The growing demand, benefits, and investment done by key industry stakeholders have amplified the growth of bulgur market globally
New York, NY -- (SBWIRE) -- 11/14/2017 -- Global bulgur market to register moderate growth during 2017-2025
According to Persistence Market Research, the global bulgur market is anticipated to show significant market share and a moderate growth rate throughout the period of assessment 2017-2025. The bulgur market has been witnessing positive expansion since 2012. The global market for bulgur is projected to grow at a CAGR of 4.1% during the period of assessment to reach a market valuation a bit over US$ 1.3 Bn by the end of the assessment period (2025) from an estimation of around US$ 993 Mn in 2017. This increase in growth can be attributed to the changing consumer lifestyle, rising penetration of organic food in the global market and emergence of modern trade and online retail formats. Moreover, rising popularity of healthy food and preference for Mediterranean dishes has triggered the growth path for bulgur in the recent years.
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Indirect segment to offer high opportunities in the future
Indirect segment by distribution channel is expected to be highly lucrative and offer high opportunities associated with the distribution of the bulgur product. This segment is anticipated to register a higher growth rate as compared to direct segment and is poised to reflect a CAGR of 4.3% throughout the period of assessment. This segment also shows high market share and value, thus leading the global market. The indirect segment is estimated to be valued at more than US$ 1 Bn by the end of 2025 from an estimation of around US$ 871 Mn in 2017. It is expected to show a noteworthy market share of about 88% by the end of the assessment year.
The direct segment, on the other hand, shows slow growth and small value share in the global market. This segment is expected to grow at a sluggish CAGR to reach a market valuation of US$ 154 Mn by the end of the period of forecast. The segment is expected to create an absolute dollar opportunity of US$ 3 Mn in 2017 and an incremental dollar opportunity of US$ 32.1 Mn between 2017 and 2025.
Online retail to buckle up in the coming years
The online retail sub segment in the indirect segment category is expected to grow at a robust rate and is poised to show fastest pace as compared to other sub segments during the period of forecast 2017-2025. The online retail segment is poised to grow at a high CAGR of 7.5% and this high growth can be attributed to the increasing preference among youth to purchase products through online retail channel. The online retail sub segment is estimated to show a valuation of about US$ 100 Mn by the end of 2025.
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Convenience stores to dominate other indirect distribution channels during the assessment period
The convenience store sub segment in the indirect distribution channel category is estimated to be the largest segment in terms of valuation. In 2017, this sub segment reflected a value of about US$ 533.2 Mn and is anticipated to reach a valuation of more than US$ 700 Mn by the end of the period of forecast. This segment, however is projected to grow at a slow rate in the coming years. The modern trade segment is the second largest segment in terms of market value. It is also second fastest growing segment and is projected to register a moderate CAGR of 4.5% throughout the period of forecast.