Richmond, Feb. 28, 2024 (GLOBE NEWSWIRE) -- According to MarketDigits, the Middle East Functional Foods market was valued USD 12.4 Billion in 2023 and projected to reach USD 21.4 Billion by 2030, growing at a CAGR of 8.2% during the forecast period of 2023-2030.
The Middle East functional food market is witnessing rapid growth driven by increasing consumer awareness of health and wellness, coupled with changing dietary preferences and lifestyles across the region. Functional foods, which offer additional health benefits beyond basic nutrition, are gaining popularity among health-conscious consumers seeking convenient and nutritious food options. Key factors contributing to the growth of the Middle East functional food market include rising disposable incomes, urbanization, and a growing emphasis on preventive healthcare. Consumers in the region are increasingly prioritizing health and wellness, leading to a higher demand for functional foods fortified with vitamins, minerals, and bioactive compounds.
The market is characterized by a diverse range of functional food products across various categories, including dairy products, beverages, snacks, cereals, and infant nutrition. These products are fortified with ingredients such as probiotics, prebiotics, vitamins, minerals, omega-3 fatty acids, and antioxidants to target specific health concerns and address the evolving needs of consumers.
Major vendors in the Middle East Functional Foods Market : Abbott Nutrition Middle East, Almarai (Saudi Arabia), Anchor, Arla Foods Middle East and Africa, Danone Middle East, Food Specialities Limited, General Mills Middle East, Kellogg Company Middle East, Kraft Foods, Mars Middle East, Mondelez Middle East and Africa, Natures Plus Middle East, Nestlé Middle East, Oman Flour Mills Company, PepsiCo Middle East and North Africa (MENA), Savola Foods, Unilever Middle East, Vega Foods (UAE) and Others.
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Rising demand for nutrient-rich food
The rising demand for nutrient-rich food is a significant driver propelling the growth of the functional food market. With increasing health consciousness among consumers, there's a growing recognition of the vital role nutrition plays in overall well-being. Consumers are actively seeking out foods that offer not just sustenance but also additional health benefits, such as improved immunity, enhanced cognitive function, and better digestive health. This heightened awareness has led to a shift towards functional foods fortified with essential vitamins, Vitamins & Minerals, antioxidants, and other bioactive compounds known to promote health and prevent disease. Additionally, factors like hectic lifestyles, rising incidences of chronic diseases, and aging populations further fuel the demand for functional foods tailored to address specific health concerns. As a result, food manufacturers and retailers are innovating and expanding their product offerings to meet this demand, driving the growth of the functional food market worldwide.
Market Dynamics
Drivers:
- Rising demand for nutrient-rich food
- Increasing Consumer Awareness of the Health Advantages
Opportunities:
- Increased R&D for the Production of High-Value Natural Carotenoids
- Increasing innovation in the ingredients used for functional food
Increased R&D for the Production of High-Value Natural Carotenoids
The increased research and development (R&D) for the production of high-value natural carotenoids present a significant opportunity for the functional food market. Carotenoids, such as beta-carotene, lycopene, and astaxanthin, are potent antioxidants found in fruits, vegetables, and algae, known for their various health benefits, including promoting eye health, boosting immunity, and reducing the risk of chronic diseases like cancer and cardiovascular disorders. As consumers increasingly prioritize natural ingredients and seek out foods with functional health benefits, the demand for natural carotenoids in functional foods has surged.
The advancements in R&D have enabled the development of innovative extraction and purification techniques, as well as the cultivation of carotenoid-rich crops and microorganisms, thereby enhancing the availability and affordability of natural carotenoids for food fortification. This presents an opportunity for food manufacturers to formulate a wide range of functional foods enriched with natural carotenoids, catering to the growing demand for healthier, more nutritious dietary options, and driving growth in the functional food market.
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The Dairy Products Segments is anticipated to hold the Largest Market Share during the Forecast Period
Milk, cheese, yogurt, and other dairy items have long been recognized for their nutritional benefits, serving as significant contributors to the diets of many individuals due to the protein, minerals, vitamins, and fatty acids they contain. Recent studies indicate that the consumption of dairy products can have positive effects on muscle development, blood pressure reduction, and the lowering of low-density lipoprotein cholesterol. There is evidence suggesting that dairy intake may contribute to the prevention of tooth decay, diabetes, cancer, and obesity. Organic milk and the incorporation of probiotic microorganisms into dairy products could offer additional health advantages.
Segmentations Analysis of Middle East Functional Foods Market: -
- By Ingredient
- Carotenoids
- Dietary Fibers
- Fatty Acids
- Vitamins & Minerals
- Prebiotics & Probiotics
- Others
- By Product
- Bakery & Cereals
- Dairy Products
- Fats & Oils
- Juices & Beverages
- Meat, Fish & Eggs
- Others
- By Consumer Demographics
- Pediatric
- Adults
- Geriatric
- By Application
- Cardio Health
- Clinical Nutrition
- Digestive Health
- Immunity
- Sports Nutrition
- Weight Management
- Others
- By Distribution Channel
- Convenience Stores
- Online Retail Stores
- Specialty Stores
- Hypermarkets/Supermarkets
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Middle East Functional Foods Market Report Gives Answers to Following Key Questions:
- What will be the Middle East Functional Foods Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of the Middle East Functional Foods Market?
- What are the main forces behind the worldwide Middle East Functional Foods Market? Which companies dominate the Middle East Functional Foods Market?
- Which companies dominate the Middle East Functional Foods Market? Which business possibilities, dangers, and tactics did they embrace in the market?
- What are Middle East Functional Foods industry's suppliers' opportunities and dangers in Middle East Functional Foods Market?
- What is the Middle East Functional Foods industry's regional sales, income, and pricing analysis? In the Middle East Functional Foods Market, who are the distributors, traders, and resellers?
- What are the main country areas for various trades that are anticipated to have astounding expansion over the Middle East Functional Foods Market?
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