Qatar Bakery Product Market - Growth, Trends and Forecasts (2018 - 2023)
The Qatari bakery product market is expected to register a CAGR of 5.3% during the forecast period of 2018-2023. The recent economy crisis has led the Qatari government to change its tourist visa policies, thus making it liberal. It is expected that there would be an exponential increase in the tourist influx during the forecast period.
Growing Awareness of Health Benefits Triggering the Market’s Growth
Consumers are more inclined toward healthy bakery products that provide high nutritional benefits. Products with labels, such as preservative free, gluten free, cholesterol free, GMO free, low sodium and suitable for diabetic with rich fiber, added protein and calcium, etc., especially in cookies and breads, are gaining consumer attention. In addition, the production of healthier bakery items with the inclusion of fruit and vegetable extracts is expected to contribute to the growth of the bakery market in Qatar during the forecast period. However, the stringent regulations by the Qatar government, improper logistics, and high reliance on import are challenging the Qatari bakery industry, and can lower the sales during the forecast period.
Hypermarkets are Likely to Register the Highest CAGR during the Forecast Period
By product type, the Qatari bakery product market has been segmented into breads & rolls, biscuits, cakes, pastries & puffs, and others product types The market was led by the breads & rolls segment, followed by the other product types segment, and the breakfast cereals segment is likely to register a CAGR of 5.9% during the forecast period. By distribution channel, the hypermarket segment is anticipated to register the highest CAGR of 5.8% during the forecast period.
The manufacturers of bakery products in Qatar are trying their best to improve their core goodness values, by producing healthy bakery products with less preservatives and artificial flavors. Major PLAYERS: MONDELEZ INTERNATIONAL INC., KELLOGG CO., PEPSICO INC., ALMARAI CO. LTD, AMERICANA GROUP, KOREAN BAKERIES WLL, AL ARZ AUTOMATIC BAKERY LLC, SUNBULAH GROUP, BAKEMART LLC, MAGNOLIA BAKERY, GENERAL MILLS, NAPOLI BAKERIES, AL BATEEL BAKERY, SHAHAD AL JAZEERA BAKERY, and MESAIEED BAKERY- QBAKE , amongst others.
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