GCC Bakery Ingredients Market is forecasted to reach USD 6.8 billion by 2024 growing at a CAGR of 7.0%during the forecast period (2019 – 2024).
– The demand for international bakery products in the GCC market is mainly driven by a rise in disposable income and consumer preferences for convenient food products. Introduction of new flavors and innovative packaging is also supporting the market’s growth.
– The gluten-free market has gained traction as it appeals to the health-conscious customers who perceive gluten-free as an option to better manage their health. The biggest trend in GCC is the move from imported biscuits to local biscuits.
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Scope of the Report
The bakery ingredient market is segmented by baking enzymes, sweetener, emulsifiers, leavening agents, preservatives, colors & flavors and other ingredients. The UAE’s Al Ghurair may become a purchaser, while Agthia plans to enter the kingdom’s wheat flour market. Sucrose, fructose, honey, molasses, saccharin, and aspartame are some of the most used sweeteners in the GCC bakery ingredients market. The key applications of bakery ingredients considered are bread, cake & pastry, roll & pie, cookie & biscuit, and other products, such as tarts, crackers, and waffles.
Key Market Trends
Breads Segment Held a Major Share by Application
GCC bakery ingredient market is segmented by application into bread, cake & pastry, roll & pie, cookie & biscuit, and other bakery products such as waffles, brownie, crackers, tart, croissants, pancakes, donuts, etc. The bread segment occupies a major share of 50% in the market, followed by the cake & pastry segment. Saudi Arabians consume more bread per person than any other country. Bread is eaten with the main course, and can be dipped in gravy, or used to hold meat and vegetables. The most popular bread in the UAE is the tandoori bread, which is a single-layered flatbread, baked in a shell oven and made of medium-hard wheat. Furthermore, Bread is the dominant category in baked products and is expected to be the dominant category in the future.
Saudi Arabia Held the Major Market
GCC region offers a wide scope for the nations worldwide, to export their bakery products and to meet the consumer demand in the region. Among the GCC nations, Saudi Arabia holds the major share, while countries like UAE, Kuwait and Bahrain account for the fastest growing nations in the region. Kuwait’s domestic agricultural production is almost negligible, due to climatic conditions in the country, whereas the demand for the bakery products or their ingredients is ever increasing. Saudi Arabia is the 20th largest market for bakery products in the world. The market fell in ranking, due to government initiatives like the NITAQAT program, which is an initiative to encourage businesses to hire Saudi nationals.
Almarai Co. Ltd., Oman Flour Mills, Agthia Group, Areej Vegetable Oils, Salalah Mills Co., Kuwait Flour Mills, Cargill Inc., Ingredion, Tate & Lyle, Dawn Foods, Almarai Co. Ltd. Is the largest domestic dairy ingredients supplier of the bakery industries, while Areej Vegetable Oils is the leading supplier of bakery fats and oils.Other dairy ingredient leading suppliers are Saudi Dairy & Foodstuff Company and National Agriculture Development Company (NADEC) in the region.
ADM and Cargill have a significant market share in starches, emulsifiers, and sweeteners. Kerry Group and Givaudan are the major suppliers of flavors and extracts for the bakery industries.
Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Degree Of Competition
5 MARKET SEGMENTATION
5.1 By Ingredient Type
5.1.2 Leaving Agent
5.1.4 Color & Flavor
5.2 By Aplication
5.2.2 Cake & Pastry
5.2.3 Roll & Pie
5.2.4 Cookie & Biscuit
5.3.1 Saudi Arabia
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Company Profiles
6.2.1 Cargill Inc.
6.2.2 Archer Daniels Midland
6.2.3 Kerry Group
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