In terms of revenue, the cooking oil market in the GCC and Qatar was valued at US$988.2 mn in 2015 and is expected to reach US$1.7 bn by 2024, expanding at a 6.6% CAGR therein. In terms of volume, the market is projected to register a CAGR of 8.4% during the forecast period.
Albany, NY -- (SBWIRE) -- 11/29/2016 -- This report provides a strategic analysis of the GCC and Qatar cooking oil market and offers the growth forecast for the period from 2016 to 2024, with 2015 being the base year. The scope of the report includes a competitive analysis of the market segments based on the product types, and package types for GCC and Qatar. The report strives to compile a broader view of the characteristics of cooking oils by providing historical data from 2010 to 2014, and forecast up to 2024 along with a detailed analysis of the revenue.
The report also identifies various factors effecting growth, which includes market drivers, restraints, and opportunities. These factors determine various market trends which impact growth. The market forecast has been provided based on constant currency rates. The GCC and Qatar cooking oil market size is provided in terms of revenue. Market revenue and volume are defined in USD Million and Thousand Tons. Market size and forecast for each product type is provided in the context of regional markets.
An intensive analysis of Qatar and GCC market, by considering the product type and package type of cooking oil is made in this report. Impact analysis of market dynamics that describe factors that are currently driving and restraining growth of the market is mentioned in the study, along with their impact in the near, medium, and long term. The research devises the revenue growth strategies from the market size and forecasts statistics for the upcoming eight years.
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The study also covers the drivers and restraints governing the dynamics of the market along with their impact on demand during the forecast period. Additionally, the report includes potential opportunities in the cooking oil market in the GCC countries and Qatar.
GCC and Qatar Cooking Oil Market: Segmentation
The market of cooking oil is segmented by product type, packaging type and geographically. Product wise, the market is segmented into Sunflower Oil, Corn Oil, Palm Oil and others. By packaging type, the market is bifurcated into retail and bulk. Geographically, the report divides cooking oil market into Qatar and rest of GCC countries such as Saudi Arabia, U.A.E, and Oman among others.
In the product category, Sunflower oil recorded the largest revenue in 2015 and is expected to dominate the market during the forecast period of 2016-2024. Wide usage of sunflower oil among the residents of Qatar is the primary reason fueling the demand for the same.
In the packaging category, retail package dominated the cooking oils' market in GCC nations and Qatar. Retail packaging category accounted for a majority of the market share in 2015 and would continue to do so during the forecast period. Bulk packaging accounted for a comparatively less market share in 2015 and the same is expected to witness further decline by the end of the forecast period.
Market forecasting data provided in this report are derived based on demand generated from different applications and types of raw materials. Market dynamics prevalent in GCC countries and Qatar have been taken into account for estimating the growth of the specified market.
Market estimates for this study have been based on volume, with revenue being derived through regional pricing trends. Market data for each segment is based on volume and corresponding revenues. Prices considered for calculation of revenue are average regional prices obtained through primary quotes from numerous regional suppliers, distributors, and direct selling regional producers based on manufacturers' feedback and application requirement. Forecasts have been based on the expected demand from cooking oil applications.
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GCC and Qatar Cooking Oil Market: Competitive Landscape
The report covers a detailed competitive outlook that includes market share and company profiles of key players operating in the global market. Companies were considered for the market share analysis based on their product portfolio, revenue, and manufacturing capacity. The leading players operating in GCC nations' and Qatar cooking oil market include Savola Group, United Foods Company,Asia Africa General Trading L.L.C, Hayel Saeed Anam Group and Co., Omani Vegetables Oils and Derivatives Co. LLC, and Al Ghurair Resources Oils and Proteins.
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