Global Arak Market
Global Arak Market: By Source (Merwah Grapes, Anise Seeds, and Others), By Distribution Channel (Liquor Shop, Bars and Pubs, Travel Retail, and Others), and Geography - Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global Arak Market Was Valued At US$ XX Mn In 2017 And Expected To Grow Around 4.0% Compound Annual Growth Rate (CAGR) Over 2018 To 2024
Market Outline: Global Arak Market
Arak is a Levantine alcoholic spirit in the anise drinks family. Arak is a colorless, clear, unsweetened distilled alcoholic drink with anise flavor. Arak Saggi, a Persian version of arak does not contain the anise, and produced from sugarcane, raisins, and dates. It is a traditional alcoholic beverage in Iraq, Iran, Jordan, Lebanon, and Syria.
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Market Dynamics: Global Arak Market
Increase in the arak popularity among younger individuals coupled with rise in adoption of arak in cocktails are expected to drive the growth of arak market. Moreover, increase in the production of arak by the market players, rise in number of restaurants, pubs, and bars around the globe, launch of innovative arak products with different flavors, and change in lifestyle are anticipated to fuel the global arak market over the forecast years. However, high production cost and selling prices, poor regulatory norms for the production of arak, and volatile political climate in Middle East countries such as Syria leads to increase in cost of raw materials, which may hinder the growth of arak market.
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Market Scope: Global Arak Market
Global arak market is segmented based on source and distribution channel
Based on the source, the market is segmented into the following:
• Merwah Grapes
• Anise Seeds
• Others
Based on the distribution channel, market is segmented into the following:
• Liquor Shop
• Bars and Pubs
• Travel Retail
• Others
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Regional Analysis: Global Arak Market
Geographically, global arak market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America arak market is poised to grow due to rise in the consumption of alcoholic beverages in U.S., rise in disposable income, and change in lifestyle. Europe arak market has a lucrative growth, which is attributed to entry of market players into Europe region, manufacturing of cocktails by using arak as a key ingredient, and increase in the number of distribution channels are expected to bolster the growth of market. Asia Pacific arak market has a prominent share due to rise in population preferring alcohol majorly in India and China, high adoption of western culture, and rise number of bars and pubs in the region.
Competition Assessment: Global Arak Market
Some of the players in the global arak market include:
• Abi Raad Group Sarl (Lebanon)
• Chateau Ksara (Lebanon)
• Domaine des Tourelles (Lebanon)
• Eagle Distilleries Co (Jordan)
• Haddad Distilleries (Jordan)
• Lebanese Arak Corporation (U.S.)
• Lebanese Fine Wines (U.K.)
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