GCC: Gin And Geneva Market 2024

Gin And Geneva Market Size in GCC

In 2022, after five years of growth, there was decline in the GCC gin and geneva market, when its value decreased by -1.8% to $X. Overall, consumption, however, enjoyed resilient growth. Over the period under review, the market attained the peak level at $X in 2021, and then reduced modestly in the following year.

Gin And Geneva Production in GCC

In value terms, gin and geneva production rose modestly to $X in 2022 estimated in export price. Overall, production posted a buoyant increase. The pace of growth appeared the most rapid in 2014 when the production volume increased by 74% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Gin And Geneva Exports

Exports in GCC

In 2022, shipments abroad of gin and geneva decreased by -10.5% to X litres, falling for the fourth consecutive year after two years of growth. Over the period under review, exports faced a deep contraction. The most prominent rate of growth was recorded in 2015 with an increase of 49% against the previous year. Over the period under review, the exports hit record highs at X litres in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, gin and geneva exports totaled $X in 2022. Overall, exports saw a drastic downturn. The pace of growth was the most pronounced in 2018 with an increase of 45% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from the United Arab Emirates (X litres), together resulting at 99% of total export.

The United Arab Emirates was also the fastest-growing in terms of the gin and geneva exports, with a CAGR of -10.1% from 2012 to 2022. The United Arab Emirates (+8.1 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest gin and geneva supplier in GCC.

In the United Arab Emirates, gin and geneva exports declined by an average annual rate of -6.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per litre, increasing by 20% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2018 an increase of 31%. Over the period under review, the export prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to +3.9% per year.

Gin And Geneva Imports

Imports in GCC

Gin and geneva imports shrank to X litres in 2022, which is down by -14.5% against the previous year. Total imports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +35.9% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 59% against the previous year. The volume of import peaked at X litres in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, gin and geneva imports fell notably to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 81% against the previous year. As a result, imports attained the peak of $X, and then shrank sharply in the following year.

Imports by Country

The United Arab Emirates prevails in imports structure, finishing at X litres, which was approx. 85% of total imports in 2022. It was distantly followed by Qatar (X litres), committing a 7.1% share of total imports. Oman (X litres), Bahrain (X litres) and Saudi Arabia (X litres) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to gin and geneva imports into the United Arab Emirates stood at +3.4%. At the same time, Saudi Arabia (+17.2%), Qatar (+14.2%), Oman (+8.8%) and Bahrain (+3.5%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in GCC, with a CAGR of +17.2% from 2012-2022. Qatar (+4.3 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -6.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported gin and geneva in GCC, comprising 85% of total imports. The second position in the ranking was taken by Qatar ($X), with a 7.9% share of total imports. It was followed by Bahrain, with a 2.4% share.

In the United Arab Emirates, gin and geneva imports expanded at an average annual rate of +5.1% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+16.2% per year) and Bahrain (+8.0% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per litre, reducing by -3.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2013 when the import price increased by 43%. As a result, import price attained the peak level of $X per litre. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per litre), while Oman ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform