Increasing prevalence of lifestyle diseases, combined with rising awareness on the potential benefits of nutraceuticals is driving demand in Middle East and North Africa (MENA). Nutraceuticals revenues in MENA are expected to reach US$ 9.6 billion by 2016, up from an estimated US$ 9.1 billion in 2015.
Consumers in MENA are increasingly choosing nutraceuticals, such as dietary supplements, functional foods and beverages for preventive healthcare. Further, concerns about the side effects of conventional pharmaceuticals have prompted many consumers to opt for natural and organic nutraceuticals. Although nutraceutical manufacturers cannot market their products as ‘treatment’ option, lack of regulation has allowed several nutraceuticals to become substitutes for prescription drugs in MENA.
The MENA nutraceuticals market presents unique opportunities and challenges to manufacturers, with products that conform to local tastes and preferences witnessing high uptake among consumers. Further, MENA is culturally diverse, and what may appeal to consumers in GCC may not work for consumers in North Africa. Manufacturers are relying on research and tie-ups with local brands to gain a foothold in the market.
Browse Full “Nutraceuticals Market: Middle East and North Africa (MENA) Industry Analysis and Opportunity Assessment, 2015 – 2020” Research Report at:
Nutraceuticals Gaining Traction in MENA
Although nutraceuticals is a broad term encompassing all foods that have medicinal value, in its report, FMI has segmented the MENA nutraceuticals market into dietary supplements, functional foods, and functional beverages.
Dietary supplements accounted for 37% market share in 2014, totalling US$ 3.18 billion in revenues. FMI expects revenues from dietary supplements to reach US$ 3.55 billion by 2016.
Dietary supplements are further categorised into vitamins and minerals, herbal supplements, and protein supplements. Vitamins and minerals dominated the overall demand for dietary supplements in MENA, accounting for US$ 1.3 billion in revenues in 2014. FMI expects vitamins and mineral supplement sales to reach US$ 1.5 billion by 2016.
Functional foods are further segmented into,
- Omega fatty acid fortified food
- Probiotic fortified food
- Branded iodised salt
- Branded wheat flour market
Among these, omega fatty acid fortified food and probiotic fortified food account for bulk of the demand, accounting for 64% of the MENA functional food market in 2014.
Request a Free Sample Report:
Demand for functional beverages in MENA totalled US$ 2.4 billion in 2014. Among all the three categories of nutraceuticals, demand for functional beverages is expected to grow at the highest rate. Popularity of ‘energy drinks’ among the youth, combined with attractive range of offerings is driving uptake of functional beverages in MENA.
In its report, FMI has segmented the MENA nutraceuticals market into GCC, Rest of Middle East, and North Africa.
GCC is the largest market for nutraceuticals in MENA, representing 41.1% revenue share in 2014. GCC countries are among the richest in the world and per capita income is on the higher side. GCC has a strong European and North American expat population, which is not only contributing to nutraceuticals demand but also influencing buying behaviour in urban areas.
North Africa is the second-largest market, with nutraceuticals revenues totalling US$ 3 billion in 2014. Awareness about nutraceuticals is rising in the region, although it’s not as high as it is in GCC countries. FMI expects the North Africa nutraceuticals market to expand at nearly 7% CAGR through 2020.
Get More Insights on Food and Beverages Research Report:
The Rest of Middle East, which includes Iran, Iraq, Syria, Yemen, among other nations, is also witnessing a surge in demand for nutraceuticals. FMI expects demand in the region to expand at nearly 7% CAGR through 2020.
The key players profiled by FMI in its report include Kellogg’s, General Mills, Amway, Danone, BASF, Newtrition, Nestle, Arla Foods, and Quaker.
FMI Latest Insights: http://www.futuremarketinsights.com/reports/latestinsights
FMI Article: http://www.futuremarketinsights.com/articles
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
Company Name: Future Market Insights
Contact Person: Sudip Saha
Address:616 Corporate Way, Suite 2-9018
City: Valley Cottage
State: New York
Country: United States