by The MENA Nutraceuticals Market is estimated to be valued at US$ 14.93 Bn in 2022 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The MENA nutraceuticals market comprises functional food and beverages, dietary supplements, and personal care products that provide extra health benefits beyond basic nutrition. Functional foods are gaining popularity owing to rising health consciousness among consumers seeking preventive healthcare options.
Market key trends:
One of the key trends driving the growth of the MENA nutraceuticals market is the increasing demand for fortified and functional food and beverages. Consumers are more aware about maintaining health and wellness, and opting for dietary supplements and functional foods that offer additional health benefits. The market is witnessing increasing demand for omega-3 fortified dairy products, non-GMO and gluten-free food products, prebiotic and probiotic fortified foods, plant-based proteins, and mineral and vitamin enriched foods.
Segment Analysis
MENA Nutraceuticals Market Share is primarily segmented into functional food and functional beverages. The functional food segment currently dominates the market and accounts for around 60% share. Factors such as changing food habits, increasing health awareness, rising per capita income are driving the growth of functional food segment in the region. The functional food segment is further divided into probiotics, prebiotics, protein & protein-rich foods, omega-3 fortified foods, branded ionized salt, branded wheat flour, etc. Among these, probiotics and prebiotics based foods have emerged as the largest sub-segment. Probiotics support digestion and immunity while prebiotics act as food for probiotics. Therefore, increasing demand for gut and overall health has provided an impetus to these food types.
Key Takeaways
The MENA nutraceuticals market is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing consumer awareness about nutrition and proactive health management.
Regional Analysis
The Middle East region currently dominates the MENA nutraceuticals market and accounts for around 60% share. Factors such as growing health consciousness, willingness to spend on premium health products and availability of diverse products are driving the growth of nutraceuticals in Middle Eastern countries. Countries like United Arab Emirates, Saudi Arabia and Kuwait are expected to remain the hotspots in the region.
Key Players
Key players operating in the MENA nutraceuticals market are Nestlé, Nutricia, Unilever, Bionova, BASF SE, Abbott, Arkopharma Laboratories, GSK plc., ADM (Archer Daniels Midland Company), DuPont, Kellogg’s Company, Arla Foods amba, DSM, Quantum Naturals Ltd., Adcock Ingram, Ascendis Health Limited, iNova Pharmaceuticals, Vital Health Foods, Jamjoom Pharma, Creso Pharma, and ConnOils LLC. Majority of leading players are focusing on product innovation and adoption of herbal formulations to target Middle Eastern consumers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
