GCC Functional Food Market: The revenue generated from the sales of functional foods in GCC countries is estimated to be around USD 30.9 Billion by 2032, and is projected to expand at a CAGR of 11% during the forecast period 2022-2032.
The market for functional foods in the Gulf Cooperation Council (GCC) nations—Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman, and Bahrain—is referred to as the GCC Functional Food Market. Products like fortified foods, probiotics, prebiotics, dietary fibers, and functional beverages are examples of functional foods items that offer health advantages beyond simple nourishment.
Overview of the Market
Growing health consciousness, lifestyle diseases, and a move toward preventative healthcare have all contributed to the GCC functional food market’s recent explosive rise. Foods that improve heart health, digestion, immunity, and weight control are in high demand among consumers in the area.
Functional food products, which enhance health, are typically advocated as alternatives to traditional medication. However, one of the major challenges is the formulation of functional food in traditional food and beverages. Moreover, consumers are seeking more variety in functional food products apart from traditional options. These challenges have resulted in the introduction of innovative new functional food products to ensure ingredient viability and stability.
Due to the preference for functional food, retail chains are coming up with new variants of functional food products especially in cereals and dairy products. Leading brands are continuously gaining traction by launching a wide range of functional food products, thus creating a long-term growth opportunity all over the region. Moreover, the growing cost of healthcare products has influenced consumers to adopt preventive measures. These factors are supporting the demand for functional foods in GCC countries.
Key Players in GCC Functional Food Market
Almarai, Danone, AL Rawaby Dairy, Pinar, Anchor, Kraft Foods, IFFCO, Nestlé, Oman Flour Mills Company, The Modern Flour Mills and Macaroni Factories, Al Ghurair Foods, Alyasra Foods, AL Jazira Poultry Farm LLC NEZO,ZAD INDUSTRIES & TRADING CO and Savola Foods.
Key Segment
On the basis of product type
- functional dairy products
- cereals, flakes & confectioneries
- iodised salt
- fortified eggs
- fish & meat
- oil & margarine
By distribution channel
- hypermarkets/A-class stores
- self-service & B-class chains
- consumer cooperative & groceries
- others
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