Dairy goods are among the most favored food products in the GCC region. The dairy industry in GCC is valued at USD XX billion in 2016 and is expected to reach USD XX billion by 2021, growing at a CAGR of X.X%. This significant growth in the size of the dairy industry can be attributed to the changing lifestyles and dietary patterns of the population in the GCC member nations. Saudi Arabia is the largest dairy market among the member nations with a share of about 75% of the total volume.
In 2015, it was reported that several GCC companies were planning on increasing the prices of dairy products, especially milk, owing to high costs of production. Companies have been shifting their focus to manufacturing more functional products that have added healthy ingredients, such as milk for consumers who have diabetes. In the GGC member nations, there is a supply deficit owing to the high dependence on imports. This scenario offers a significant investment opportunity for the local as well as multinational companies.
Increased westernization and rising health awareness driving the market for dairy products
Population growth, altering consumption patterns, continual modernization of the food value chain, and the booming tourism industry are some of the key drivers that are aiding the growth of the dairy industry. Rising health awareness and an evolving taste for a westernized diet, primarily by the increasing expatriate population, are stirring a change in the region’s dietary habits. These factors are creating a market for international and organic foods that also have a positive effect on the growth of the dairy industry.
Major dairy products studied in our report
In our report, the dairy products sector in GCC has been segmented into white milk, cheese, laban, yogurt & curd, and butter & clarified butter based on the type of dairy product. For each category, statistics of market size, imports, and exports are provided, along with government policies and retail layout.
Among the dairy products sold in the GCC region, fresh white milk is the largest product category with the highest market share, followed by laban, yogurt, and cheese in terms of volume.
About the Market
PESTLE Analysis (Overview): Macro market factors pertinent to this region
Market Definition: Main as well as associated/ancillary components constituting the
Key Findings of the Study: Top headlines about market trends & numbers