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Global Bulgur Market Growth in the Coming Years
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Global Bulgur Market: Forecast Analysis
The research study on global bulgur market is expected to witness expansion at a moderate scale in the years to come. The global market is estimated at about US$ 993 Mn in 2017 and is anticipated to reach a valuation of more than US$ 1 Bn by the end of the period of assessment. The global market is projected to register a moderate CAGR of 4.1% throughout the period of forecast.
Global Bulgur Market: Dynamics
Numerous factors are responsible for the growth of the global market. Factors such as increasing health concerns among population worldwide, increasing preference for Mediterranean cuisines and dishes, changing consumer preferences and tastes, changing consumer lifestyle and rising popularity of healthy food, rising consumer preference for bulgur products, growing online retail distribution channel, and increasing purchasing power of middle class is pushing the growth of the global market for bulgur. Aspects such as declining demand for wheat and wheat products, slow penetration of bulgur in several regions, less awareness about usage of bulgur in different dishes and overall less awareness among people are posing restraints to the growth of the global bulgur market.
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Global Bulgur Market: Segmental Highlights
The global bulgur market is segmented by nature, by distribution channel, by product type, by end use and by region.
By nature, the conventional segment is expected to be the largest in terms of value share and is estimated to reach US$ 1.3 Bn by end of 2025. The organic segment is poised to show a higher pace in the coming years to register a CAGR of 5.6% during 2017-2025
By product type, the fine bulgur segment is the fastest growing segment to reflect a value CAGR of 4.8% throughout the period of forecast. The whole/coarse bulgur segment is expected to be the largest by value share and is likely to dominate the global market
By end use, the household segment is highly favorable for the growth of the global market. It is the fastest growing and a leading segment portraying an estimation of about US$ 1.2 Bn by the end of 2025
By region, Europe reflects high potential in the coming years. The bulgur market in Europe is projected to grow at a high CAGR of 4.8% during the forecast period. The Middle East and Africa region is expected to be the most lucrative segment and the market in MEA is estimated to reach US$ 857.6 Mn growing at a CAGR of 4.3% during 2017-2025
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