|International News: GCC Fresh Milk Market is Projected to Reach a Volume of 1,115.7 Million Liters by 2024-IMARC Group
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The latest report by IMARC Group, ti tled “GCC Fresh Milk Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, finds that the GCC fresh milk market reached a volume of 786.5 Million Liters in 2018, growing at a CAGR of 6% during 2011-2018.. Fresh milk, also known as raw milk, is a rich source of essential nutrients, such as calcium, protein, vitamin A, vitamin D and phosphorus. It helps in keeping the body hydrated and supplies both micro and macronutrients to support optimal health. Moreover, fresh milk helps to strengthen bones, maintain muscle mass, improve the circulatory and skeletal systems, boost me tabolism, lower the risk of cardiovascular diseases, increase immunity and support favorable body composition. Over the past years, the GCC countries have experienced substantial socio-economic changes which have led to an increase in their per capita income. The rising affluence of the consumers has encouraged the demand for premium and innovative products, including vitamin fortified, lactose-free, low-fat and sugar-free variants, in turn, providing an impetus to the fresh milk market growth.
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GCC Fresh Milk Market Trends:
In the GCC region, there is a significant demand for fresh milk owing to its health benefits and high nutritional value. Moreover, the growing health consciousness among the consumers has led to an increase in the demand for healthier, natural and organic products. In line with this, the pla yers have developed innovative packaging formats which make the consumption and storage of fresh milk convenient for the consumers, thereby providing a positive thrust to the market growth. In addition, an expansion in the distribution channels has supported the availability of dairy products. Apart from this, the governments in the GCC regions are making investments to provide new and efficient technologies for handling fresh milk from production and cooling to storage. Looking forward, the market is projected to reach a volume of 1,115.7 Million Liters by 2024.
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GCC Fresh Milk Market Summary:
Market Breakup by Region
On a geographical front, Saudi Arabia dominates the market, accounting for the largest share. The high consumption of fresh milk in the country can be attributed to a large population with high disposable incomes. Some of the other major markets in the region include the UAE, Kuwait, Oman, Qatar and Bahrain.
Market Breakup by Landscape
The competitive landscape of the market has also been examined with some of the key pla yers being Almarai, Al Safi Danone, Nada Dairy, Al Ain Dairy and Al Rawabi.
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