GCC: Wine Market 2024

Wine Market Size in GCC

The GCC wine market rose significantly to $X in 2022, growing by X% against the previous year. The total consumption indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Wine Production in GCC

In value terms, wine production expanded notably to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Wine Exports

Exports in GCC

In 2022, exports of wine and grape must in GCC skyrocketed to X litres, jumping by X% on the previous year. Overall, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, wine exports surged to $X in 2022. Over the period under review, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates (X litres) represented roughly X% of total exports in 2022.

The United Arab Emirates was also the fastest-growing in terms of the wine and grape must exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

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

In the United Arab Emirates, wine exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per litre, rising by X% against the previous year. In general, the export price posted notable growth. The growth pace was the most rapid in 2019 when the export price increased by X%. As a result, the export price reached the peak level of $X per litre. From 2020 to 2022, the export prices failed to regain momentum.

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 X% per year.

Wine Imports

Imports in GCC

In 2022, approx. X litres of wine and grape must were imported in GCC; jumping by X% against the year before. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports hit record highs at X litres in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, wine imports skyrocketed to $X in 2022. Overall, imports saw a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

The United Arab Emirates dominates imports structure, reaching X litres, which was approx. X% of total imports in 2022. It was distantly followed by Qatar (X litres), making up a X% share of total imports. The following importers - Bahrain (X litres), Saudi Arabia (X litres) and Oman (X litres) - each amounted to an X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to wine imports into the United Arab Emirates stood at X%. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. Bahrain and Saudi Arabia experienced a relatively flat trend pattern. By contrast, Qatar (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by X% 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 ($X) constitutes the largest market for imported wine and grape must in GCC, comprising X% of total imports. The second position in the ranking was held by Qatar ($X), with a X% share of total imports. It was followed by Bahrain, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. In the other countries, the average annual rates were as follows: Qatar (X% per year) and Bahrain (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per litre, increasing by X% against the previous year. Overall, the import price recorded a buoyant increase. The growth pace was the most rapid in 2018 an increase of X%. Over the period under review, import prices reached the maximum in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per litre), while Saudi Arabia ($X per litre) was amongst the lowest.

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

Source: IndexBox Platform