MENA Nutraceuticals Market expected to expand at robust CAGR of 7.1% due to technological advancements in nutraceuticals manufacturing processes as well as growing demand for natural products

Jul 28, 2015 -- Future Market Insights (FMI), delivers key insights on the Middle East & North Africa (MENA) nutraceuticals market in its latest report titled, “ Nutraceuticals Market: Middle East and North Africa (MENA) Industry Analysis and Opportunity Assessment, 2015 - 2020”. According to the report, the  nutraceuticals market in MENA is expected to register a robust single-digit CAGR of 7.1% during forecast period 2015 - 2020. Nutraceuticals are any products derived from food sources, and which offer extra health benefits besides the basic nutritional values other foods offer.

Assessing the various factors driving market growth, FMI analyst said, “Advancements in product offering is fuelling the demand for nutraceuticals for application in a wide range of products such as medicines and food & beverages.” The analyst added that increasing awareness among consumers in MENA about the benefits of nutraceutical products over conventional medicines is expected to further fuel market growth, which in turn will prompt manufacturers to diversify their product offerings and introduce nutraceutical products to keep up with the demand. 

The MENA nutraceuticals market is segmented on the basis of product type into dietary supplements, functional food and functional beverages. Among these, demand for dietary supplements was most robust, accounting for 37.0% share of the MENA nutraceuticals market in 2014. As per FMI estimates, this segment will register a CAGR of 7.0% during the forecast period. 

Browse Full " Nutraceuticals Market: Middle East and North Africa (MENA) Industry Analysis and Opportunity Assessment, 2015 - 2020" Research Report at http://www.futuremarketinsights.com/reports/details/mena-nutraceuticals-market

The dietary supplement segment is further sub-segmented into vitamin & mineral supplements, herbal supplements and protein supplements, among which, vitamin & mineral supplements and protein supplements collectively accounted for over 75% market share in 2014. FMI estimates that protein supplements will register a CAGR of 6.9% between 2015 and 2020, accounting for US$ 1.15 Bn in terms of revenue in 2014. Functional beverages was the second most lucrative segment after dietary supplements, accounting for over 27.9% share in 2014, which is forecast to increase at a 7.3% CAGR through 2020.

Increasing demand for natural products coupled with technological advancements is expected to fuel demand for nutraceuticals products in the region. In addition, increasing trade liberalization, which has changed the food consumption pattern globally, has enabled numerous nutraceuticals manufacturer and distributors to supply products to various countries in the region. This is one of the major factors driving growth of the nutraceuticals market in MENA region. 

Results of the end-user survey conducted by FMI among leading nutraceuticals distributors/retailers operating in the Middle East & North Africa, with a special focus on GCC, reveals that preference for natural products is a major trend in this region. Hypermarkets/supermarkets emerged the most preferred buying channel for these products, with highest score of 1.8 on the scale of 1 to 4; with 1 being highest and 4 being lowest. This was closely followed by pharmacy/food stores with a rating of 1.9.

For more insights on Middle East and North Africa (MENA) Nutraceuticals Market, you can request a sample report with TOC at http://www.futuremarketinsights.com/reports/sample/rep-ma-681

GCC on the other hand emerged the most lucrative market for nutraceuticals in MENA, accounting for US$ 3.53 Bn in 2014, which FMI estimates will increase at a CAGR of 7.3% to account for US$ 5.32 Bn by 2020. The nutraceuticals market in Rest of Middle East meanwhile was valued at US$ 2.06 Bn in 2014. Market growth in North Africa, the other key region in the MENA nutraceuticals market, is anticipated to expand at a healthy single-digit CAGR over the forecast period.

Key players across the value chain in the MENA nutraceuticals market include BASF SE, Danone, Nestlé SE, Amway, General Mills, Arla Foods and Kellogg’s. Major players operating in the MENA are adopting various strategies such as merger and acquisition and partnership with other companies in order to expand share in the growing nutraceuticals market.



Read the complete story ...


Review Article Be the first to review this article
Featured Video
Jobs
Mechanical Engineer II - Requisition ID 090445 for L3 Technologies at New York, NY
ECAD Designer - Data Connectivity for Delphi at Auburn Hills, MI
Estimator / Bidder for Rulon International at Saint Augustine, FL
Upcoming Events
33rd Annual Coordinate Metrology Society Conference at Snowbird UT - Jul 17 - 21, 2017
EMO Hannover 2017 at Hannover Germany - Sep 18 - 23, 2017
The 30th Annual Integrated Process Excellence Symposium & Training at Wyndham Grand Bonnet Creek Resort Orlando FL - Sep 18 - 20, 2017
Additive Manufacturing Conference 2017 at Knoxville Convention Center 701 Henley Street Knoxville TN - Oct 10 - 12, 2017



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise