Booming e-commerce industry and expansion of other distribution channels are providing wide growth opportunities for Bahrain retail market.
Booming e-commerce industry and expansion of other distribution channels are providing wide growth opportunities for Bahrain retail market.
According to TechSci Research report, “Bahrain Retail Market By Type (Store-Based Retailing (By Format, By Grocery Retailing Format, By Non-Grocery Retailing Format ) v/s Non Store Retailing(By Format)), By Company, By Region, Forecast & Opportunities, 2025”, Bahrain retail market was valued USD 5.80 Billion in 2019 and is predicted to grow at a CAGR of 15.62% in the next five years, to reach USD 10 Billion by 2025. Anticipated growth in the market can be attributed to increasing presence of global retail brands and rising disposable income of the people. Moreover, the boom in e-commerce industry has provided wide growth opportunities for retailers in Bahrain owing to shifting consumer preference to shop online. The recovering economy of the country and higher standard of living for middle-class families are also driving growth of the retail industry in Bahrain. Stringent policies and initiatives introduced by government to support the retail sector in Bahrain are anticipated to further propel the market growth through 2025.
Flourishing tourism industry is expected to provide lucrative growth opportunities for Bahrain retail market in coming years. For instance, Bahrain concerned authorities organizes annual shopping festival called ‘Shop Bahrain’ which is a major attraction for foreign tourists. The development of retail infrastructure equipped with recreational facilities is also supporting the growth of Bahrain retail market. Also, Bahrain is witnessing increasing preference of consumer spending on food, clothing, footwear, and alcoholic drinks which indicates growth of overall retail sector.
However, the outbreak of COVID-19 and implementation of lockdown is likely to impact the retail industry as shopping centers and all other shopping complexes were closed to curtail the spread of the novel coronavirus.
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Bahrain retail market can be segmented based on type, company, and region. Based on type, the market is categorized into store-based retailing v/s non store retailing market. grocery retailing format is further segmented into hypermarkets/supermarkets, convenience stores, forecourt retailers, food/drink/tobacco retailers and other traditional grocery retailers. Hypermarket and supermarket accounted for the largest segment in 2019 and the trend is likely to continue through 2025.
Growing e-commerce distribution channels and generating significant revenues from them coupled with enhanced operational efficiency by the retailers will benefit the retail companies in the forecast period.
Major players operating in the Bahrain retail market are BMMI Group, Ali-Rashid Al-Amin Co, Majid Al Futtaim Group, Lulu Group International, Jawad Business Group, HHM Group, Aljazira group, Fucom International WLL, Almeer Group, Alshaya Group. Key growth strategies being adopted by leading market players are mergers & acquisitions, partnerships, and collaborations. Moreover, companies are also investing on boosting the supply chain and are opening new stores to cater to larger population.
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“Most significant region in terms of market size in the Bahrain retail market in 2019 was Northern Governorate, followed by Muharraq Governorate. The market size of Northern Governorate stood at USD 2.42 USD billion, whereas that of Muharraq Governorate was valued at around USD 1.51 billion in 2019. Northern Governorate is expected to witness further increase in its market share over the forecast period due to increasing population and improving lifestyle standards.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Bahrain management consulting firm.
“Bahrain Retail By Type (Store-Based Retailing (By Format, By Grocery Retailing Format, By Non-Grocery Retailing Format ) v/s Non Store Retailing(By Format)), By Company, By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of retail market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Bahrain retail market.
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