UAE Organic Herbs and Spices Market
The UAE Organic Herbs and Spices market size was valued at $31.24 Million in 2019 growing at a CAGR of 7.39% from 2020 to 2027. This growth is attributed to several macros and microeconomic factors such as
Growing Food service demand in GCC
The demand for the foodservice in the GCC region is constantly growing due to the growing population coupled with high per capita income, an increase in tourist arrivals, and changing consumer preferences. Although the food industry in GCC countries has slowed down due to the current pandemic and economic slowdown with the implementation of Value-Added Services in UAE, this has partially been stabilized by the oil prices and government support to drive the non-oil economy.
UAE is considered to be the second-largest market for food and beverage in GCC countries, given the nation an influx of over 17 million tourists in 2018 in UAE. The number of expatriates residing in UAE comprises 85% of the population and this has led the multi-culture communities to have increased demand for different types of multi-cuisine food. Also, the people living in the UAE are health conscious and prefer increasing demand for healthier, organic, and natural food products. This will lead to an increase in the consumption of herbs and spices in their diet which will lead to the growth of the market in UAE during the forecast period.
According to the Food Export Association of the Midwest USA and Food Export USA – Northeast, the COVID-19 outbreak has impacted global trade and travel by a considerable decline in the food industry. It is expected that the Gross Domestic Product (GDP) to increase only by 1% in 2020, which is low compared to the March estimate of 2021 of 2.9%.
Further several factors restraining the market growth include
Greater Reliance on Food Imports coupled with consumer spending
There has been an increase in food import dependence in GCC over the past years, primarily due to limited available resources and unfavorable climatic conditions. The primary food import is majorly from the Asia Pacific while North America, South America, and Europe also have a considerable share in the food import market (majorly for spices and herbs); while the tourist arrivals are majorly from the Asian region. The food items which are shipped from these countries must go through Suez Canal in Egypt, the Strait of Hormuz adjoining Iran and Iraq, and the Bab-el-Mandeb Strait between Yemen on the Arabian Gulf and Southwest Africa. There has been a history of political uncertainty and the routes are highly vulnerable. Any instability along this route will greatly impact the food service industry and the import of spices and herbs can also have an adverse effect.
Consumer spending has also impacted the growth of the market geopolitically, demographics, and economically due to comparatively lower oil prices and the stranger dollar. People coming from different geographies tend to relatively low spending on cuisine since they prefer familiar cuisine. The relatively low spending on food items will have lower consumption of spices and herbs which will have a negative impact on the organic spices and herbs market.
Collaborations and Alliances in the UAE Organic Herbs and Spices market are expected to generate higher avenues during the forecast period.
In the wake of the COVID-19 pandemic, supply chain disruptions have led to supply shortages or lower demand in the Organic Herbs and Spices market. The pandemic has caused a decline in new orders and a corresponding decrease in production.
This section will analyze how COVID-19 has impacted supply chains, leading to shortages and lower demand for Organic Herbs and Spices.
In terms of COVID-19 impact, the UAE Organic Herbs and Spices market report also includes the following data points:
Impact on UAE Organic Herbs and Spices market size
Operating Weights Trend, Preferences, and Budget Impact
Regulatory Framework/Government Policies
Key Player's Strategy to Tackle Negative Impact/Post-COVID Strategies
Opportunity in the UAE Organic Herbs and Spices market
Key Insight in the report:
The UAE Organic Herbs and Spices market report covers an executive summary, market dynamics, COVID impact & post-COVID scenario, market size and forecast, competitive intelligence, market positioning, and Spices Type offerings.
Our report covers extensive competitive intelligence which includes the following data points:
Business Segment Data
Spices Type Segment Analysis and Specification
Recent Development and Company Strategy Analysis
UAE Organic Herbs and Spices Market Segmentation:
Meat & Poultry Products
Sauces & Dips
Snacks & Convenience Foods
Soups & Noodles
Ready to Eat Meals
Key Players Analyzed in the Report:
ORGANIC INDIA ME
SOVEREIGN INDUSTRIES LLC
MEVIVE INTERNATIONAL FOOD INGREDIENTS
Daulat Farms Group
High-level analysis of the current and future market trends and opportunities
Detailed analysis of current market drivers, restraining factors, and opportunities in the future
UAE Organic Herbs and Spices market estimates for 2019 and forecast from 2020 to 2027
Vendor market share analysis at each product Level
Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
Suppliers and traders
Government, associations, and industrial bodies
Investors and trade experts
Consulting Firms or Individual Consultants
Anyone interested in understanding the industry dynamics of the UAE Organic Herbs and Spices market
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