Rising preference for Middle Eastern flavors in pastes and spreads coupled with the growing demand for hummus and other tahini based products is expected to support the consumption of pastes and spreads in the coming decade.
New York, NY -- (SBWIRE) -- 02/14/2018 -- Driven by growing popularity across the globe and steady adoption by the F&B industry, global tahini market volumes are estimated to surpass 314 thousand tonnes in 2016, up from nearly 305 thousand tonnes in 2015. According to the latest report published by Persistence Market Research titled "Global Market Study on Tahini: Paste and Spreads Product Type Segment Projected to Remain the Largest Segment During the Forecast Period," global volumes are projected to reach 423,854 tonnes in 2025.
"Besides the availability of myriad flavors, rising adoption by local eateries are most likely to impact the global tahini market."
Growing popularity of authentic Middle Eastern food flavors is expected to escalate the demand for tahini-based products, such as hummus and tahini spread. The surging significance of social media marketing will play a pivotal role in the promotion of tahini and derived products. Emerging tahini applications in hummus, butter and spreads, halva, salads, bakery products, toppings, and traditional Middle Eastern recipes such as Baba Ghanoush will also influence the market favorably.
By product type, tahini paste and spreads will witness the highest demand
Paste and spreads segment will account for over 55% share in terms of revenues by 2025
Desserts and sweets segment, aggravated by growing popularity of halva, will maintain a market share of over 25% during the assessed period.Sustained consumption of tahini dips and sauces will fuel the sauces and dips sub-segment, capturing over 18% market value share.By distribution channel, major tahini sales will be directed through exports.
Conventional retail will lose its market share over 2015-2025; from over 37% market share in 2015, this sub-segment will settle at around 34% in 2025. Modern trade is expected to witness decent growth, accounting for a revenue share of over 29% by 2025 end. Exports will, however, exhibit the fastest growth in terms of a distribution channel. With over 20% share of the revenues, this sub-segment is anticipated to reach US$ 465.9 Mn with a promising CAGR of 6.1%. Considering product size, the tahini market is projected to gain the highest traction in the 50-150 gm size sub-segment.
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With over 56% value share in 2025, the 50-150 gm size sub-segment will reportedly reach a consumption of around 243,189 tonnes. Above 150 gm size sub-segment is likely to witness an uptick over the forecast period, capturing a considerable 28% market value share in 2025
Below 50 gm product size will be the fastest growing sub-segment at 5.9% CAGR. Depending on the production process, industrial production process will remain dominant over conventional process.
With a slight setback from 76% share in 2015 to around 73% share estimated by 2025 end, industrial production process will witness moderate growth with a CAGR to the tune of 5.3%
Conventional process will experience significant growth over the forecast period.According to Persistence Market Research's regional analysis, Western Asia will continue to be the largest market, whereas GCC will emerge lucrative by 2025 end.
West Asia, identified as the most lucrative market for tahini, will predictably cross US$ 608 Mn by 2025 end, accounting for maximum revenues in the global market.GCC countries will exhibit the fastest growth at 5.9% CAGR, primarily driven by Kuwait, UAE, and Saudi Arabia. GCC tahini market revenues will reach around US$ 202 Mn by 2025 end.North Africa, followed by the U.K., are projected to grow moderately at respective CAGRs of 5.7% and 5.4%.
New Production Plants on Key Players' Agenda
Dipasa International S.A., Sunshine International Foods, Inc., Kevala International LLC, Joyva Corp, Premier Organics, Haitoglou Bros S.A., Halwani Bros. Co., Prince Tahina Ltd., El Rashidi El Mizan, Al-Wadi Al-Akhdar S.A.L, Carleys of Cornwell Ltd., Balsam Tahini, Ismail Termurcugil, and Alseedawi Sweets Factories Co. constitute some of the key players in the global market for tahini. While major export opportunities lie in Asia and North America, a majority of leading players are based in the Middle East and North America. Halwani Bros. Co. and Haitoglou Bros. are top Middle East companies, whereas Joyva Corp, Dipasa, and Kevala Int. are the key North American players. Alwadi Al Akhdar's new factory in Lebanon is due in 2017 and Sabra Dipping Co. will soon double its tahini hummus production capacity.
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