The new report by Expert Market Research titled, ‘GCC Dairy Market Analysis, Share, Size, Trends, Growth, Report and Forecast 2023-2028, gives an in-depth analysis of the GCC dairy market, assessing the market based on its segments like products, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2021): USD 9.46 Billion
- Forecast CAGR (2023-2028): 5.3%
- Forecast Market Size (2027): USD 12.90 Billion
The increasing consumption of butter and cheese in the Middle East region is one of the major factors supporting the market growth. Additionally, the increasing demand for fresh milk in the region is also expected to augment market growth.
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In the historical period, the annual consumption of fresh milk was more than 750 million liters (2017) and is further expected to increase significantly in the near future. Due to a lack of natural resources, the region is also dependent on the imports for dairy products which is increasing year-on-year. GCC countries are the major importer of dairy products including cheese, milk, and butter.
GCC Dairy Industry Definition and Major Segments
Dairy products include milk and products derived from it which include cheese, butter, cream, and yoghurt. The health benefits related to the products due to the presence of essential nutrients like calcium, protein, magnesium, iodine, phosphorus, and various vitamins provide significant demand for dairy products all across the globe and also in the GCC region.
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By product, the market is segmented into:
- Fluid Milk
- UHT Milk
- Flavoured Milk
- Skimmed Milk Powder /Non-fat Dry Milk
- Whole Milk Powder
- Whey Protein (Powder and Concentrate)
- Probiotic Products
The regional markets for the GCC Dairy Market can be separated into:
- Saudi Arabia
- United Arab Emirates
GCC Dairy Market Trends
High disposable income, premiumization of the packaged products, and considerable growth in the population are some of the major factors driving the GCC dairy product market. Moreover, increasing demand for innovative and premium products like vitamin-enriched, low fat, or sugar-free products are also driving the market in the region.
The demand for new products such as yoghurt is increasing hence new investment in yoghurt products was witnessed in the region. Rising health consciousness among women is also leading to an increased consumption of fermented dairy products like yoghurt and probiotic products. Saudi Arabia and UAE are the leading countries in the GCC dairy market. Both the countries together are expected to account for more than half of the market share during the forecast period.
Key Market Players
The major players in the market include Almarai Company, National Agricultural Development Company (NADEC), Al Rawabi Dairy Company, Al Ain Dairy, Saudia Dairy & Foodstuff Company (SADAFCO), Nestlé S.A., Fonterra Co-operative Group Limited, Arla Foods amba, Lactalis Group among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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