(Entertainment-NewsWire.com, September 03, 2018 ) In the year 2018, 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.
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.
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.
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.
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