Packaged Foods Market in the region estimated to grow over on an average of 8.95% each year.
Rising population and a proliferation in media channels will drive expansion, although inflation could weigh on growth. An analyst from the report team highlighted, region’s increasing number of young, educated and media savvy consumers, familiar with television, the internet and social media.
Young regional consumers have an expanding disposable income and are responding to product information and communications from food companies by seeking healthy packaged food.
To reach consumers in the region, many packaged food companies are using media channels such as Facebook and Twitter, said the analyst.
In August 2012, Kraft Foods launched its Dream Whip Desserts Stars online campaign, giving people in the GCC a chance to showcase their dessert making talent and win prizes.Initiatives like this are helping to spur the sector’s growth, according to the report. Key vendors in the space include Almarai Co Ltd, Danone SA, Mondelez International, Inc, and Nestlé SA. The report also covers Abdul Kadir Al Muhaidib & Sons Group, Americana Group, Mars Inc, National Food Industries Co Ltd, National Agricultural Development Co, PepsiCo Inc, Saudi Dairy & Foodstuff Co Ltd, IFFCO Group, and Halwani Bros Co.