About GCC Functional Food
Functional Food comprise of all those food products which provide additive health benefits other than its existing nutrients benefit. The functional foods can be categorised under bakery, cereals, meat, oils, soy products and others. The drivers of this food are majorly driven by rising disposable incomes, changing life styles and increasing tendency among the masses to consume health beneficiary food which was stimulated by recent pandemic. E-Commerce and Grocery Delivery Platforms are expected to grow in popularity and account for largest distributional channel network in the coming few years. Meat Products remain as the dominant segment in products section, which is expected to remain the same.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 8.2% |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Almarai Company (Saudi Arabia), Alyasra Foods (Kuwait), Kraft Foods (United States), AL Rawaby Dairy (United Arab Emirates), Oman Flour Mills Company (Oman), Nestlé S.A. (Switzerland), Danone S.A. (France), Al Ain Farms (United Arab Emirates), Al Ghurair Foods (United Arab Emirates) and Del Monte Foods, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Al Jazira Poultry Farm LLC (United Arab Emirates), The Modern Flour Mills and Macaroni Factories Co. (Jordan) and A'Saffa Foods S.A.O.G. (Oman).
Segmentation Overview
AMA Research has segmented the market of Global GCC Functional Food market by Type (Bakery & Cereals, Dairy Products, Meat, Fish & Eggs, Soy Products, Fats & Oils and Others), Application (Clinical Nutrition, Sports Nutrition, Digestive Health, Weight Management, Immunity and Others) and Region.
On the basis of geography, the market of GCC Functional Food has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online {E-Commerce Stores} will boost the GCC Functional Food market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Ingredients , the sub-segment i.e. Probiotics will boost the GCC Functional Food market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Packaging , the sub-segment i.e. Packets and Pouches will boost the GCC Functional Food market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Consciousness about Health Stimulated by Recent Pandemic
Market Growth Drivers:
Increasing Disposable Income of Individuals and Rising Food and Beverage Industrial Infrastructure
Challenges:
Increasing Incidents of Adulteration
Restraints:
Presence of Large Number of Players
Opportunities:
Innovation in Food Products to Attain a Competitive Edge
Market Leaders and their expansionary development strategies
In 2020, Al Ain Farms, One of UAE’s first dairy companies, is the first dairy company in the region to launch 1 litre milk through glass container. The milk is stated to be fresh and available both in low fat and full fat. The move is said to help sustainability cause, as glass bottles can be reused and refilled. While, other majority of dairy products will continue to rolled out in plastic packaging.
The GCC Ministerial Committee for Food Safety recognized the importance of collective coordination and the establishment of joint laws and regulations in food safety. The Guide for the Control of Imported Food is important because it is part of efforts to consolidate and facilitate the import and complete inspections on consignments of imported food procedures, depending on the degree of health risk and without prejudice to Member States' obligations under WTO agreements and compatible with international best practices in this area.
Key Target Audience
GCC Functional Food Producers, Suppliers and Distributors, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.