Market Research Report
Top Growth Opportunities: Meat in the UAE
|Published by||GlobalData||Product code||512817|
|Published||Content info||93 Pages
Delivery time: 1-2 business days
|Top Growth Opportunities: Meat in the UAE|
|Published: February 23, 2019||Content info: 93 Pages||
The UAE meat sector was valued at US$1,547.9 million in 2018, and is forecast to grow at a strong CAGR of 6.5% over 2018-2023. The UAE's economic growth has been sluggish in recent times, but the country's retail market is booming. This thriving market is targeting the niche but growing group of affluent, high-income expatriates in the country, offering tailored, premium packaged meat products to cater to their needs. Rising disposable incomes, driven by improving employment levels, are aiding meat sales.
Furthermore, an increasing number of Emiratis are becoming health-conscious and are focusing on improving their dietary habits. This could result in a rise in the consumption of high-protein and low-fat products such as lean meat, thus boosting the sales of meat products that are attributed with health & wellness claims. Consequently, the UAE market for meat is expected to grow during the next five years and will reach US$2,117.2 million by 2023.
However, the UAE relies heavily on imports as it imports more than half of its meat produce. In 2017, for example, 59.7%1 of the meat it consumed was imported from various countries around the world. This makes the country highly vulnerable to price fluctuations and changes in supplying countries' export regulations. Global prices of meat were up by 9% in 2018, which will make meat products in the UAE more expensive. This will prove to be a major inhibitor to the country's meat sector.
The report "Top Growth Opportunities: Meat in the UAE", provides an overview of the market, analyzing market data, demographic consumption patterns within the category, and the key consumer trends driving consumption.
The report pin points the best growth opportunities for producers, suppliers and retailers by identifying the best opportunities, analyze white spaces in the market, and outline new product development that will effectively target the most pertinent consumer need states. These are combined to offer strategic recommendations to capitalize on evolving consumer landscapes.