MENA Nutraceuticals Market

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2. MENA NUTRACEUTICALS MARKET ANALYSIS MENA Nutraceuticals Market, By Product Type (Dietary Supplement (Vitamin & Mineral Supplement, Herbal Supplement, Protein Supplement), Functional Food (Omega Fatty Acid Fortified Food, Probiotic Fortified Food, Branded Iodized Salt, Branded Wheat Flour), Functional Beverages (Energy Drink, Fruit Juice, Enhanced Water, Health Drink)), and By Region (GCC, North Africa, Rest of Middle East) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

3. Market Overview The MENA nutraceuticals market is projected to surpass US$ 20.0 billion by the end of 2027, in terms of revenue, growing at CAGR of 7.1% during the forecast period (2020 to 2027). Market Dynamics Drivers • Regionally, GCC dominated the global water purifier market in 2019, reporting 42% market share in terms of revenue, followed by North Africa and Rest of the Middle East, respectively.

4. Figure 1. MENA Nutraceuticals Market, Revenue Share (%), By Region, In 2019

5. Market Dynamics Restraints • Weak standards in the MENA nutraceuticals market is a major factor hampering the growth over the forecast period. Moreover, regulations differ from country to country in terms of the definition of nutraceuticals and its inclusion under the food category. Thus, the lack of strict regulations may lead to misuse of claims pointing out health benefits. This expected to hinder the market growth.

6. Market Opportunities • Shifting preference towards on-the-go healthy snacks among consumers of the MENA region is expected to fuel the market growth over the forecast period. For example, Protein bars and functional cookies are gaining traction in the market as a preferred snack option. Frozen yogurt, oats, pasta, and cereal bars are some of the breakfast category food that is expected to lead the market.

7. Figure 2. MENA Lubricants Market – Opportunity Analysis

8. Market Trends • On the basis of product type, dietary supplements dominated the MENA nutraceuticals market in 2019 with around 37% of market share in terms of revenue, followed by functional food and functional beverages, respectively.

9. Few Recent Developments • BASF SA • In May 2019, BASF and Glycosyn signed a partnership agreement for the development and commercialization of human milk oligosaccharides (HMOs) for broad use in dietary supplements, functional nutrition, and medical food. • Competitive Section Key players are operating in the MENA nutraceuticals market are BASF SA, DANONE, Kellogg’s, Arla Foods, Nestle SA, General Mills, and AMWAY Malaysia Holdings Bhd

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