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GCC Functional Food Market By product (functional dairy products,
cereals, flakes & confectioneries, iodised salt), distribution channel
(hypermarkets/A-class stores, self-service & B-class chains, consumer
cooperative & groceries) & Region Forecast to 2014 - 2020
Functional Food Market - Analysis, Outlook, Growth, Trends, Forecasts
December 2014 | REP-GB-SA-28 |
57 pages
|
Food and
Beverage
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GCC Functional Food Market: The revenue
generated from the sales of functional foods
in GCC countries is estimated to be around
US$ 4,895 Mn in 2014, and is projected to
expand at a CAGR of 10.9% during the
forecast period 2015-2020.
Considering the trends in a span of the past few years, the
Middle East nutraceuticals industry is expected to grow at a
significant rate. The market for dietary supplements is attaining
relative maturity as compared to the market for functional food,
thus there is a high potential for the growth of functional food
products, which can be attributed to healthcare spending and
self-medication.
These factors have resulted in a shift in consumer preference
towards the consumption of essential nutrients to remain
healthy and avoid medical expenses. The market for GCC
functional food is expected to witness high demand in specific
countries, such as the UAE and Saudi Arabia, whereas, other
countries of GCC are likely to witness low demand.
Functional foods are nutritive foods that deliver additional
benefits over and above their basic nutritional value. Functional
food encompasses a large variety of food items, such as omega
3 fatty acid-fortified eggs, stanol/sterol-enriched low-
fat spreads, probiotic yogurt and protein breads, which can be
consumed daily.
GCC functional food market demand i