The nutritional supplements are any dietary supplement that is intended to deliver nutrients that may otherwise not be consumed in sufficient quantities likewise proteins, vitamins, minerals, amino acids or several other nutritional substances. The products are primarily ingested in tablet, capsule and liquid form.
According to the report analysis, ‘UAE Nutritional Supplements Market Outlook to 2023 – by Vitamins & Dietary Supplements (Protein Supplements, Non-Herbal Dietary Supplements Composites, Fish Oils/Omega Fatty Acids, Glucosamine, Co-Enzyme Q 10, Herbal Dietary Supplements Composites, Yeast, Garlic, Ginko Biloba ), Functional Foods (Dairy, Baby Food, Breakfast Cereals, Cooking Oil Confectionary, Sweet Biscuits, Snack Bars and Fruit Snacks) and Functional Beverages (Energy Drink, FF Concentrates, Sports Drink, and Bottled Water)‘ states that UAE Nutritional Supplements market grew at a greater single digit growth rate over the foreseen period of 2013-2018. The market growth was assisted by the growing health awareness, government initiatives, and growth in the personal disposable income of the individuals, growth in the ageing population, and precautionary nature of the age group (25-45 years). The market was witness in the late growth stage and will endure to remain so in the forecasted duration, 2018-2023.
A change in consumption trend has been observed in the UAE health and wellness industry, wherein the consumers are aiming more on the precautionary healthcare from taking health supplements in the old age to a shift in growing consumption of supplements in the earlier ages in order to safeguard against them from permanently relying on pharmaceutical drugs. Nutritional Supplements are positioning itself as natural and healthy alternative to traditional medicine in the country.
Functional Food sector was the leading category in the market during 2018. The high consumption of dairy products particularly dairy-based yogurt throughout the Ramazan season is one of the foremost growth drivers for the products around the UAE market. This segment was followed by the Functional Beverages market.
Energy drinks was the most underwriting category in the development of the Functional Beverages market. It is greatly consumed by the teenagers and young adults. The market weakened after the implementation of 100% excise duty on the energy drinks during October 2017.
The remaining contribution in the market is made by the Vitamins and Dietary Supplements during 2018. The market has developed owing to the growth in participation of individuals in the sports and fitness activities, awareness towards the anti-aging and detoxification issues and several other reasons.
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Competition in the UAE Functional Food market was witness to be moderately concentrated with foremost five players that captured almost three fourth of the segment revenue during 2018. The market has large existence of famous multinational giants with little existence of domestic players. Major players in the UAE Functional Food market are Nestle SA, Danone Group, Kellogg Company, Al Rawabi Dairy Company and IFFCO Group and others. Over the years, the competition is becoming powerful and fierce as the companies are aiming towards advancing the quality of their products.
At Ken Research, the report on UAE Nutritional Supplements market delivers a comprehensive analysis of the nutritional supplements market in the UAE. The report also covers the overview and genesis of the industry, whole market size in terms of revenue, division on the basis of product category and channels of distribution for functional foods, functional beverages and vitamins & dietary supplements, trends and developments, issues and challenges , regulations in the UAE, value chain analysis, SWOT analysis, entry barriers, competitive insights and company profiles. The report concludes with market projection and analyst recommendations priority the foremost opportunities and cautions.
The UAE Nutritional Supplements Market is predicted to develop in the future with a single digit CAGR over the review period (2018-2023E). In Future, it is estimated that Functional Food will continue to register the market, with more than half of the total revenues. The dairy products will be the most required category in the functional food market and in dairy products, yogurts will be the most necessitated product.
UAE Functional Beverages is predicted to have sluggish growth in the future, majorly as the market will cope with the decline owing to implementation of excise tax on energy drinks. During 2020, a new excise tax of 50% will be further employed on the drinks containing sugary content and sweeteners. FF Soft Drinks will endure to be the leading category in the functional beverages market during 2023. Market will observe introduction of new products comprising more of the natural content such as natural sweeteners, fruit mixtures and several others.
Vitamins and dietary supplements market will have the least market share among all the three categories in nutritional supplements market by the year 2023. Standard Vitamins and Dietary Supplements will be principal of the market by capturing most of the market by the end of the year 2023. future, it is predicted that vitamins are estimated to lead the vitamins and dietary supplements by the year 2023.
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The post UAE Nutritional Supplements Market 2022- Top Manufacturers, Latest Trends, Size, Share, Future Prospects and Forecast 2027: Ken Research appeared first on Ken Research.