The markets in UAE are on the robust and maintainable growth trajectory. However, the economy has faced volatility throughout the recent past years owing to the proficient growth in foreign direct investment, increment in investments in infrastructure, negative repercussions of the global economic slowdown, 100% ownership in the few sectors and fall in the oil prices.
Additionally,
tourism is one of the greater non-oil sources of revenue in the UAE, with
some of the world’s most exclusive hotels being positioned in the UAE. A speedy
construction boom, a broadening manufacturing base, and a prosperous services
segment are supportive the UAE spread its economy.
The
UAE is a predominantly import-oriented market. The highest import
products of the country comprise Jewellery, Electronic Products, Automotive
Products, Refined Petroleum and Gold. The country is not a manufacturing hub
and is therefore majorly contingent on imports for Retail and Consumer Products
as well. The primary import origins for the country are China, India, US,
Germany and the UK.
Whereas,
the UAE Industry Market Reports of
Ken Research advises that Nutritional Supplements market in UAE grew at a
greater single digit growth rate over the calculated period of 2013-2018. The
market growth was assisted by the growing health awareness, government
initiatives, growth in the personal disposable income of the people, augment in
ageing populace, and preventive nature of the age group (25-45 years). The
market was witnessed in the late growth stage and will endure to remain so in
the reviewed period of 2018-2023.
An
alteration in consumption trend has been witnessed in the UAE health and wellness
industry, wherein the consumers are aiming more on the preventive healthcare
from taking health supplements in the old age to a movement in increasing
consumption of supplements in the earlier ages in order to safeguard them from
permanently relying on pharmaceutical drugs. Nutritional Supplements are aligning
itself as natural and healthy alternative to traditional medicine around the
country.
Whereas,
UAE lubricant market
is at mature stage. Domestic and international players have provided to the
requirement of lubricants that led to augment in market revenue. Synthetic
lubricants which have observed an augment in requirement as they deliver the
better protection to engine and machinery and increment in engine performance
in changing conditions. The growth in exports till the year 2015 was
principally attributed to augment in requirement for lubricants from importing
countries accompanied by increment in crude oil prices. However, post 2015, the
market has considerably deducted owing to effects of oil slump which led to
decrease in the prices of lubricants.
Nonetheless,
the baby food market of UAE is still in its growth stage. The market presented
a strong competitive scenario where international players that control majority
of the stake are constantly trying to augment their prevailing market share.
The UAE Baby Food market
has majorly been an import registered market. The market is receptive to
newness and revolutions for instance, camel milk-based baby food products and
halal baby food products have obtained a lot of acceptance in the country.
Despite the fact that government is motivating the breast feeding among new
mothers and economic impact owing to oil price shock of mid 2014 that continued
till 2015, the baby food market has shown dependable growth.
The
key players around the UAE market are effectively functioning more actively for
leading the highest market growth and registering the great value of market
share around the region during the near future by spreading the awareness
concerned to the respective goods and services, establishing the several
research and development programs, implementing the policies of profit making
and expansion strategies and delivering the better consumer satisfaction.
For More Information, refer to below link:-
Best Market Entry Strategy for UAE
Related Reports
Contact Us:-
Ken Research
Ankur Gupta, Head
Marketing & Communications
+91-9015378249
No comments:
Post a Comment