Middle East & Africa Alcoholic Beverage Market Size

MEA Alcoholic Beverages Market Analysis

The Middle East & Africa Alcoholic Beverage Market size is estimated at USD 135.16 billion in 2024, and is expected to reach USD 227.38 billion by 2029, growing at a CAGR of 10.97% during the forecast period (2024-2029).

• The sales of alcoholic beverages are increasing due to the rising socializing trend worldwide. Additionally, it is projected that the popularity of pubs, taverns, and restaurants during the forecast period will further boost market expansion. The growth of the Middle East and African alcoholic beverage market is likely to be driven by the increased consumption of alcohol across the young adult demographics in the near future.
• Additionally, the increasing demand for premium alcoholic beverages and curiosity among consumers, specifically among millennials, is pushing them to try alcoholic products. This is expected to positively impact the growth of the alcoholic beverage industry in the region. However, strict restrictions, increased taxes, and tariffs imposed by the Middle East and African governments are expected to slow the growth in the region.
• The growing preference for non-alcoholic beverages is also impeding industry expansion. To boost sales, major players are currently concentrating on releasing cordials and alcoholic drinks with lower alcohol content. They are also analyzing Internet retailing from the e-commerce platform to capitalize on the rising demand for value-added complex seltzer products at competitive prices. Such innovations are projected to increase product commercial possibility, which can subsequently spur market expansion.