Market Trends of middle east plant protein Industry
Plant protein consumption to witness steady growth with a rise in health conscious population across Middle East
- The graph showcases the per capita consumption of plant protein for countries such as Bahrain, Egypt, Iran, Iraq, Kuwait, Oman, Saudi Arabia, Turkey, and United Arab Emirates. With growing awareness regarding the benefits of plant protein among the population in the region through different platforms, a large section of people has become health conscious. Consecutively, the demand for plant protein-incorporated food products has risen. The high buying power of the consumers in the region gives them an upper hand, which is expected to drive the plant protein market over the forecast period. Companies in the region are using naturally derived products to meet the ever-increasing demand for organic products.
- For instance, Cutetonic offers its 100% organic pea protein powder through online shopping websites, like saudi.desertcart.com, to cater to the large online customer base. The growing young population in the country generates a high demand for dietary supplements. Since a handful of them choose to consume lactose-free and soy-free products, the demand for pea protein is expected to escalate in the coming years. The market for plant protein in the region is also likely to witness growth through the establishment of strong trade deals with other countries. The local population is highly influenced by Western food habits and is trying to adopt veganism to tackle obesity, paving the way for the plant protein market's growth. Health awareness among consumers is becoming more widespread, and people are turning to plants to combat this. The rising demand for soy-based proteins in the region has also urged the key players to provide soy-based protein ingredients for product formulations.
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Saudi Arabia and Iran leads the Middle East region in terms of plant protein production
- The graph depicts the production of plant proteins such as rice and wheat in Saudi Arabia and Iran. Plant proteins sourced from rice and wheat emerged as the major plant protein forms in the region. The region has grain-producing areas, but with water scarcity, the region is dependent on imports to feed its population. The International Grains Council (IGC) projects total grains production in 2016-17 in Near East Asia at 64.7 million tons, with Iran at 20.4 million tons, Iraq at 4.8 million tons, Syria at 1.4 million tons, and Turkey at 34.9 million tons. It puts others at 3.4 million tons to make up the total. For instance, the volume of rice production in the Middle East was approximately 2.9 million metric tons.
- The region is a big importer of grains. with total grain imports by Near East Asia at 51.4 million tons. Saudi Arabia’s imports are put at 15.3 million tons, with Iran’s at 9.2 million tons and Turkey’s at 6.7 million tons. Of the total, 4.9 million tons is wheat. The imports include 24.4 million tons of wheat from Near East Asia and 11.5 million from Egypt. Turkey’s wheat imports are 4.9 million tons, with Iraq and Iran importing 2.5 million tons and Yemen importing 3.1 million tons of wheat.
- In 2016, Saudi Arabia abandoned a long-standing policy designed to encourage local wheat production. The Saudi government is encouraging agricultural companies to invest in foreign countries that have comparative advantages in producing certain crops and re-export their products back to Saudi Arabia. The crops targeted by this initiative include wheat, rice, barley, yellow corn, soybeans, and green forage. The Saudi government provides financial incentives to encourage Saudi investors (companies and individuals) to participate in food security initiatives.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Low nutrition profile in babies is boosting the demand for baby supplements
- Declining alcohol consumption is highly driving the demand for healthy beverages
- Functional ingredients, rich sauces, dressings, and condiments attracting consumers' attention
- Health awareness is highly impacting the market
- Rising inclination toward camel meat
- Healthy snacking is increasing across the middle eastern countries
- Compound feed to hold major share
- Artisanal bakery products sales to drive bakery market
- On-the-go breakfast cereals on high demand
- Demand for chocolate is driving the confectionery segment
- Rising aging population is driving the market
- Dinner ready-to-eat (RTE) foods gaining prominence
- Initiatives of the middle eastern governments are boosting the growth
- Increasing spending on personal care is driving the market
