MarkNtel Advisors presents a comprehensive research report on the Saudi Arabia Nutraceuticals Market Size, Share, Analysis, Future expected to reach CAGR of 6.71% by 2027. Delving into thorough analysis of the industry's changing dynamics, growth drivers, challenges, key trends, and lucrative opportunities. This study aims to provide stakeholders in the market with detailed insights, enabling them to make informed and strategic decisions that will yield higher revenues in the coming years. With a focus on delivering value, the report covers a wide range of aspects, ensuring a holistic understanding of the market landscape.
Unlocking Market Insights: Exploring Key Aspects in the Saudi Arabia Nutraceuticals Market Report (2022-2027)
It analyzes the fluctuations in revenue across different segments and geographical regions, considering the evolving trends and purchasing patterns of end-users.
The report highlights key developments, including the introduction of new services, expansion of product portfolios, revenue generation strategies of major players, stakeholder investments, and the role of governments.
Additionally, it offers an unbiased overview of market trends, innovations, technological advancements, and fluctuations, as observed by industry experts.
To ensure reliable data generation and analysis, the report utilizes tools such as SWOT (Strengths, Weaknesses, Opportunities, Threats) and PESTLE (Political, Economic, Social, Technological, Legal, and Environmental) analysis.
The competitive landscape section of the report showcases the dynamic strategies employed by leading players to enhance profit margins and expand their market presence across different regions.
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Market Dynamic
Key Driver: Burgeoning Lifestyle-based Diseases to Lead the Demand for Nutraceuticals
Saudi Arabia is one of the high-income economies in the Middle East region, with high consumption of packaged food beverages. However, the consumption of packaged foods and luxury lifestyles, combined with decreased physical activity, has resulted in a significant portion of the population suffering from ailments such as obesity, hypertension, diabetes, etc. According to World Health Organization, the total percentage of the obese population under the age of 15 years was over 70% in the Kingdom of Saudi Arabia.
Similarly, the elder-age population in Saudi Arabia also has a high-risk potential for cardiovascular diseases. According to a Saudi Health Ministry survey, 37% of the deaths in the country are caused due to cardiovascular diseases. These are a few of the key reasons that have pushed the consumers in the region to adopt healthy food practices nutraceuticals to curb the diseases in the young- middle-aged population. In addition, as nutraceutical supplements their addition to various foods beverages prevent lifestyle diseases by reducing the deficiency of nutrients, the Nutraceuticals market in Saudi Arabia has grown steadily over the period 2017-2021, and is also expected to grow further during the forecast period.
Possible Restraint: Higher Dependence on Import of Nutraceuticals by Saudi Arabia to Hamper the Market
With the high reliance on the import of nutraceuticals, such as vitamins, protein, amino acids, minerals, etc., the country has become extensively import reliant. This import dependency has grown during the historical period in the country that constitutes some of the key challenges for the nutraceutical supplement industry, such as high susceptibility of the prices in the domestic market supply chain consistency issues concerning any eventual condition. Additionally, the supply chain issue was apparent during COVID-19, when the major exporters in Saudi Arabia were adversely affected by high infection rates, causing import export restrictions.
Growth Opportunity: Growing Vogue of Fit Lean Body as well as Beauty Enhancements
The growing trend of fit lean body among the adults of the country has been significantly fueling the demand for dietary supplements such as energy bars, protein bars, non-carbonated energy drinks, sports supplements, etc., over the last few years. Furthermore, the outbreak of the COVID-19 pandemic has also inclined the customers to join fitness training institutes, gyms, sports clubs, etc., owing to the concerns about being fit improved immune systems.
Moreover, the rising craze of bodybuilding has also led to the expansion of gyms, fitness institutes, etc., in Saudi Arabia. Therefore, the growing fashion of joining fitness centers, sports clubs, etc., would create an opportunity for muscle gain dietary supplements like Whey Protein, Total Gainer, Isopore, etc., to be in considerable demand in the forthcoming years.
The competitive landscape of the Saudi Arabia Nutraceuticals Market depicts the dynamic scenario among industry players, highlighting their market positions, strategies, and initiatives. It encompasses an analysis of key competitors, their strengths, weaknesses, opportunities, and threats (SWOT analysis). The report also sheds light on the market share, product offerings, business expansion, collaborations, mergers and acquisitions, and other strategic activities undertaken by these players to gain a competitive edge. Additionally, it examines the competitive intensity, market barriers, and potential entry of new players, providing a comprehensive understanding of the market's competitive landscape.
-Pfizer Inc
-Bayer AG
-Vitabiotics Ltd
-Nestl SA
-Danone
-BASF S.A.
-PepsiCo Inc
-General Mills
-Natures Way
-Abbott Nutrition
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Segmentation Unveiled: Analyzing Saudi Arabia Nutraceuticals Market's Expansion and Mapping Demand, and Distribution across Geographies
By Product Type
-Dietary Supplements
--Proteins Peptides
--Vitamins Minerals
--Herbals (Ayurveda Extracts, Plant Extracts, Algal Extracts, And Phytochemicals)
--Others (Fatty Acids and Fiber)
-Functional Foods
--Probiotics Fortified Food
--Omega Fatty Acid Fortified Food
--Branded Ionized Salt
--Branded Wheat Flour
--Others
-Functional Beverages
--Fruit Vegetable Juices and Drinks
--Dairy Dairy Alternative Drinks
--Non-Carbonated Drinks (Bottled Water, Tea, And Coffee)
--Other (Herbal Tea, Sports Drinks, And Energy Drinks)
By Source
-Plant
-Animal
-Microbial
By Form
-Tablets Capsules
-Gummies Soft Gels
-Powder Liquid
By Sales Channel
-Offline Store-Based
--Supermarkets Hypermarkets
--Specialty Stores
-Online
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On the geographical front, the Saudi Arabia Nutraceuticals Market expands across:
By Region
-Central
-West
-East
-South
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