LONDON, Aug. 23, 2017 /PRNewswire/ --
Summary
UAE ranks fifth amongst the top ten markets in the global Dairy & Soy Food sector in terms of per capita expenditure in US$ terms, smaller than Australia, the US, Saudi Arabia, and Japan. UAE is forecast to have high growth in per capita Dairy and Soy Food consumption and is clearly a long term growth market.
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UAE is a relatively small Dairy market, though it is forecast to see strong growth with a CAGR of 6.8% over 2016 to 2021, a strengthened growth rate compared to the previous five years. Inflation is likely to remain consistent in 2017, whilst falling property prices may also put pressure on overall price levels. Currently, the employment rate is the highest it has been in recent years, and consumer spending on Dairy & Soy Food is growing fast.
Dairy market must focus on differing consumer needs and how they can cater for lifestyles with financial and time constraints, with 62% of UAE consumers claiming that food products that align with their time and money constraints would often or always influence their product choice. The economy of the UAE is the second largest after Saudi Arabia in the Arab world, and it continues to rely on oil revenues. Trade plays an important role in the country, as the value of import and export makes up the majority of GDP.
The UAE market is forecasted to experience a CAGR of 6.8% in 2016-2021. Additionally, 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.
The UAE's dependency on oil trade forms an unstable condition, sorely relying on global fluctuations in supply and demand. Though the non-oil economy is growing, it is currently not creating enough revenue to sustain government spending in the event of a downturn. Despite strong growth projections for the Dairy industry, its revenue will remain relatively small, and it will likely to remain so for a while, leaving it somewhat exposed to economic fluctuations.
The report "Top Growth Opportunities: Dairy & Soy Food in the UAE" provides an overview of the meat market, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption.
In particular, this report provides the following -
- Key consumer demographic groups driving consumption within the UAEese market. The figures showcase the number of times consumers of specific ages and gender consume Dairy & Soy, 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 Dairy & Soy 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.
- Examples of international and UAE-specific product innovation targeting key consumer needs.
Companies mentioned in this report: Almarai Company, Al Ain Dairy Farm, Al Rawabi Dairy Company LL.C., Nestle S.A., The Kraft Heinz Company, Arla Foods, Gulf and Safa Dairies Co. LLC, Fonterra Co-Operative Group, Groupe Danone S.A., Groupe Lactalis.
Scope
- The UAE is a relatively small Dairy market, though it is forecast to see strong growth over 2016 to 2021, a strengthened growth rate compared to the previous five years.
- Value for money is the main driver in the Dairy & Soy Food market in the UAE, with most categories growing at similar rates in value and volume.
- Dairy & Soy Food products with health and wellness claims were worth nearly US$400.0 million in 2016, and this market is expected to grow at a 24.9% increase over the next five years.
- UAE consumers are increasingly concerned about the fat and cholesterol content of the food and drink they consume, therefore brands are targeting these consumers by launching low fat and fat free Dairy options.
Reasons to buy
- This report brings together consumer analysis and market data to provide actionable insight into the behavior of UAE's Dairy & Soy 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 Dairy & Soy sector.
- Category, brand, and packaging dynamics are also examined.
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