Press Releases
 
Arak Market: Rising Popularity of Arak as Flavored Drink to Boost Market

, 10 January 2019 -- Arak Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024

Prominent players operating in the global arak market include Domaine des Tourelles, Lebanese Fine Wines Ltd., Château Ksara, Haddad Distilleries, Lebanese Fine Wines, Eagle Distilleries Co., and Abi Raad Group, finds Transparency Market Research (TMR). A number of top players are likely to consolidate their partnerships to maintain their stronghold in the market. Several leading companies focused on product innovations are launching exotic flavors, in a move to gain a competitive edge over others, observes TMR. In addition, they are exploring a combination of impactful marketing strategies to help them stay ahead of their rivals.

Request to view Sample Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18968

The global arak market stood at US$20.8 mn in 2016 and is projected to reach a valuation of US$27.6 million by 2024 end. The global market is prognosticated to clock a CAGR of 3.6% during the forecast period of 2016–2024.

Globally, the various distribution channels for the sales of Arak comprise travel retail, supermarket, bar/pub, and liquor shop. Of these, the supermarket segment is expected to rise at a major rate over the assessment period. By the end of 2024, the distribution channel is estimated to hold the dominant share of 66.8% in the global market. The prominence of the channel is attributed to its extensive reach, the availability of a wider range of products, and the provision of in bulk.

Regionally, the Middle and Africa (MEA) accounted for the leading global share of 64.5% in 2016 and is expected to collect attractive revenues over the forecast period. The regional market is led by countries such as Lebanon, Jordan, and Syria. The MEA is trailed by North America.

Rising Popularity of Arak as Flavored Drink among Young ###### to Boost Market

The global arak market is primarily being driven by the steadily rising demand for arak among young ##### populations in developing and developed regions. The widespread popularity of ethnic alcoholic drinks in numerous countries in the Middle East such as Lebanon, Jordan, Israel, Palestine, and Syria is a noteworthy factor propelling the demand for arak. The popular demand for aniseed-flavored spirits across the millennial generation in these countries is bolstering the consumption of arak in major regions.

The rising use of arak as an exotic ingredient in making high-quality cocktails and their substantial demand in restaurants in various countries of Middle East is expected to accentuate the growth of the global market. Intense efforts by arak manufacturers in the region to expand their production capacity in recent years is providing a robust impetus to the growth of the market. Furthermore, considered as a part of ethnic drink, a burgeoning hospitality industry in countries such as Lebanon is a crucial factor offering a robust fillip to the demand for arak.

Persistently Volatile Political Scenario in Middle East Countries Crippling Demand

However, the economic uncertainty precipitated by a persistently volatile political scenario in several countries of the Middle East is a critical factor adversely affecting the growth of the global arak market. The ongoing political tensions in Syria and the chaos caused by civil war are unfavorably impacting the growth. The rise in cost of production and sales of arak is severely hindering the demand in the country.

Nevertheless, the adoption of innovative mix of marketing strategies by manufacturers, coupled with the rise in disposable incomes, is boosting the global arak market. The launch of arak of premium varieties is a noteworthy trend anticipated to significantly catalyze the growth of the market. The vast changes in lifestyle of younger populations and a rapidly emerging hospitality industry in various parts of the MEA are offering a sustained thrust to the demand for arak. Furthermore, the advent of exotic flavors augurs well for the overall market.

Get more Information: https://www.prnewswire.com/news-releases/global-arak-market-is-anticipated-to-be-worth-us276-bn-by-2024-introduction-of-unique-flavors-opens-new-doors-for-players-transparency-market-research-612525493.html

# # #


Submitted by amyjames on Thursday, 10 January 2019 at 3:48 PM
Category: Food & Fashion
 
Related News

Juice Concentrate Market: Trend of Adopting Healthy Lifestyle for Upkeep of Good Health Drives Sales
Tuesday, 26 Mar 2019

Food Hydrocolloids Market Register a Healthy 3.60% CAGR between 2017 & 2025
Tuesday, 26 Mar 2019

Anthocyanins Market: Innovations and Advancements to Encourage Growth
Tuesday, 26 Mar 2019

Soy Protein Market: Rise of Functional Food Sector to Fuel Demand
Tuesday, 26 Mar 2019

North America Yogurt Market: Investments in Emerging Economies to Augur Well
Tuesday, 26 Mar 2019

Related Events

European Food Sure Summit, 13th - 14th May 2019, Amsterdam
Monday, 13 May 2019

Healthplex Expo 2019,Natural & Nutraceutical Products China 2019
Wednesday, 19 Jun 2019

FT Weekend Festival
Saturday, 7 Sep 2019

Latest News

Kingsoft Announces 2018 Annual and Fourth Quarter Results
Wednesday, 27 Mar 2019

Sun Cheong Announces Its First Annual Results after Listing
Wednesday, 27 Mar 2019

Emily Stalder Johnson Encourages Readers to Have Hope
Wednesday, 27 Mar 2019

Oral Anti-diabetes Drugs Market Scope and Opportunities Analysis 2017 - 2025
Wednesday, 27 Mar 2019

Bleeding Disorder Treatment Market Market Growth Opportunities & Technology Developments by 2025
Wednesday, 27 Mar 2019

 
Want to get your press releases, event listings, and job ads on Scoopasia? Register now for a FREE account or login if you already have one!
Scoopasia v1.0b. Copyright © 2019
Today is Wednesday, 27 March 2019

About Scoopasia | FAQ | Privacy Policy | Contact Us

Press Releases
Event Listings
Job Listings
Arts & Entertainment
Architecture & Construction
Automotive & Travel
Business
Consumer Technology
Economy
Education
Enterprise Technology
Food & Fashion
Government & Policy
Health Care & Medical
Legal/Law
News & Media
Religion
Science & Research
Sports & Fitness
Login / Register
Get Scoopasia through RSS Feeds & Email Notifications!


Journalist's Toolbox
Hello journalist, welcome to Scoopasia--a powerful online resource for media information in Asia. Scoopasia has press releases and media events for every beat and industry. All content on Scoopasia is 100% FREE. You don't even need to login!

  • Scoop Line
    (Instant Information Request)
    The easiest way to ask questions and request information from the PR community.


  • Advanced Search
    Drill down, dig deep, for media information the way you want it.

  • Journalist's Resources
    Resources and tools you can't do without.

  • PR Tools
    Scoopasia Blog Search
    Search the largest handpicked collection of Asia's most prominent and influential blogs.


    Resources
  • PR Bookmarks
  • Web 2.0 Bookmarks
  • Media Bookmarks

    More Coming Soon...

  • Upcoming Events
  • Lining Board is an Important Part of Raymond Mill
  • Bacteriophage Therapy Summit
  • MENA New Energy 2019
  • 4th European Congress on Tatoo and Pigment Research
  • 14 International Conference on Alzheimer's and Parkinson's Diseases AD/PD™

  • Latest Jobs
    Sorry, there are currently no entries posted here.