openPR Logo
Press release

GCC Functional Food Market to Reach US$ 9.07 Bn by 2020

06-15-2017 11:01 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Future Market Insights (FMI) announces the release of its latest report titled, “GCC Functional Food, Market Opportunity Assessment; 2014 to 2020 Forecast”. According to the report, the GCC functional food market was valued at US$ 4.8 Bn in 2014, and is expected to reach US$ 9.07 Bn by 2020. The GCC functional market is projected to demonstrate a significant CAGR of 10.9% during the forecast period. This growth is attributed to increasing obesity and diabetes rates in the GCC region.

Market Drivers/Restrains

The GCC functional food market is driven by factors such as increasing awareness about health benefits, consumer preference towards health food, change in life-style, wide assortment and visibility of health products. Furthermore, growing population, increasing per capita income, and growing population of expatriate will further drive the GCC functional food market over the forecast period.

Request For Sample@ http://www.futuremarketinsights.com/reports/sample/rep-gb-sa-28

Market Segments

According to the product type, the GCC functional food market is segmented as functional dairy products, cereals, flakes and confectionary, iodinated salt, fortified eggs, fish and meat, and oil and margarine. Cereals, flakes and confectionary segment collectively accounted for US$ 4.89 Bn with 41.7% of the total revenue market in 2014, and are expected to hold 44.8% of the total revenue market by 2020. Furthermore, Arab consumer are more inclined towards carbohydrate rich diet, but gradually they are shifting towards protein rich diet. This shift has led the demand for frozen yogurts among Arab consumers along with fortified cheese and low fat spreads during the forecast period. Henceforth, dairy is another prominent segment in GCC region.

The GCC functional food market is segmented on the basis of end-user such as hypermarket or A-class stores, self-service and B-class chains, consumer co-operatives and groceries, and others (convenience store, discount stores, and food and drug stores). Change in consumer buying pattern from traditional to modern retail formats has improved the consumer ability to buy off-the-shelf products as well as new health food categories. As a result, modern retail formats accounted for over 60% of the total market share in 2012, and this segment is expected to dominate the GCC functional food market by 2020. Others segment accounted for 8.8% of the total market of US$ 4.43 Bn in 2013, and is also expected to contribute significantly to the distribution of GCC functional food market over the forecast period.

Send An Enquiry@ http://www.futuremarketinsights.com/askus/rep-gb-sa-28

By geographies, the GCC functional food market covers six countries include Saudi Arabia, United Arab Emirates (UAE), Oman, Kuwait, Qatar, and Bahrain. Among all the countries, Saudi Arabia and UAE together accounted for US$ 3.3 Bn with more than 75% of the total revenue market in 2013, and are projected to dominate the market over the next five years. Moreover, UAE is the largest market for new product launch as 80% of the food is being imported in GCC. Government support in terms of providing subsidies to fortified food manufacturers is another factor which will drive the GCC functional food market in the near future. The growing adoption rate of health and fortified food is higher in regions such as UAE, Qatar, and Kuwait. As a result, Kuwait is expected to exhibit a fastest CAGR of 12.2% during the forecast period, followed by Qatar.

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

CONTACT:
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Press: press@futuremarketinsights.com
Website: www.futuremarketinsights.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release GCC Functional Food Market to Reach US$ 9.07 Bn by 2020 here

News-ID: 579718 • Views:

More Releases from Future Market Insights

Global Lithium Ion Battery Separator Market Projected to Reach US$ 3,256.7 Million by 2032
Global Lithium Ion Battery Separator Market Projected to Reach US$ 3,256.7 Milli …
The lithium-ion battery separator is a critical component in lithium-ion batteries, responsible for preventing short circuits and ensuring safe and efficient battery performance. It acts as a physical barrier between the positive and negative electrodes, allowing lithium ions to pass through while blocking the flow of electrons. With advancements in separator technology, these separators play a key role in enhancing battery capacity, cycle life, and overall safety in various applications,
Industrial Drums Market on a Trajectory to Reach US$ 17.6 Billion by 2027, Bolstered by a Robust 7.1% CAGR from 2022
Industrial Drums Market on a Trajectory to Reach US$ 17.6 Billion by 2027, Bolst …
The Industrial Drums Market is experiencing a steady and promising trajectory, with an estimated value of US$ 12.5 billion in 2022, projected to escalate to US$ 17.6 billion by 2027 at a commendable Compound Annual Growth Rate (CAGR) of 7.1%. This growth is substantiated by a 6.6% CAGR in volume during 2022-27, as per Future Market Insights. Anticipated to expand 1.5 times within this period, the market presents alluring prospects for industry
Supermarkets, Convenience Stores, and Eco-friendly Choices Fuel the Expansion of the Metal Cans Industry, Catering to Health-conscious and Environmentally-aware Consumers
Supermarkets, Convenience Stores, and Eco-friendly Choices Fuel the Expansion of …
The metal cans market is predicted to grow at a CAGR of 5% over the forecast period, according to research by Future Market Insights. The industry's estimated value is expected to increase from US$ 56 Bn in 2023 to US$ 91.1 Bn by 2033. The market for metal cans has been driven by the heightened demand for the product in food and beverages industry. Metal cans helps prolong shelf-life of perishable
Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 with a 4.8% CAGR
Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 …
The folding intermediate bulk containers (IBCs) market is on a growth trajectory, with an estimated value of US$ 418 million in 2022, projected to reach US$ 528 million by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 4.8%. Remarkably, the China folding IBCs market defied initial pandemic-related skepticism and is anticipated to grow by 6.9% year on year in 2022. Despite global challenges, China's folding IBCs market is poised to contribute

All 5 Releases


More Releases for GCC

GCC Contact Lens Market Size, Growth Opportunities, Statistics, Market Scope, Tr …
The GCC Contact Lens Market Report provides a thorough study of the competitive landscape, market participants, geographical regions, and application areas. In order to comprehend future demand and industry prognosis, the research includes a complete assessment of growth variables, market definitions, manufacturers, market potential, and influential trends. The research also contains a comprehensive analysis of the market, taking into account key growth-influencing elements. The study gives a detailed breakdown of important
GCC Connected Medical Devices Market Size, Growth Opportunities, Statistics, Mar …
The research report GCC Connected Medical Devices Market Analysis, 2027 published by MarkNtel Advisors is a comprehensive study of the industry's historical, current, & forecasted trends, prepared after rigorously analyzing aspects like growth drivers, restraints, opportunities, challenges, & demand scenarios in order to help stakeholders make informed decisions while investing in the Market, i.e., projected to witness around 20.19% CAGR during 2022-27. The report comprises detail-driven data associated with the current
GCC Digital Signage Market-(2017-2023)
Market Forecast By Components (Display Screens, Content Players and Software), By Display Screen Types (Single Screen, Video Wall or Multi Screen and Digital Signage Kiosk), By Display Screen Technologies (LED, OLED and QLED), By Display Screen Size (Below 40", 40"-55" and Above 55"), By End User Applications (Government & Transportation, Retail, Healthcare & Hospitality, Education, Entertainment, Banks & Financial Institutions and Commercial Offices & Buildings), By Countries (Saudi Arabia, Bahrain
Changing Dynamics of GCC Fertilizer Industry
Market Insights The changing dynamics of the GCC Fertilizers Market include rising population, falling commodity prices globally, and intense competition from abroad. In 2016, GCC fertilizer sales declined by 21%, to USD 5.2 billion. The same scenario was noted in 2015, wherein, the sales revenue dropped by 10%. The report provides a detailed analysis of the GCC fertilizer market, which is broadly segmented based on type and geography. Based on the type,
GCC Digital Signage Market (2017-2023)-6Wresearch
GCC Digital Signage Market (2017-2023): Market Forecast By Components (Display Screens, Content Players and Software), By Display Screen Types (Single Screen, Video Wall or Multi Screen and Digital Signage Kiosk), By Display Screen Technologies (LED, OLED and QLED), By Display Screen Size (Below 40”, 40”-55” and Above 55”), By End User Applications (Government & Transportation, Retail, Healthcare & Hospitality, Education, Entertainment, Banks & Financial Institutions and Commercial Offices & Buildings), By
GCC Renewable Energy Sector Opportunity Analysis
The world’s largest producer of oil and gas is finding it increasingly difficult to suffice its own needs. An unprecedented increase in population and growth in industrial and economic activity has triggered newfound interest in renewable energy development for six major Middle Eastern economies. Saudi Arabia, UAE, Kuwait, Qatar, Bahrain and Oman, together knows as the Gulf Cooperation Council, have turned their focus towards the exploitation of renewable sources of