Report : Middle East & Africa Functional Foods Market Forecast to 2028 – COVID-19 Impact and Analysis – by Product Type (Bakery and Confectionery, Dairy and Frozen Desserts, Sweet and Savory Snacks, Breakfast Cereals, and Others), Category (Organic and Conventional), and Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Online Retail, and Others)
Supermarkets and Hypermarkets Segment to Dominate Middle East & Africa Functional Foods Market during 2019–2028
According to a new market research study on “Middle East & Africa Functional Foods Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Category, and Distribution Channel,” is expected to reach US$ 20,921.97 million by 2028 from US$ 12,148.25 million in 2021. The market is estimated to grow at a CAGR of 8.1% from 2021 to 2028. Surge in incidences of chronic diseases is the major factor driving the growth of the Middle East & Africa functional foods market. However, higher prices of functional foods may hinder the growth of Middle East & Africa functional foods market. The report provides trends prevailing in the Middle East & Africa functional foods market along with the drivers and restraints pertaining to the market growth.
The Middle East & Africa functional foods market is segmented by product type, category, distribution channel, and country. Based on product type, the Middle East & Africa functional foods market is segmented into bakery and confectionery, dairy and frozen desserts, sweet and savory snacks, breakfast cereals, and others. In 2020, the dairy and frozen desserts segment held the largest share Middle East & Africa functional foods market. Based on category, the Middle East & Africa functional foods market is segmented into organic and conventional. In 2020, the conventional segment held the largest share Middle East & Africa functional foods market. Based on the distribution channel, the Middle East & Africa functional foods market is segmented into supermarkets and hypermarkets, specialty stores, online retail, and others. In 2020, the supermarkets and hypermarkets segment held the largest share Middle East & Africa functional foods market. Similarly, based on country, the Middle East & Africa functional foods market is segmented into South Africa, Saudi Arabia, the UAE, and the rest of Middle East & Africa. Saudi Arabia contributed a substantial share in 2020.
Abbott; Danone S.A.; GENERAL MILLS, INC; Kellogg Company; Laird Superfood; Nestlé SA; and Unilever PLC are among the leading companies in the Middle East & Africa functional foods market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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