Key regions: Spain, Japan, China, Philippines, United Kingdom
The Spreads & Sweeteners market in the GCC is experiencing minimal growth, influenced by factors such as increasing health consciousness, convenience of online services, and the usage of digital technologies. This can be attributed to consumer preferences for healthier options and the availability of substitutes in the market.
Customer preferences: In the GCC region, there has been a notable shift towards healthier eating habits, with consumers becoming more health-conscious and seeking out natural and low-sugar options in the Spreads & Sweeteners Market within The Food market. This trend is influenced by the growing awareness of the negative effects of excessive sugar consumption on health. As a result, there has been an increase in demand for sugar-free and natural sweeteners, such as stevia and honey, as well as spreads made with natural ingredients. This shift towards healthier choices is also driven by the rising number of health-conscious and environmentally-conscious consumers in the region, particularly among the younger population.
Trends in the market: In the GCC, the Spreads & Sweeteners market is seeing a shift towards healthier and natural alternatives, as consumers become more health-conscious. This trend is driven by the increasing prevalence of chronic diseases and the growing demand for clean label products. Additionally, there is a rise in demand for plant-based and vegan spreads and sweeteners, as consumers become more environmentally and ethically conscious. This trajectory is expected to continue, with a focus on innovation and product differentiation in the market. Industry stakeholders should prioritize R&D efforts to cater to these evolving consumer preferences, while also considering potential regulatory implications in the region.
Local special circumstances: In the GCC region, the Spreads & Sweeteners Market within The Food market is influenced by several unique factors. The hot climate and traditional food preferences have led to a high demand for spreads and sweeteners, especially those made from local ingredients such as dates and honey. Additionally, strict halal regulations in the region have fueled the growth of halal-certified spreads and sweeteners, catering to the large Muslim population. The increasing health consciousness among consumers has also led to a rise in demand for natural and organic spreads and sweeteners, which are gaining popularity in the region.
Underlying macroeconomic factors: The GCC Spreads & Sweeteners Market within The Food market is highly influenced by macroeconomic factors such as global economic trends, national economic health, fiscal policies, and other financial indicators. The growth of the market is closely tied to the overall economic performance of the GCC countries, with countries experiencing strong economic growth seeing a rise in consumer spending on food products such as spreads and sweeteners. Additionally, favorable regulatory environments and investments in the food industry are driving the market growth in the region. The increasing demand for healthier food options and the growing population are also contributing to the growth of the market in GCC countries.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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