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.
People have become more fitness and health conscious, and prefer to spend more on food or other products that promote or improve health for better future living conditions. Improved living standards have resulted in a rise in consumer spending on health- and fitness-related products. Consumers in the GCC countries have started becoming more interested in understanding the role of functional food and the part that it plays in preventing and reducing the impact of diseases. Therefore, more consumers are purchasing functional food & beverages, not only to treat health problems such as joint pain, bone health and general well-being, but also to prevent illnesses such as heart diseases and others.
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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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Frequently Asked Questions
What is the Growth Outlook of the GCC Functional Food Market?
The GCC functional food market is projected to have a CAGR of 10.9% through 2032.
What is the GCC Functional Food Market Size by 2032?
The GCC functional food market size is anticipated to be US$ 30.9 billion through 2032.
What is the Current Valuation of the GCC Functional Food Market?
The GCC functional food market is likely to record a value of US$ 9.9 Bn in 2022.
What Drives the GCC Functional Food Market?
Government spending on healthcare drives the demand for the GCC functional food.
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