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Global Arak Market to Boom USD 26.64 billion Value by 2023

Arak Market - Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts 2018-2023
Sandeep Krishna | 30.10.2018
© Sandeep Krishna
Global Arak Market Overview:

Arak is a Levantine alcoholic drink which is clear, colorless, unsweetened distilled alcoholic drink with anise flavor. Arak is a traditional alcoholic drink in Iraq, Iran, Jordan, Lebanon, and Syria. Arak is typically made from grapes grown in Mediterranean climates besides sugarcane, raisins, and dates may also be used. Arak is mixed with a ratio of 1/3 arak to 2/3 water in a Levantine vessel called a barik, and then poured into small, ice-filled cups.

Global Arak Market Size:

According to Market Data Forecast, The Global Arak Market was valued at USD 22.32 Billion. By the year 2023, it is expected to reach USD 26.64 Billion at pace of 3.6% CAGR.

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Underlying Causes

The growth for Arak market is driven due to factors like growing demand for arak across the globe, increasing usage of arak as an ingredient in Cocktails, rising disposable incomes, rapid urbanization. However, stringent government policies, rising health issues, and increasing consumption of other alcoholic beverages are affecting the growth rate for Arak Market during the forecast period.

Geographic Segmentation:

Based on geography the Arak market has been primarily divided into Asia Pacific, Middle East and Africa, North America and Latin America. Middle East and Africa holds the largest market share in the global arak market as it is the traditional drink and presence of major market players are the driving factor in this region. Asia-Pacific is rapidly growing due to rapid urbanization and rising disposable incomes which is expected to witness high growth rate for Arak Market during the forecast period.

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Key Players:

Leading companies for Global Arak market are Abi Raad Group Sarl, Kawar Arak, Lebanese Fine Wines, Haddad Distilleries, Eagle Distilleries, Chateau Ksara, Lebanese Arak Corporation and Domaine des Tourelles.

Scope of the report

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategical activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided. The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

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