Key regions: Canada, Philippines, China, Spain, India
The Spreads Market in Oman is experiencing a slow growth rate due to various factors such as increasing competition within the sub-markets of Jams & Marmalades, Chocolate Spreads, and Peanut Butter. Additionally, health-conscious consumers are shifting towards healthier options, impacting the demand for traditional spreads. The convenience of online purchasing also plays a role in the market's growth.
Customer preferences: The Spreads Market within the Spreads & Sweeteners Market of The Food market in Oman is witnessing a growing demand for healthier and natural spreads, as consumers become more health-conscious. This trend is driven by a shift towards healthier and more natural food options, as well as an increasing awareness of the health benefits of natural ingredients. Additionally, the use of social media and digital platforms to promote and market spreads has also contributed to the growth of this market.
Trends in the market: In Oman, the Spreads & Sweeteners market is experiencing a shift towards healthier options, with a growing demand for natural sweeteners and low-sugar spreads. This trend is driven by increasing health consciousness among consumers, as well as government initiatives promoting healthier eating. As a result, manufacturers are expanding their product portfolios to include healthier options and investing in marketing campaigns to promote these products. This trend is expected to continue in the coming years, with potential implications for industry stakeholders such as increased competition and the need for innovative product offerings to meet consumer demand.
Local special circumstances: In Oman, the Spreads & Sweeteners Market within The Food market is heavily influenced by the country's geographical location, as it is situated on the Arabian Peninsula. This makes it a prime location for trade and import of various food products, which has resulted in a diverse range of spreads and sweeteners available in the market. Additionally, the country's cultural preference for sweet foods has led to a high demand for spreads and sweeteners, further driving market growth. Furthermore, the strict regulations on food imports and labeling have a significant impact on the market dynamics, as it affects the availability and pricing of products.
Underlying macroeconomic factors: The Spreads Market within The Food market in Oman is affected by various macroeconomic factors, including the country's overall economic health, global economic trends, and fiscal policies. Oman's economy is heavily reliant on its oil industry, which has been impacted by fluctuations in global oil prices. This has resulted in a slowdown in consumer spending and overall economic growth. However, the government's efforts to diversify the economy and promote tourism have created new opportunities for the Spreads Market. Additionally, the growing health consciousness among consumers in Oman has led to an increased demand for healthier and natural spreads, creating further growth potential for the market.
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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