The report minutely analyzed all the functional food segments in each country with respect to both suppliers and consumers. The cereals, flakes & confectionery segment is expected to witness significant contribution to the overall GCC functional food market, by registering a robust growth of nearly 11% by 2020. The market is segmented by type and by distribution channels of functional food as well as by countries.
Aggressive marketing by manufacturers, growing health issues, widening the span of distribution channels and Inclination towards novel and processed food varieties are some of the major drivers of the functional food market growth in GCC. Increasing awareness of health food among consumers and government support for fortified foods has attracted many retailers and multi-national companies towards the health food category across GCC. The purchasing power of consumers is as high as to that of some of the developed countries of the U.S, and the Europe which makes GCC a hot spot for various new entrants too.
In terms of absolute increment, Saudi Arabia represents the largest market followed by UAE (United Arab Emirates) due to its size, wherein Kuwait is expected to grow at the highest CAGR closely followed by Qatar& Bahrain.
In this study, we analyze the GCC Functional Food Market during 2014-2020. We focus on:
Market size and forecast, 2013-2020
Detailed market trends and forecast of categories such as cereals, flakes & confectionary, dairy products, iodinated salt, fortified egg & meat and oil/margarine
Key drivers and developments in functional foods
Detailed analysis of distribution channels for functional food such as Hypermarket or A-class stores, Self-service & B-class chains, Consumer co-operatives & groceries and others (convenience stores, discount stores, and food & drug stores).
Key drivers and developments in countries namely Saudi Arabia, United Arab Emirates (UAE), Oman, Kuwait, Qatar and Bahrain