The latest report by IMARC Group, titled “GCC Camel Dairy Market Research Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the GCC camel dairy market size reached US$ 447.9 Million in 2018, registering a CAGR of around 2.5% during 2011-2018. Camel dairy products are gaining rapid popularity among health-conscious consumers owing to their higher nutritional value as compared to the conventional dairy products available in the market. These products are rich in iron, potassium, sodium, copper, zinc, magnesium, vitamin A and vitamin C. Their consumption aids in boosting immunity, preventing various medical conditions such as anemia, balancing cholesterol levels and treating food allergies. Since camels are one of the most commonly found livestock in the semi-arid areas of the GCC region, camel milk and its products are readily available across these countries.
GCC Camel Dairy Market Trends:
Owing to the busy lifestyle and rising disposable income, the sales of convenience foods have been experiencing a boost in the region. This, coupled with extreme average temperatures, has resulted in the lack of physical activities and negligible participation in sports activities among the masses. Consequently, obesity and diabetes have emerged as the most prevalent lifestyle diseases in the region. In order to combat this, along with the rising awareness about the various health benefits of camel dairy products, consumers across the regions are incorporating them in their daily diet. Apart from this, governments of the GCC countries have undertaken favorable initiatives to promote healthy eating habits. For instance, the UAE Ministry of Economy has provided a value-added tax (VAT) exemption certificate to Emirates Industry for Camel Milk and Products (EICMP), which is expected to create a positive outlook for the market. On account of the aforementioned factors, the market value is anticipated to reach US$ 661.2 Million by 2024.
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Market Summary:
- On the basis of the product type, pasteurized camel milk represents the most preferred product. Other major segments include flavored milk, milk powder, ice cream, cheese, Laban, ghee, drinking yogurt, infant formula and others.
- Based on the packaging, the market has been divided into bottles, cartons, cans and jars. Amongst these, bottles account for the biggest market segment.
- On the basis of the distribution channel, the market has been bifurcated into traditional and modern segments. Presently, traditional retail formats exhibit a clear dominance in the market. Further, the modern segment has been divided into supermarkets and hypermarkets, online, specialty stores, convenience stores and others, out of which, supermarkets and hypermarkets currently hold the largest market share.
- On the geographical front, Saudi Arabia holds the leading position in the market. Other major regions include the UAE, Qatar, Kuwait, Bahrain and Oman.
- The competitive landscape of the market has also been analyzed in the report with the detailed profiles of the key players operating in the market.
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