Expert Market Research’s new report titled “GCC Dairy Market Report and Forecast 2022-2027, gives an in-depth analysis of the GCC Dairy Products Market, assessing the market based on its segments like products and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2022-2027)
- Historical market size (2020): $8.25 billion
- Forecast CAGR (2022-2027): 5.3%
- Forecasted market size (2026): 12.25 billion USD
The growing consumption of butter and cheese in the Middle East region is one of the major factors supporting the growth of the market. Moreover, the growing demand for fresh milk in the region is also expected to augment the market growth. During the historical period, the annual consumption of fresh milk was more than 750 million liters (2017) and is expected to increase significantly again in the near future. Due to a lack of natural resources, the region is also dependent on imports of dairy products which are increasing year by year. GCC countries are major importers of dairy products, including cheese, milk and butter.
Dairy products include milk and products derived from it, including cheese, butter, cream and yogurt. The health benefits associated with the products due to the presence of essential nutrients such as calcium, protein, magnesium, iodine, phosphorus and various vitamins are generating a large demand for dairy products all over the world and also in the GCC region.
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By Product, the market is segmented into:
- Fluid Milk
- UHT milk
- flavored milk
- Skimmed milk powder/skimmed milk powder
- Powdered whole milk
- Whey protein (powder and concentrate)
- Ice cream
- Probiotic products
The regional markets of the GCC dairy market can be separated into:
- Saudi Arabia
- United Arab Emirates
High disposable income, premiumization of packaged goods and tremendous population growth are some of the major factors driving the GCC dairy products market. Additionally, growing demand for innovative and premium products such as vitamin-enriched, low-fat or sugar-free products is also driving the market in the region. The demand for new products such as yoghurt is increasing, hence new investments in yoghurt products in the region. The growing awareness of women’s health is also leading to increased consumption of fermented dairy products like yogurt and probiotic products. Saudi Arabia and the United Arab Emirates are the main countries in the GCC dairy market. The two countries together are expected to account for more than half of the market share over the forecast period.
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Main market players
The major market players are Almarai Company, National Agricultural Development Company (NADEC), Al Rawabi Dairy Company, Al Ain Dairy, Saudia Dairy & Foodstuff Company (SADAFCO), Nestlé SA, Fonterra Co-operative Group Limited, Arla Foods amba, Groupe Lactalis among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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