Growth in Retail Sector, Increasing Young Age Population and Changing Lifestyle of Consumers are Surging the Demand for Biscuits in the Middle East Region- 6Wresearch
Middle East Biscuit Market is expected to witness stable growth during 2017-2023. Mega Events such as UAE World Expo, 2020 and Qatar FIFA World Cup, 2022 would surge the growth of biscuit market during the forecast period with arrival of large number of tourists in the region.
According to 6Wresearch, Middle East Biscuit Market is projected to grow at a CAGR of 3.0% during 2017-23. Saudi Arabia, UAE, Jordan and Qatar are the key countries witnessing major growth during the forecast period. Growth in organized retail in the region with increasing young age population have further enhanced the development of biscuit market.
According to Ravi Bhandari, Assistant Manager, Research and Consulting, 6Wresearch, “Sweet biscuit dominates the market which includes plain biscuits, cream biscuits and wafers. Sweet biscuits are demanded by all the sections of the society with wide range of products available for the end users. Further, product development in the sweet and savoury & cracker biscuit are fostering the market growth for biscuits. Additionally, the marketing strategies adopted by major companies have boosted the market for biscuits.”
According to Kanika Sharma, Research Associate, Research and consulting, 6Wresearch, “Right packaging design is critical in retail sales for biscuits. Flexible packaging dominates the market and it is expected that paper & board packaging would witness surge in demand.
In major countries such as Saudi Arabia, UAE, Qatar and Kuwait, super/hyper market holds major share, however in Jordon and Lebanon one stop shop culture is expected increase in the coming years, Kanika Concluded.”
Some of the major companies in Middle East Biscuit Market includes Mondelez, United Biscuits, Britannia, IFFCO, Loacker, Ulker and others.
“Middle East Biscuit Market (2017–2023)” report provides in-depth analysis with 111 figures and 8 tables covered in 211 pages. The report estimates and forecast the overall Middle East Market by Category, Distribution Channels and Packaging. The report also offers insights on competitive landscape, companies benchmarking, company profiles, market drivers and restraints.