Implementation of new 50% Excise Duty on Sugary Beverages in 2020 will hamper the growth of the UAE Functional Beverages

Effect of 100% Excise Duty on Energy Drinks, Sugary Beverages and Sweeteners in 2020 will hamper the growth of the UAE Functional Beverages Market.

UNITED ARAB EMIRATES ( UAE ), February 17, 2020 /EINPresswire.com/ -- • The urban population is increasing in UAE and is expected to reach to about 8.8 Million in 2023 from 8.0 Million in 2018. The increase in urban population will boost the nutritional supplements market as these people will have a higher awareness about the health and wellness products and better accessibility to the products.

• The consumer expenditure on food and non-alcoholic beverages (at current prices) in UAE is expected to witness a CAGR of 5.2% during 2018-2023 and reach to a value of AED 97 Billion. The increase in consumption of the functional food and beverages will be a key driver in the growth of the consumer expenditure.

• Probiotics consumption helps in prevention of ailments such as irritable bowel syndrome, gestational diabetes, allergies and obesity. Moreover, increasing awareness among the consumers for the products have helped in establishing brands such as Activia Laban, Actimel, Yakult, Pro Bio, Probulin Probiotics and others in the UAE region.

Global Events such as Dubai Expo will help in generating demand: Dubai is going to host Dubai Expo 2020 in which numerous visitors and business delegates will visit from different part of the globe. The Dubai government has organized a campaign called “Welcome to Future” for the event. More than 25 million people will be visiting the country during April 2020 to October 2020 as per the government estimations 70% of these visitors will be from different European nations. This inflow of people will help in stable the market for functional beverages in the country which has been declined little after the implementation of Excise Duty on the energy drinks.

Key initiatives undertaken by the government: The government of UAE is proactively participating in the development of health and wellness awareness in the region. Healthcare is one of the key focus for government in the Vision 2021. It has also formed National Strategy for Wellbeing 2031 focusing on improving the health and wellness scenario in the region. In addition, to this the government has also added excise duty on certain product categories which the government deems to be not good for the consumption. As the health awareness will increase among the masses they will start consuming vitamins and dietary supplement products in order to prevent ailments and diseases.

For More Information on the research report, refer to below link:

https://www.kenresearch.com/healthcare/pharmaceuticals/uae-nutritional-supplements-market/251377-91.html

New emerging channel of retail and distribution in the UAE: The retail scenario in the UAE is changing with new channels coming in the picture. There is increase in the number of chained convenience stores in the region which has helped in increasing the customer convenience and the cases of impulse purchase. Further, the growth of the online channels has been another major development. Internet retailing is popular for different nutritional supplements especially the vitamins and dietary supplements. This channel is popular due to wide variety of product choices offered at a discounted price.

Analysts at Ken Research in their latest publication “UAE Nutritional Supplements Market Outlook to 2023 - by Vitamins & Dietary Supplements (Protein Supplements, Non-Herbal Dietary Supplements Composites, Fish Oils/Omega Fatty Acids, Glucosamine, Co-Enzyme Q 10, Herbal Dietary Supplements Composites, Yeast, Garlic, Ginko Biloba), Functional Foods (Dairy, Baby Food, Breakfast Cereals, Cooking Oil Confectionary, Sweet Biscuits, Snack Bars and Fruit Snacks) and Functional Beverages (Energy Drink, FF Concentrates, Sports Drink, and Bottled Water)”observed that nutritional supplement in the UAE is in its late growth stage and it can be further expanded through rising government initiatives, introduction of new product offerings which are innovative and have scientifically-proven benefits, uses natural ingredients, market promotions, practicing compliant marketing The market is expected to register a positive CAGR of 2.7% in terms of revenue during the forecast period 2018-2023E.

Key Segments Covered

• Vitamins and Dietary Supplements:

 By Standard and herbal/Traditional Vitamins & Dietary Supplements
 By Age Group (Infants, Teenage, Adult, Seniors)
 By Single Vitamins and Multivitamins
 By Type of Dietary Supplements (Standard/Non-Herbal and Herbal/Traditional)
 By Type of Non- Herbal/ Traditional Dietary Supplements (Protein Supplements, Combination of Non-Herbal Dietary Supplements, Fish Oils/Omega Fatty Acids, Glucosamine, Co-Enzyme Q 10 and Others)
 By Type of Herbal/Traditional Dietary Supplements (Combination Herbal Dietary Supplements, Yeast, Garlic, Ginko Biloba and Others)
 By Positioning of Dietary Supplements (Beauty, Digestive, Bone, Heart Health, Memory Health, Joint, General Health and Others)
 By Distribution Channel (Hypermarkets, Supermarkets, Pharmacies/Chemists, Department Stores, Drugstores/Para pharmacies, Internet Retailing and Direct Selling, 2013-2018

• Functional Foods:

 By Type of Functional Foods (Dairy, Baby Food, Breakfast Cereals, Cooking Oil Confectionary, Sweet Biscuits, Snack Bars and Fruit Snacks)
 By Type of Dairy Products (Dairy Based Yoghurt, Milk, Powdered Milk)
 By Type of Dairy Based Yoghurt (Standard Fats and Reduced Fat)
 By Distribution Channel (Hypermarkets, Supermarkets, Convenience Stores and Independent Small Grocers), 2013-2018

• Functional Beverages:

 By Product Category (FF Soft Drinks and FF Hot Drinks)
 By Type of Soft Drinks (Energy Drink, FF Concentrates, Sports Drink, and Bottled Water)
 By Distribution Channel (Hypermarkets, Independent Small Grocers, Supermarkets, Convenience Stores, Forecourt Retailers, Vending and Other Grocery Retailers), 2013- 2018

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: 2019E - 2023E

Companies Covered:

Vitamins and Dietary Supplements:
 Pfizer Inc
 Bayer AG
 Vitabiotics Ltd
 Sanofi
 The Nature’s Bounty Company
 Now Foods Inc
 Otsuka Holdings Co Ltd

Functional Foods:
 Nestle SA
 Danone Groupe
 Kellogg Company
 Al Rawabi Dairy Company
 IFFCCO Group
 Abbott Laboratories Inc
 Mars Inc
 Marmum Dairy Farm LLC

Functional Beverages:
 Redbull GmbH
 Sapporo Holdings Ltd
 Otsuka Holding Company Ltd
 MondelezInc
 S Spitz GmbH
 Monster Beverage Corp

Key Topics Covered in the Report

• UAE Nutritional Supplement Market Overview and Genesis
• UAE Nutritional Supplement Market Size
• UAE Nutritional Supplement Market Segmentation
• UAE Vitamins & Dietary Supplements Market
• UAE Functional Foods Market
• UAE Functional Beverages Market
• Trends and Developments in UAE Nutritional Supplement Market
• Regulations in UAE Nutritional Supplement Market
• Issues and Challenges in UAE Nutritional Supplement Market
• SWOT Analysis of UAE Nutritional Supplement Market
• Entry Barriers of UAE Nutritional Supplement Market
• UAE Nutritional Supplement Market Future Projections, 2018-2023E
• Analyst Recommendations

For More Information on the research report, refer to below link:

https://www.kenresearch.com/healthcare/pharmaceuticals/uae-nutritional-supplements-market/251377-91.html

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Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249

Ankur Gupta
Ken Research Private limited
+91 90153 78249
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