Middle East & Mediterranean Tahini Market Will hit at a CAGR of 5.7% from 2014 to 2020
Future Market Insights has announced the addition of the “Tahini Market: Middle East and Mediterranean Industry Analysis and Opportunity Assessment 2014 - 2020” "report to their offering.
Tahini has become a choice of ingredient for various food processing companies/ manufacturers owing to its diverse functionalities. The particular market has become even more important because of burgeoning demand for hummus/hommus and Baba ghanoush in which tahini is a major ingredient. It can be easily formulated in any food, ranging from dips/sauces to sweet spreads and halva.
The Middle East and Mediterranean tahini market is estimated to value at US$ 783.9 Mn in 2014 and expected to reach 1,081.7 Mn by 2020, reflecting a CAGR of 5.7% during forecast period (2015-2020).
The market has been accessed by product type as paste & spreads, halva & other sweets, and sauces/dip. Sweet & savoury spread was the largest segment in 2014 by type accounting for more than half of the i.e., 51.9% market share.Representing a promising CAGR of 11.8% between 2015 and 2020, sauces & marinades is expected to be the fastest growing segment. The market is also segmented on the basis of distribution channel, wherein conventional retail stores represented 41.9% of tahini products sold in these countries.
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Tahini Market in Middle East & Mediterranean
Geographically, the market is segmented into four regions namely Middle East excluding GCC (Turkey, Israel, and Lebanon), North Africa, GCC and Mediterranean Europe (France, Spain, Italy and Greece). Middle East excluding GCC and Mediterranean Europe together constituted more than 69% of the market share in 2014 which is expected to remain stable by 2020. The large market size of Middle East excluding GCC is attributed to robust export of tahini in the region. The domestic consumption is rising moderately, however, exports are largely responsible for the inflated market size. Major growth is expected to come from Mediterranean Europe and GCC. Mediterranean Europe is projected to increase 190 BPS between 2014 and 2020, while Middle East Excluding GCC is expected to lose 240 BPS.North Africa is the third largest market with 16.8%, whereas Egypt is the most potential growth market in North Africa.
Major drivers fuelling the growth of this market are burgeoning demand for authentic Mediterranean and Arabic food, greater inclination towards seed based spreads, robust exports and upgraded technology to produce innovative products for the demanding customers. Due to strategic location Turkey, Greece and Israel have high export turnover. The U.S., Mexico, Brazil, China, India, GCC, Iraq, Russia and UK are preferred location for export where demand of Tahini is continuously rising. In addition, most of the mature markets of Euro Mediterranean countries are hit by Euro crisis and thus, people prefer to eat home cooked food, thus sale of spreads and dips is on rise in these regions.
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Middle East & Mediterranean Tahini Market: Key Players
Key Middle East & Mediterranean players in the tahini market are El Rashidi El Mizan, Al-Wadi Al-Akhdar S.A.L, Halwani Bros. Co., Haitoglou Bros S.A. and Prince Tahina Ltd. Most of the major players are based in Middle East and they are adopting various go-to-market strategies to expand their market share in this growing tahini market.
The report also includes the end-user analysis of tahini market by surveying retailers, distributor and manufacturers who gave the real-time information about the market dynamics and product movement. This gives an in-depth understanding to the reader about the product and its current situation in domestic and international market. According to all the respondents, consumption of tahini through sweet/savoury spreads is highest as compared to sauces, dips & spreads, and bakery/confectionary.
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