- The key vendors in the Dairy Food Market in GCC Countries 2015-2019 are Almarai Co., Danone SA, Nestlé SA and Saudia Dairy & Food Stuff Co. (SADAFCO).
London, 11 November 2014: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Dairy Food Market in GCC Countries 2015-2019. One major trend in the market is the increase in new product launches in various GCC countries. Vendors are offering high-in-nutrition, calorie-free, organic, and different flavored dairy food products to consumers. The Dairy Food market in GCC Countries is expected to grow at a CAGR of 8.39 percent during the period 2015-2019.
The market is expected to grow rapidly during the forecast period, mainly because of the increased demand for dairy products in the GCC countries, especially for safe, high-quality, and fat-free dairy products. The region is undergoing rapid development because of the rise in the income of consumers, which has led to increased spending on dairy products.
“Vendors are targeting products for different age groups, health problems, taste preferences, and budgets. Some of the popular new dairy product categories launched by vendors are low-fat, lactose-free, organic, and vitamin-enriched,” says Faisal Ghaus, Vice President of TechNavio Research.
“the demand for high-nutrition dairy food products has led to the use of energy boosters and health nutrients in milk products. The vendors are continuously trying to invest in expanding their capacity to develop unique product offerings.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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