Opportunities for wine in UAE continue to climb

Published 2024년 11월 1일

Tridge summary

The UAE has made its first entry into the top 10 wine markets globally, according to IWSR's Compass model, coming in at number five in 2024. This entry highlights the growing wine market in the region, driven by the tourism industry's expansion and a shift towards premium on-trade drinking habits. The presence of Western expatriates and rising per capita consumption further contribute to the market's attractiveness. The top 10 markets include the US, Canada, Switzerland, Norway, Denmark, Australia, South Korea, Sweden, and the UK, with the US leading in still wine opportunities. However, Western Europe is experiencing a decline due to high inflation and living costs, while Asia Pacific markets, such as South Korea, are facing challenges like rising costs of living and regulatory changes that are affecting the wine market.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The United Arab Emirates (UAE) has made a surprise first-time entry into IWSR’s top 10 wine markets based on attractiveness rankings. The UAE remains a market largely dominated by beer and spirits, but opportunities for wine are on the rise. Wine consumption across the region has risen as the tourism industry grows and on-trade drinking habits shift. In the on-trade, restaurants are stocking wider varieties of fine wine offerings, driving high value growth and opportunities for premium products in the market, IWSR has found. The continued influx of Western expatriates to the region has also contributed to rising per capita consumption, and the region has ranked in IWSR’s top 10 markets according to attractiveness for the first time in 2024. The United Arab Emirates is a federation of seven emirates, with Abu Dhabi as its capital, located in the Western Asia on the Eastern Coast of the Arabian Peninsula. The seven emirates are: Abu Dhabi, Dubai, Sharjah, Ajman, Umm Al Quwain, Ras ...

Source: Thedrinkbusiness