Market Size of Middle East & Africa Wine Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 3.32 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East Africa Wine Market Analysis
The Middle East & Africa Wine Market is projected to register a CAGR of 3.32% during the forecast period, 2022-2027.
The pandemic has disrupted the global wine distribution channel due to the restrictions on hotels and restaurants worldwide. While the wine industry received permission to complete the wine grape harvest in 2020, South Africa's lockdown on local and international sales had far-reaching repercussions for the financial viability of businesses in the supply chain. According to a report by Wine International Association, in 2020, the South African wine industry lost around R450 million a week in local retail and international sales. Many farms also lost out on agritourism opportunities. With the assistance of the Bureau for Food and Agricultural Policy (BFAP), the industry estimated that an approximately 40% decrease in export value, around R9 billion, was observed during the prolonged lockdown.
Over the medium term, the wine market has witnessed significant growth, owing to the increasing demand for wine beverages with unique and refreshing flavors. Moreover, the increasing inclination toward premium white wine beverages is estimated to boost the wine market in the coming years.
The consumption of alcohol is becoming a sign of social status, supporting the growth of low-alcoholic or non-alcoholic wine in the market. It is gaining massive popularity among millennials and youngsters, owing to its claim of refreshment and low ABV offerings. It is associated chiefly with several occasions and served as a table wine with regular food in developing countries. This increasing demand further encourages manufacturers to launch and introduce innovative products in the market, indicating future market growth.
