TheGCC and Qatar cooking oil market is recognized as a compact matrix ofconsolidated key companies. Organizations such as United Food Company, SavolaGroup, and Emirate Refining Company are some of the key players of the matrixof GCC and Qatarcooking oil market. Altogether, these organizations acquire atleast 75% of the market share by the end of 2015. In a market where thecompetition is extremely intense, many other companies are aggressivelyconducting research and development so as to introduce new product lines ofnutritious cooking oils. In order to sustain the tough competitionorganizations are investing heavily in promotional activities so as to extendtheir knowledge about their new products and launch them with lavishly.
As per themarket study conducted by Transparency Market Research (TMR), the GCC and Qatarcooking oil market is projected to grow at a staggering CAGR rate of 6.6% and7.4% respectively from 2017 to 2024. At this rate, the GCC cooking oil marketis to jump to $1736.1 million from $1103 million in the forecast tenure. On theother hand, Qatar cooking oil market is projected to translate the CAGR growthinto $122.2 million in the projected forecast period.
The GCCcooking oil market is segmented into various facets. By product type, themarket is fragmented into sunflower oil, corn oil, and palm oil. Out of thesesegments, the sunflower oil segment tops every other cooking oil marketsegment. The reason that this segment exceeds other segments owing to itsrising health concerns amongst end-users. Likewise, the Qatar cooking oilmarket is bifurcated on the basis of product type, package, and region. Themarket is expected to be owned by sunflower oil with a market share of 71.5% interms of revenue in forthcoming years.
Request Sample
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=15008
Region wisethe GCC is likely to excel better than other regions. This growth will be theoutcome of a large number of immigrants from countries like India and SriLanka, where cooking oil is extensively used in their traditionalcooking.
Whatare The Major Growth Drivers of Cooking Oil Market in GCC and Qatar?
The majordriving factor of the growth of the cooking oil market in GCC and Qatar is theincreasing demand for processed food. Extensive consumption of oil-basedpackaged food is yet another factor that drives the growth of GCC and Qatarcooking oil market. In order to fulfill this rising demand in the region,manufacturers are conducting various research and development activities. Thechanging lifestyle of the people and increasing disposable income of the publictends to change the eating habits of the people in the region. This yet againleads to the strengthening of GCC and Qatar cooking oil market.
More Trending Reports
On theother hand, rising tourism is playing a crucial role in the growth of cookingoil market in GCC and Qatar. As this influx of tourist bodes effectively forhospitality sector along with ancillary industries. This rising tourism hasdrawn attention of various hotel chain in the region from various region of theworld. This in turns supports the growth of GCC and Qatar cooking oilmarket.
What Restrains the Growth of GCCand Qatar Cooking Oil Market?
Since theregion shows exception growth in the future, every big fish wants to grab theopportunity. However, factors such as minimal production locally owing to theharsh climatic conditions and major political instability, the growth of GCCand Qatar cooking oil market gets hampered. The above-mentioned reasons lead tohigh dependency over imports again playing a crucial role in hampering thegrowth of the cooking oil market in GCC and Qatar.
Request Covid19 analysis on thismarket
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=15008
Anotherhampering factor for the GCC and Qatar cooking oil market is the involvement ofhigh capital in mediatory processes of extracting cooking oil. This as a resultrestricts small business to enter GCC and Qatar cooking oil market hamperingits growth. However, looking substantial growth in the demand for cooking oiland arrival of various international hotels in the region, the restraint shallnot be able to hold back GCC and Qatar cooking oil market in the forecastperiod.
Buy Now
https://www.transparencymarketresearch.com/checkout.php?rep_id=15008<ype=S
About Us
Transparency Market Research is a next-generation marketintelligence provider, offering fact-based solutions to business leaders,consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow,evolve, and mature. Our real-time data collection methods along with ability totrack more than one million high growth niche products are aligned with youraims. The detailed and proprietary statistical models used by our analystsoffer insights for making right decision in the shortest span of time. Fororganizations that require specific but comprehensive information we offercustomized solutions through adhoc reports. These requests are delivered withthe perfect combination of right sense of fact-oriented problem solving methodologiesand leveraging existing data repositories.
TMR believes that unison of solutions for clients-specificproblems with right methodology of research is the key to help enterprisesreach right decision.
Contact
TransparencyMarket Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
