LONDON, Oct. 4, 2017 /PRNewswire/ -- Top Growth Opportunities: Bakery & Cereals in the UAE
Summary
Increasing consumer demand for novel and innovative products and the increasing participation of women in the workforce are driving demand for convenient on-the-go food options in the country. United Arab Emirate (UAE) Bakery & Cereals market registered growth at a CAGR of 7.5% during 2011-2016. Consequently, the market is forecast to register growth at a CAGR of 6.4% during 2016-2021 and is expected to be worth US$1,357.8 Million by 2021.
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UAE Bakery & Cereals market is led by the Bread & Rolls and Cookies (Sweet Biscuits) categories in value terms, which grew at a CAGR of 8.2% and 6.1%, respectively, during 2011-2016 and are expected to grow at a CAGR of 6.9% and 5.4%, respectively, in the next five years. The Breakfast Cereals category is forecast to remain the fastest-growing. It grew at a CAGR of 8.7% during 2011-2016 and is expected to grow at a CAGR of 7.2% during the forecast period (2016-2021). On the other hand, Energy Bars is expected to register the slowest growth at a CAGR of 5.1% during the same period.
Bread & Rolls will continue as the top category in the sector, and is expected to be the second fastest-growing category within Bakery & Cereals, with 6.9% CAGR between 2016 and 2021. By contrast, Cookies (Sweet Biscuits) is expected to grow much slower, at a CAGR of 5.4% in value terms. It will remain as the second biggest category, but the unhealthy halo related to this category has affected its growth, being the second slowest-growing category within the Bakery & Cereals market.
Breakfast Cereals is set to register the fastest growth both in value and volume terms, with an expected CAGR of 7.2% and 6.3%, respectively, between 2016 and 2021. Consumers' search for natural products is leading growth in this category, which is perceived by consumers as healthy and energy-boosting.
The report "Top Growth Opportunities: Bakery & Cereals in the UAE", identifies the key demographic groups driving consumption, and what motivates their consumption. When combined with an in-depth study of market and category dynamics, readers are able to identify key opportunities, and what they need to do in order to target them. The report uses a unique method of quantifying consumer trends to highlight the degree of influence they have on consumption within the category.
In particular, this report provides the following -
- Key consumer demographic groups driving consumption within the UAE market. The figures showcase the number of times consumers of specific ages and gender consume Bakery & Cereals, as well as identifying whether these demographic groups "over" consume in the category (i.e. they account for a higher proportion of occasions than the proportion of society they represent overall).
- A study of market value and volumes over 2011-2016 for UAE, supplemented with category, brand and packaging analysis that shows the current state of the market, and how it will evolve over the 2016-2021 period.
- The degree of influence that the 20 key consumer trends identified by GlobalData have on Bakery & Cereals consumption volumes, with granular analysis on the extent that degree of influences varies between gender and age group.
- Insight into the implications behind the data, and analysis of how the consumer needs will evolve in the short-to-medium term future.
Companies mentioned in this report: Golden Loaf Est, Britannia, capricorn Bakery Llc, IFFCO, The Kellogg Company, Almarai, United Biscuits, Campbells Soup Company, Modern Bakery LLC, General Mills, Inc.
Scope
- The UAE has a strong economy with a high per capita income. This is due to increased spending on job creation and infrastructure expansion, which is opening up utilities to greater private sector involvement.
- Increasing consumer demand for novel and innovative products, and the increasing participation of women in the workforce are driving demand for convenient on-the-go food options in the country.
- Some premiumization was seen in the fastest-growing categories of Bread & Rolls and Breakfast Cereals.
- The positive growth experienced in the UAE Bakery & Cereals sector is expected to attract more international brands to this market.
Reasons to buy
- This report brings together consumer analysis and market data to provide actionable insight into the behavior of UAE's Bakery & Cereals consumers.
- This is based on GlobalData's unique consumer data, developed from extensive consumption surveys and consumer group tracking, which quantifies the influence of 20 consumption motivations in the Bakery & Cereals sector.
- Category, brand, and packaging dynamics are also examined. This allows product and marketing strategies to be better aligned with the leading trends in the market.
Download the full report: https://www.reportbuyer.com/product/5112571
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SOURCE ReportBuyer
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