, the Bahrain alcoholic beverages market is expected to witness high growth in the coming years.
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The global Bahrain alcoholic beverages market has been segmented as below:
- Distilled Spirits
- Convenience Stores
- On Premises
- Liquor Stores
- Internet Retailing
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