London, 01 December 2014 – The Packaged Food Market in the GCC is expected to post a CAGR of 7.38 percent from 2015-2019 thanks to increasing populations in countries like Saudi Arabia, says research firm TechNavio.
A rise in disposable income and better living standards in most of the GCC countries has significantly contributed to the growth of the food and beverage industry. Additionally, the growing influence of western food habits among local residents has increased the demand for packaged food products in GCC countries.
About the Report
The new report from TechNavio highlights higher proliferation of media channels in the area. There has been an increase in the population of media savvy, educated young people who have been exposed to various media like TV, internet and social media.
“Exposure to information about products, brands and the benefits of packaged food have influenced the younger population, and increased consumption of packaged food among this demographic,” says Faisal Ghaus, Vice President of TechNavio.
“Many food packaging companies are also expanding their presence through various media channels, especially social media like Facebook and Twitter, so as to reach consumers in GCC countries.”
Furthermore, new packaging solutions are also expected to help the Packaged Food Market in GCC thrive during the forecast period.
Key Information Covered in the Report:
Market segmentation, size and forecast through 2019
Market Growth Drivers:
- Increase in Population
- For a full detailed list, view our report.
Market Challenges:
- Inflation in Saudi Arabia
- For a full detailed list, view our report.
Market Trends:
- Increased Proliferation of Media Channels
- For a full detailed list, view our report.
Key Vendors:
- Almarai Co. Ltd.
- Danone
- Nestlé SA
Other Prominent Vendors:
- Abbott
- Fonterra
- Fromageries
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
