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GCC Food Ingredients Market:
Growth opportunities in the GCC food ingredients market look promising over the next six years. This is mainly due to the increasing preference of consumers towards organic food and escalating government initiatives to promote food safety.
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GCC Food Ingredients Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)Key Drivers
The augmenting demand for ready-to-eat and convenience food items accounts for one of the crucial drivers responsible for the growth of the GCC food ingredients market. Also, the swift urbanization experienced by these countries has raised the trade activities in various industries. This has stimulated the import and export of food ingredients, primarily to sustain and enhance the shell life of food products. Moreover, the accelerating population, especially in Kuwait, UAE, and Saudi Arabia, has indirectly strengthened the market share. The surging health consciousness towards organic food ingredients led by the rising incidences of food-borne diseases has promoted organic and natural food ingredients, thereby propelling the market growth.
Government across nations is imparting proper food products to target consumers by largely emphasizing supervising the overall food security activities. The UAE government, in 2020, initiated established the Emirates Council for Food Security (ECFS) to administer the activities related to food security in the country to improve self-sufficiency. Additionally, the ECSF assists in encountering the motive of the National Food Security Strategy 2051. In 2018, the Saudi Arabia Food and Drug Authority (SFDA) guided food facilities in the Kingdom of Saudi Arabia to exhibit both the ingredients along with the total number of calories in the food and beverages. These factors together will fuel the food ingredients market size.
The increasing implementation of food ingredients in the bakery segment uplifts market demand over the forecast period. This is because of the expanding demand for sauces, convenience food items, drinks, and bakery and confectionery. Moreover, as per the food ingredients market analysis, the rising penetration of smartphones and the internet has persuaded individuals to choose the online distribution channel. Enormous benefits offered by these online stores include a wide variety of products, free home delivery, and 24*7 service facilities. These advantages are further alluring individuals towards this distribution channel.
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