The food flavors market in the Middle East is expected to double in the next five years, driven by strong innovation in products and technology. Greater consumer awareness regarding flavors and their variants is compelling blenders and manufacturers to come up with unique variants.
New analysis from Frost & Sullivan (food.frost.com), Strategic Assessment of the GCC Food Flavors Market, finds that the market earned revenues of USD 145.6 million in 2011 and estimates this to reach USD 298.9 million in 2017.
Manufacturers are introducing many changes in terms of conventional and non-conventional variants. This steady stream of innovation is opening the market up for competition and higher revenue inflow.
"The higher revenues are mainly due to the increasing demand for flavorings by fast moving consumer goods companies," said Gayathry Ramachandran, Sr. Consulting Analyst, Food Practice, Frost & Sullivan. "Dairy and beverage are the other growing application sectors, owing to the increased domestic consumption and consumers' desire for novel flavors."
Confectionery and the bakery products containing advanced variants and other functional ingredients are considered premium and high-priced products.
However, revised regulations that are not favorable to the flavors market are squeezing manufacturers' profit margins. Flavor blenders can attempt to offset this challenge by developing new processes of manufacturing and developing flavors that will not be affected by regulations.
The higher purchasing power of citizens in the Middle East is another huge boost to the market. Despite the uneven distribution of wealth, the improved affordability has benefited the food and beverage market, which, in turn, has created opportunities for the flavors market.
The market has also gained significantly from a number of mergers and acquisitions and large investments in R&D.
"Overall, new techniques that revamp flavoring applications, along with new product developments, are vital to maintain an advantage in this highly competitive market," noted Gayathry.
If you are interested in more information on this research, please send an email to Tanu Chopra/ Deepshri Iyer, Corporate Communications, at tanu.chopra[.]frost.com/ deepshrii[.]frost.com, with your full name, company name, title, telephone number, company email address, company Website, city, state and country.
Strategic Assessment of the GCC Food Flavors Market is part of the Food and Beverage Ingredients Growth Partnership Services program, which also includes research in the following markets: Strategic Assessment of Indian Food Flavors, Analysis of Fruits and Vegetable Extracts Market, and Strategic Analysis of Health Food and Beverages in the GCC Market. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
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Strategic Assessment of the GCC Food Flavors Market / P4C8-88
Nimisha Iyer, Corporate Communications - Middle East, North Africa and South Asia
P: +91.98200 50519 / F: +91.22.2832 4713 - E: niyer[.]frost.com.