Saudi Arabia Nutraceutical Market: – “Saudi government is focused on controlling the health of its citizens and is taking various actions to control the sale of products having health hazards. It has imposed 100% sin tax on energy drinks and is putting curbs on wrongful advertising about health benefits on various products.”
Analysts at Ken Research in their latest publication “Saudi Arabia Nutraceuticals Market Outlook to 2023” expect that energy drinks will gain the lost market due to high taxes as there is no alternative substitute. Vitamins and dietary supplements along with functional food will become the key segment in controlling lifestyle diseases. It is expected that the Saudi Arabia Nutraceutical market will register a five-year positive CAGR during the period 2018-2023.
The market is a mix of matured and growth stages depending on the product to product. It is matured for prescription based vitamins and dietary supplements but the potential exists for many functional food and beverages which can easily make their entry in the FMCG sector. Nutraceutical segments have positioned as natural as well as a healthy alternative to traditional medicine.
Changes in Tax Structure: The Saudi government has made significant changes in the tax structure of the nutraceutical products sold in the domestic market. In June 2017, the government implemented 100% sin tax on energy drinks. In 2015, change in policy further led to a decline in the retail price of vitamins and minerals sold in Saud Arabia. This has resulted in a negative impact on the revenue, due to which consumer spending decreased to some extent in the market.
Amplified Demand from Pediatric Population: Parents are becoming more concerned about their child’s health, growth, and nutrition and were further witnessed to spend any amount of significant money over necessity products, especially for babies. The Saudi Arabia nutraceuticals market is largely dominated by functional food. Baby food and milk formula are the largest segments in demand for functional food. Supermarkets and hypermarkets are the largest source for selling functional and baby food items and are followed by local grocery shops. Collectively, they account for the majority of the sales of functional food. Remaining sales are executed through pharmacies, and convenience stores.
Key Segments Covered:-
Vitamins and Dietary Supplements:
By Standard and herbal/Traditional Vitamins & Dietary Supplements
By Type of Dietary Supplements (Standard/Non-Herbal and Herbal/Traditional)
By Positioning of Dietary Supplements (Bone, Joint, Sexual Health, General Health, Immune System, Heart Health, Digestive, Energy and Others)
By Distribution Channel (Drugstores/ Parapharmacies, Direct Selling and Internet Selling, Other Healthcare Specialist Retailers, Supermarkets and Hypermarkets)
Functional Foods:
By Type of Functional Foods (Dairy, Baby Food, Breakfast Cereals, Edible Oil and Confectionary)
By Distribution Channel (Hypermarket and Supermarket, Independent and Small Grocery Retailer, and Other Convenience Stores, Online Retailing, Restaurants, Food Kiosks and Others)
Functional Beverages:
By Product Category (Cold Drinks and Hot Drinks)
By Soft Drinks (Energy Drink, FF Concentrates, Sports Drink, and Vegetable/fruit Juice)
By Distribution Channel (Hypermarket and Supermarket, Independent and Small Grocery Retailer, and Other Convenience Stores, Online Retailing, Restaurants, Food Kiosks and Others
Key Target Audience:-
Nutritional Supplements Manufacturers
Nutritional Supplements Distributors
Nutraceuticals Distributors
Government Agencies
Vitamins and Dietary Supplements Companies
Functional Foods Companies
Functional Beverages Companies
Hypermarkets and Supermarkets
Drug Stores and Pharmacies Chain
Online Sales and Retailing Agencies
Time Period Captured in the Report:-
Historical Period: 2013- 2018
Forecast Period: 2019 -2023
Companies Covered:-
Vitamins and Dietary Supplements:
Pfizer Inc
Bayer AG
Vitabiotics Ltd
Jamjoom Pharma
Procter & Gamble Co, The
Laboratoires Arkopharma SA
General Nutrition Centers Inc
Sanofi
Functional Foods:-
Nestlé SA
Danone, Groupe
Almarai Co Ltd
RONESCA
Abbott Laboratories Inc
PepsiCo Inc
Functional Beverages:-
Abuljadayel Beverages Industries Llc
ALJSR Global Co
Red Bull GmbH
Mondelez International Inc
Spitz GesmbH, S
Nestlé SA
Key Topics Covered in the Report:-
Supplements in Saudi Arabia
Dietary Supplements in Saudi Arabia
Saudi Arabia Functional Dairy Market
Saudi Arabia Reduced Fat Milk Market
International nutritional Supplement Companies Saudi Arabia
GCC Nutritional Supplements Market
GCC Vitamins and Dietary Supplements Market
Middle East Nutritional Supplement Market
Middle East Functional Beverage Market
Middle East Dietary Supplements Market
Vitamin producing Companies in the Kingdom
Dietary Supplement Companies in KSA
Herbal Vitamins Market Saudi Arabia
For More Information On The Research Report, Refer To Below Link:-
Saudi Arabia Nutraceuticals Market
Related Reports by Ken Research:-
Contact Us: –
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
