Tuesday, May 22, 2018

Saudi Arabia Education Industry is Expected to Reach USD 14.1 Billion by 2022: Ken Research

Saudi Arabia Education Market by Sectors (Higher Education, K-12 Education, Vocational and Technical Training, E-Learning, Vocational Training and Test Preparation Education), Saudi Arabia K-12 Education Industry by Level of Education (Primary, Intermediary and Secondary), by International and Domestic / Local Schools, by Type of Schools (Government and Private), Saudi Arabia Higher Education Industry by Type of Universities (Government, Private, Others), by Gender (Male and Female), Segmentation by Academic Degree (Bachelor’s, Average Diploma and Postgraduate), Segmentation by Field of Study (Business Management, Humanities, Islamic Studies, Main Programs, Health, Social and Behavioral Sciences, Informatics, Engineering and Others), by Region (Makkah, Riyadh, Eastern Province, Medina, Asir, Qassim, Jazan, Tabuk, Hail, Al Jouf, Al Baha, Northern Border Area and Najran), Saudi Arabia Teacher Training Industry by Nationality (Saudi and Non-Saudi), by Type of Institutes (Training Institutes, Technical Colleges), Saudi Arabia E-Learning Industry by End Users (Higher Education, K-12 Schools, Corporate Sector and Others), by Type of Services (Content Services and Technology Services), Saudi Arabia Test Preparation Industry by Types of Tests (TOEFL, IELTS, GMAT, GRE and SAT), Company Profile of Major schools in K-12  (Arrowad Schools, Bangladesh International Schools, British International Schools, Pakistan International School, Al Hussan International Schools, International Indian Schools, My Little School International, American International School Riyadh, British International School Riyadh, Advanced Learning Schools, Al-Faris International School, Al Hussan International School Riyadh, Manarat Al Riyadh-International Section, King Faisal School, Al Forsan International School, Al Yasmin International School and Rowad Al Khaleej International School Riyadh), Higher Education University (King Faisal University, King Abdulaziz University, Imam Muhammad Bin Saud Islamic University, General Organization for Technical and Vocational Training (Technical and Vocational Training Corporation) and Umm Al Qura University), Vocational and Technical Training Player (Technical and Vocational Training Corporation), E-Learning and Test Prep Centers (Alwasaet, New Horizons, Edraak, Integrated Solutions for Business (ISB), Board Middle East (BME), Nafham, Harf Information Technology, Smartway, Rwaq.org, Edutacs, edX, Score Plus, English Gate Academy, Inlingua, Capstone Learning, KASCO, AMIDEAST and British Council)
Ken Research in its latest study, Saudi Arabia Education Industry Outlook to 2022 - by Higher Education, K-12 Education, E-Learning, Vocational Training, Teacher Training Market  and Test-Preparation Education believe that focus on collaborating with government educational institutions, emphasis on bilingual courses and offering vocational services, which can assist the people in getting employed will aid the education market. Developing E-Learning Portals to meet the growing demand will have positive impact on market. Saudi Arabia Education market is expected to register positive CAGR of around 8.6% during the period 2017-2022.
  • The continuous rise in the school fee is estimated to be amongst the major reasons which are anticipated to drive the overall education industry in a positive manner.
  • Enhanced enrollments to all government, private and other higher education colleges which offer specialized courses are expected to drive the industry revenues.
  • The 2030 vision of the government for thriving economy is expected to support the development of universities and colleges.
Significant budget allocation to education sector of the country in 2017 is expected to assist in the development of education industry, thus leading to the growth of all education sectors in Saudi Arabia. Private players entering the space with more numbers of tie-ups between the government universities and global players are further anticipated to boost the industry revenues due to increased enrollments to colleges in Saudi Arabia. Increasing number of organizations offering scholarships to students who wish to study abroad are projected to fuel the enrollments and revenues of the test preparation education sector, thus having a positive impact on the overall industry revenues. The increased demand for higher education in the Kingdom is anticipated to boost the fee over the long term, thus making people pay more for higher education services in the country. The increased expenditure of the people is expected to surge the revenues of various colleges and universities operating in the space.
The industry is also expected to drive positively due to increasing adoption of learning management systems by the growing corporate and education sector. The increasing use of modern technology as a part of e-learning sector is projected to benefit the education industry during the long term. The education industry in the Kingdom is estimated to witness surging revenues due to the 2030 vision of thriving economy which focuses on educating more people for the development of the nation during the long term. Continuous emphasis of the government and private authorities to enhance vocational skills in Saudi nationals is anticipated to expand the training and technical institutions, thereby resulting in a positive growth of the industry.
For more information on the research report, refer to below link:
Related Reports by Ken Research:
The UAE education market will grow at a considerable CAGR rate thus exceeding USD 6.7 billion by 2018 due to the increasing number of students and increase in tuition fees
The education market in India is one of the largest education systems globally which has registered a robust growth rate over the period.
The report provides a comprehensive analysis on various aspects such as market size of pre-primary, primary, secondary and higher education sector on the basis of learners, educators.
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-124 423 0204
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Global Luxury Furniture Market: Ken Research

Introduction: Luxury Furniture was something that only the wealthy could usually afford and primarily still is, although there has been significant increase in the capacity for those who can afford to obtain luxury furniture. Rising disposable income and the effect of cultural globalization have boosted the demand for luxury furniture and moved the demand center from the hospitality sector to the homes of individuals. While the hospitality sector was the predominant market for luxury furniture, there is now an increasing desire for consumers to purchase luxury furniture. This is further supplemented by the growing use of luxury furniture in Spas which is one of the key markets for industrial sale of luxury furniture due to the high reliance on aesthetics.

Market Overview: The luxury furniture market is expected to grow significantly in the upcoming period with the market valued at USD 23 Billion in 2017 and to be worth over 30 Billion by the end of 2023. This gives it a modest CAGR of 4.6%. The market is poised to grow faster beyond 2025 owing to increasing standards of living and an expected growth in consumer disposable income.  A major demand segment in luxury furniture is the use of art based furniture and recycled furniture, both of which are expected to be worth over USD 2 Billion by 2020. The luxury furniture market is expected to be one of the key drivers behind the growth of the furniture market.  With increasing emphasis on design and comfort, luxury furniture is poised to have major increase in industrial as well as commercial demand. The main channels for sale also play a crucial role as most luxury furniture is unique and the originality becomes a major selling point, hence, brands focus on the extent of differentiation they can offer in their design aiming to create design that cannot easily be replicated or to use materials that are rare for the construction of the furniture. Primary sales channel works through the distributor as many times, manufacturers deal with industrial sales majorly. Although the manufacturer winds up having higher margins despite mostly having lower prices than the distributor. Although the largest contributor to the market will be in the European region, the market is expected to experience high growth primarily in the Asia pacific and the Middle East region. Emerging economies are expected to be participants in the luxury furniture market in the long term

Key Drivers: The main drivers behind the luxury furniture market in any region are relatively similar, the primary driver being the increase in disposable income. Growing changes in lifestyle along with cultural and financial growth of the population have led to the market demand for more unique and authentic furniture which has originality attached to it. Another key driver is the increased demand from the hospitality sector owing to the increase in construction of luxury hospitality facilities in Asia and Europe. The other key driver is the emergence of the furniture art market where the entire focus is on the design of the furniture.

Competition Scenario: Some of the key players in the global luxury furniture market include Muebles Pico, Nella Vetrina, Laura Ashley Folding PLC, Henredon Furniture Industries, Inc., Giovanni Visentin srl, Iola Furniture Ltd., Turri S.r.l, Herman Miller, Inc., Heritage Home Group LLC and others. Companies born to serve the made to order requirements are now opening their stores in different geographical locations to provide buyers creative designs that go well with time. Besides this, many furniture manufacturers are partnering up with artists or interior designers to create and offer a luxury range of furniture.

Opportunities: There is a major opportunity for authentically designed furniture which is commercially viable. Although there are antique pieces of furniture, due to the requirement of functionality unlike wine, most furniture required to be used does not increase in value with time. The primary selling point for furniture luxury is the functionality and the design coupled with the extent of comfort. Most luxury furniture is manufactured using wood and that has been the major driver of the wooden furniture market being worth over USD 6 Billion in the year 2017.

For more information, click on the link below:
https://www.kenresearch.com/tag/consumer-products-and-retail/furniture/25.html

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Ken Research
Ankur Gupta, Head Marketing & Communications
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Global Educational Market Outlook Report : Ken Research


Overview: Recent Education Market Research Reports estimate that the global educational market will be one of the fastest growing markets owing to increased penetration of internet and growing device based accessibility to educational material. As per recent research conducted for the white house report, the education market for the United States alone is estimated to be worth around USD 1.3 Trillion as of late 2016 with a majority of the expenses being made towards the K-12 sector with roughly USD 670 Billion and the Higher education sector taking the second largest expense level of approximately USD 475 Billion. There are about 100,000 public schools, 30,000 private schools, and roughly 4,000 charter or other schools in the K-12 space in the U.S. Education is one of the most significant expenditures to the Government in the U.S and is of high importance, contributing about 9% to the GDP in 2017, it is the second biggest individual market in the U.S, right behind healthcare. Although the market size is large, U.S is one component of the total global educational market which has grown from its value of USD 2.5 Trillion in 2005 to over USD 4.4 Trillion as of 2017. The market is expected to experience high growth rates for the upcoming years as well with a major investment made into EdTech (Educational Technology).
E Learning: The global market for online education has an approximate size of USD 160 Billion as of 2017 and is expected to grow at a rate of 29% for the period 2017-2023. There is massive growth in the Education Technology sector caused by increasing availability of online platforms, higher rates of adoption of technology and growing student based customization offering convenient and effective education to students. The Industry for online education is increasing rapidly with investment into Educational Technology growing year on year. The investment into educational technology is growing with an investment of USD 8.1 Billion in the United States alone for the year 2017. There has been growing investment in China as well with 2017 investments in Educational technology toppling USD 1.2 Billion.  Research estimates the Educational Technology Device market to be worth about USD 18 Billion with the total market to be worth USD 275 Billion by the year 2020. By 2025, the global market for E learning is expected to be worth USD 325 Billion with a medium to high growth across different segments. By component, the hardware market is expected to grow with a 27% CAGR. By product type, the content market is expected to grow at 28% CAGR from 2017 to 2023. By application, the market for higher education is expected to grow with a CAGR of 26.71%. Geographically North America dominates the market in terms of value and size followed by Europe although the Asia Pacific is expected to be the fastest growing market.
Trends:   The most significant change that is expected to occur is the shift of the classroom form physical to online. There are a majority of online based correspondence and distance courses that exist in a large number of universities today and the number is expected to grow with an increase in courses and better quality material over the upcoming years.  There is also an expectation of integrating artificial intelligence and machine learning into the Educational Technology platforms which would provide students with greater customizability and personalization on their courses for better and more effective learning. The rapid growth of platforms is bringing about the Software as a Service (SaaS) model integration into education. Although the largest customer base is in the K-12 Sector, higher education is expected to be the major contributor in terms of customer value and for revenue to the market. There is also an expected increase in the innovations being used for educational purposes with the entry of game changing technology like Artificial intelligence and virtual reality into the learning environment for students and skilled professionals. The final major trend that is expected to boost the growth of the education market is the entry into the sub sector of adult education which is forecasted to be the biggest in terms of opportunity owing to a complete lack of competition in the sector.  These developments are expected to boost education into one of the most critical sectors of economic development globally
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Ken Research
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Malaysia Tiles Market is expected to be dominated by Floor tiles in 2021 with more than 75% revenue share: Ken Research

Despite the global commodity price impact and financial market volatility, Malaysia's economy remained strong owing to a diversified production and export base, strong balance sheet position, flexible exchange rate, responsive macroeconomic policies and deep financial markets. The Malaysian economy expanded by 4.2% in the first quarter of 2016. Construction industry in the country has observed a robust growth rate in last five years. The value of the construction industry was recorded MYR 140.0 billion in 2015, which increased to MYR 166.0 billion in 2016. The growth in the construction industry has tremendously impacted the tiles market in the country. Also, it has been forecasted that the construction sector is expected to grow by 8.0% in coming year and will reach at MYR 170.0 billion in 2017; this will further boost the demand of tiles in the country.
Tile manufacturing industry in Malaysia shows a different picture than the one existing 20 years ago. In earlier times, people had cemented floors in their houses and other places such as office, retail outlets and others. With the rise in standard of living, tiles for floors were introduced in the market which had quality as well as aesthetic beauty. In early years, the tiles were used only on the floors by the customers including the residential sector, commercial sector, hospitality and healthcare sector and others. With the changing time and introduction of new variants in the tile industry, the market has witnessed a sharp peak in the sales of wall and roof tiles.  Moreover, the further expansion of product portfolio of the tile companies has led to increase in the revenues of the industry. The companies introduced variants such as 3D tiles, carpet tiles and others in the market.
The replacement demand for tiles had increased over the years by existing residential, commercial and government units in the country which had positively impacted the tiles industry. The rising export of the Malaysian tiles due to high demand in the international market has further supported the revenues of the industry. The tiles market has enhanced over the years with the entry of new products in the country. Also, it has been observed that the Malaysian population has gradually shifted from cement and stone floors, wall paints and other materials to floor tiles, wall tiles and roof tiles.
Most of the newly constructed houses and commercial complexes are using tiles for flooring due to ease of installation and easy availability in variety of forms based on the requirement of individual product. The prices of porcelain tiles are higher as compared to other types of tiles which cause higher revenue generation by this segment. Porcelain tiles can be used for both indoor and outdoor application and can be used on floors and exterior walls. In cases of high foot traffic, high moisture content and when the people do not have high pricing issue, porcelain is preferred choice. This led the porcelain tiles to contribute higher share in the tiles market in Malaysia in 2016.
The southern and central region of Malaysia dominated in total sales of tiles in the country in 2016 owing to the high number of commercial and residential buildings in these regions. Places including Meleka, Kuala Lumpur, Bahu, Johar and others fall under this category. The southern region of the country is the major hub for the manufacturing of tiles and hence attributed to the revenues of tile industry in Malaysia in 2016. The increase in the number of residential units created a huge demand for the tiles in the country. In addition to this, the residential units have a constant demand of the replacement tiles which attributes to the tile industry in the country.
Malaysia tile industry is saturated and fragmented in nature with various organized and unorganized players operating in the space. Established players are already having strong presence in the market and hence new players can enter the market only when it is a big brand or there is a big merger or acquisition. The big players concentrate on the exports as well as domestic market whereas the small players cater to the domestic demand for tiles in the country. The parameters used for competition between the companies include quality, variety, price, location of plant and branding. Location of plant is very important so as to increase sales and decrease transportation cost. Guocera, MML, Niro and White horse focus on quality and hence are more expensive. They also invest significant portion of revenue on branding and advertising.
The competition in the Malaysia tile industry is very high and the companies have developed various strategies to compete. Few strategies include holding various events and promotions for its customers, strengthen manufacturing capabilities and enhancing its production plants, investing in technology to improve their quality and to keep innovating and launching new products designs, acquire other firms to expand its market and reduce production cost through research in raw materials to achieve higher financial results. The major firms in Malaysia Tiles market in terms of revenue include YI-LAI Berhad, White Horse, MML, Kim Hin Industry Berhad, Guocera, Seacera Group Berhad, Johan holdings and Niro Ceramic Group.
The market will increase in future owing to growing urbanization and changes in type of dwelling. The number of households is anticipated to increase by 2021 raising the demand for residential units, which will directly impact the tiles industry in the country. The incline in commercial spaces in future will lead to rise in the requirement of the tiles. Increase in number of hotels in coming years will affect the market positively. Latest innovations, new launches and replacement tiles are expected to trigger the demand for tiles in the country.
Key Topics Covered in the Report
Sales Tiles Malaysia
Guocera Malaysia Tiles
MML Tiles Market Malaysia
Ceramic Tiles Demand Malaysia
Wooden Flooring Market Malaysia
Architect Demand for Tiles Malaysia
Kim Hin Industry Tiles Sales
Ceramic Tiles Sales Yi-LAI
Puzzle Floor Tiles Market Malaysia
Niro Ceramics Tiles Revenue Malaysia
Tile Manufacturer Malaysia White Horse
For more information on the research report, refer to below link:
Related Reports by Ken Research
Contact:         
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204
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Saudi Arabia Education Industry Outlook to 2022-Ken Research

Ken Research announced its latest publication on “Saudi Arabia Education Industry Outlook to 2022- By Higher Education, K-12 Education, E-Learning, Vocational Training  and Test-Preparation Education” provides a comprehensive analysis on education sector focusing on segments such as K-12 Education sector, Higher education, Vocational and technical training, E-Learning and Test Prep Sector. Detailed comparative analysis of major players in education industry has also been provided. Various marketing analysis factors such as trends and developments and SWOT analysis are also added in the study. The future analysis of the overall Saudi Arabia Education Industry has also been discussed along with recommendations from analyst view. The stakeholders of this report include education institutes, schools, universities, training centers, companies involved in research, teachers and students in Saudi Arabia and the new entrants and venture capitalists who wish to invest in education industry in future.
Saudi Arabia Education Industry Overview
Saudi Arabia has been the largest market for education services in the Gulf Cooperation Council (GCC) region and accounted for growing number of total students’ enrollments in the GCC K-12 education system. Strong government support over the past few years has led to the continuous growth of education sector by inviting private players to enter the space. The three major organizations that oversee the operations of education market players in Saudi Arabia are the Ministry of Education, the Ministry of Higher Education, and the Technical and Vocational Training Corporation (TVTC). The education system in the Kingdom is as per the Education Policy Document, which was issued by the Saudi Council of Ministers in 1969. Several organizations of the government also function together to regulate and enforce the laws pertaining to the education system in the country.
Saudi Arabia Education Industry Size
The education industry in the Kingdom of Saudi Arabia inclined at a double digit CAGR during the period 2012-2017. One of the major reasons which boosted the industry revenues during 2011-2013 was the extension of King Abdullah Scholarship Program (KASP) in 2012, which inclined the number of enrollments to K-12 schools.
Saudi Arabia K-12 Education Market
The K-12 education industry of Saudi Arabia, in terms of revenues, has inclined at a double digit CAGR during the period 2012-2017. The extension of King Abdullah Scholarship Program (KASP) during 2012 encouraged the number of admissions to K-12 schools, as the most deserving students with distinguished academic records were offered scholarships to study in the world’s best universities. This raised the demand for schools in the country, thereby adding to the revenues of the industry.
By Type of Schools (Public and Private)
The overall K-12 education industry in the Kingdom of Saudi Arabia has been majorly captured by the public schools operating in the country. There were over 24,000 public schools in the country by 2017. The growing demand for better quality education in the country has made private players to tap this sector over the years.
Competition Assessment in K-12 Education Sector
The K-12 education industry in the Kingdom has been dominated by the existence of public schools to boost the education sector of the country. Government schools focused on providing better quality education to compete with the private and international schools in Saudi Arabia. Private schools in the space compete in terms of offering quality education at various fee structures.
Saudi Arabia Higher Education Industry
The higher education industry of the Kingdom inclined at a single digit CAGR during the period 2012-2017. The establishment of new universities due to the increased investments in the education sector was the key contributor to the augmented revenues generated by the market players.
 By Type of Universities (Government, Private and Other Universities)
Government universities in the Kingdom of Saudi Arabia witnessed the maximum number of enrollments during 2017. King Faisal University, King Abdulaziz University, Imam Muhammad Bin Saud Islamic University and Umm Al Qura University were the top government universities with most number of students pursuing post-graduation, bachelors and other diploma courses from these universities in the country during the academic session of 2017. Private universities in Saudi Arabia offered almost similar number of courses and subjects to the students pursuing higher education in the country.
By Academic Degree (Bachelor’s, Average Diploma and Postgraduate)
Since, bachelor’s degree is the first step to higher education; this segment has witnessed the most number of enrollments, constituting more than 50% to the pie of 2017 academic session. More than 50% of the overall students who pursued higher education were enrolled to average diploma courses for the academic session of 2017. Universities offering post- graduate degrees witnessed the least number of enrollments during 2017, constituting less than 50% of the overall students continuing higher education in Saudi Arabia.
By Field of Study
General courses on business and management helped the students in getting industrial knowledge along with exposing them to real life cases in the business world. The traditional course in the area of humanities was also considered as the top priority courses during 2017. Government institutes catered to most of the students enrolling to humanities course, which involved degrees in history, psychology, sociology and philosophy.
Competition Assessment in Higher Education Sector
With more number of universities getting included in the list of top universities in the Arab region, the higher education industry has witnessed stiff competition overtime. Efforts of the government to enhance the importance of pursuing higher education have made the players competent enough to offer quality education by hiring experienced faculty. Private universities in the Kingdom compete on grounds of providing education through highly qualified academicians at varied fee structures.
Saudi Arabia Vocational and Technical Training Industry
Emergence of Vocational and Technical Training: Saudi Arabia has been continuously working on improving its education system by inculcating the importance of learning with better quality services. Traditionally, technical and vocational training in the Kingdom was distributed between three governmental authorities. The vocational and technical training industry in the Kingdom of Saudi Arabia inclined from over 200 thousand enrollments during 2011 at a double digit CAGR during the period.
Competition Assessment in Vocational and Technical Training Industry
The rising awareness about skilled and technical courses in the Kingdom has resulted in stiff competition amongst the players operating in vocational and technical training industry. Offering advanced training sessions through the support of strategic tie-ups with private entities has led to the expansion of vocational centers headed by the government in the country.
Saudi Arabia E-Learning Industry
The e-learning industry in the Kingdom of Saudi Arabia inclined at a robust double digit CAGR during the period 2011-2017. The need for adoption and implementation of e-learning systems in education sector of the country was recognized to reduce the high unemployment rate of 5.8% during 2011. This led to the entrance of online education market players in the space which had an opportunity to cater the ready customer base.
By End Users (K-12 Schools, Higher Education Colleges, Corporate and Government Bodies and Others)
Adoption of e-learning in higher education colleges contributed the majority share to the overall industry revenues in 2017. E-learning not only helped the authorities in getting access to modern curriculum, but also assisted the students in learning about various other courses that were not offered in the colleges. The increasing numbers of K-12 schools in the Kingdom of Saudi Arabia were the second largest end users of e-learning technology during 2017. K-12 schools held the share in the revenues generated by the industry through various end-customers during 2017.
By Types of Services (Content Services and Technology Services)
Content services contributed a dominant share to the overall revenues generated by e-learning industry in the Kingdom during 2017. Content services were majorly demanded by the users in educational sector, wherein improvised and advanced instructional content was offered to uplift the public sector education in the country. Technology services, which typically include learning management systems (LMS), smart classes, and smart authoring tools, constituted in the overall revenues generated by the players operating in e-learning industry in Saudi Arabia.
Competition Assessment in Vocational and Technical Training Industry
The e-learning industry has witnessed rising number of players entering the space with various kinds of educational services for students and professionals in the Kingdom. Introduction of modern curriculum of various universities on a single portal made market players have an edge in stiff competition prevailing in the industry.
Saudi Arabia Test Preparation Industry Segmentation
The focus of majority of the institutes is on training the students for GMAT, GRE, SAT, IELTS and TOEFL. This is due to the changing preferences of the people to shift abroad for continuing their education. The test preparation industry in Saudi Arabia is still in its growing stage and is dominated by the private sector establishments of both local and global players operating in the space.
By Type of Tests (SAT, IELTS, GRE, TOEFL and GMAT)
There were over 2,000 students enrolling to undertake SAT in 2017. Overall enrollments for SAT contributed least share to the industry revenues in 2017. The test preparation industry noticed a contribution of to the overall revenues from IELTS preparation classes in 2017. Students in the country enrolled themselves for TOEFL during 2017.
Saudi Arabia Education Industry Future Outlook and Projections
The Saudi Arabian education industry is projected to augment to 2022, registering a single digit CAGR during the period 2017-2022. The allocation of funds to education sector of the country in the 2017 annual budget is expected to assist in the development of education industry during the outlook period, thus leading to the growth of all sectors. The expansion of the Colleges of Excellence (CoE) by way of offering colleges by 2020 for vocational training programs is projected to drive the overall industry revenues due to rising demand for training and technical courses in the Kingdom.
For more information on the research report, refer to below link:
Related Reports by Ken Research:
The UAE education market will grow at a considerable CAGR rate thus exceeding USD 6.7 billion by 2018 due to the increasing number of students and increase in tuition fees
The education market in India is one of the largest education systems globally which has registered a robust growth rate over the period.
The report provides a comprehensive analysis on various aspects such as market size of pre-primary, primary, secondary and higher education sector on the basis of learners, educators.
Contact Us:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-124 423 0204
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Philippines Food Ingredients Market is dominated by flavors and Sweeteners accounting for almost 75% of the Total Market in terms of Revenues: Ken Research


The demand in Philippines food ingredients market basically comprises of various types of food ingredients such as functional food ingredients, sugar substitutes, flavors, specialty starches, preservatives, acidulants, enzymes, F&B starter cultures, and food emulsifiers. Robust demand for the packaged foods owing to the changing lifestyle, and the purchasing power of customers has majorly fueled growth for the food ingredients market in the Philippines.
The beverage industry in Philippines witnessed growth owing to consumer shift from traditional drinks to carbonated energy drinks and caffeinated beverages thus, driving the demand for flavor enhancers in the Philippines food ingredients market.
The flavors segment in the country dominated the Philippines food ingredients market. It has been observed that people in Philippines became bolder in their culinary adventures owing to increasing speed at which consumers are adopting new flavors. On the other hand, food colors, preservatives, fragrance and food ingredients such as acidulants, cultures, proteins, emulsifiers and co-emulsifiers, minerals, botanicals, carotenoids, cocoa liquor and powder, flavor enhancers, modified flour, PH / controlled salt, Polysaccharides & Oligosaccharides, raising agents and reducing agents collectively captured the remaining revenue share.
The adaptation of western lifestyle influenced by the food and processing services within the Philippines led to an increase in their import values from major destinations such as Europe, US and Japan. A young population heavily influenced by modern habits and food culture coupled with increasing demand for convenience can improve the quality of domestic food ingredients, hence leading to higher export values in near future.
The processed foods segment including meal replacement and packaged foods collectively dominated Philippines food ingredients market. Artificial sweeteners, synthetic Trans’ fats, artificial flavors, Monosodium Glutamate (MSG), artificial colors, high-fructose corn syrup and preservatives were majorly used in processed foods in the country. In 2016, the demand for clean label and natural/organic flavors and flavors free of artificial ingredients such as high sugar witnessed an increase owing to growing awareness regarding health and wellness among the Filipinos.
Natural, functional and convenient products that can deliver nutritional benefits without sacrificing taste continue to tap into major trends currently driving the thriving healthy beverage market in the Philippines. Flavor innovation coupled with the right message and aesthetic appeal, can provide the impetus to boost a stagnating category, create interest in an emerging sector and even drive a successful market entry for new or existing manufacturers in the Philippines.
Artificial sweeteners are low-calorie or calorie-free chemical substances that are used instead of sugar to sweeten foods and drinks. Philippines sweeteners market attained its highest revenues in the year 2016. Concerns about obesity and other health related issues plus sugar taxes in many countries including the Philippines have encouraged the market for non-caloric sweeteners. The food trend toward whole foods and natural products have also resulted in a growing demand for natural sweeteners made from herbs such as coconut sugar within the country.
Food colors play a significant role in the Philippines food additives market. They are often used in foods and beverages to incorporate a desired shade of color and improve consumer’s visual perception towards them. In 2016, the average price for food coloring such as egg yellow, green, strawberry red, chocolate brown, coffee brown, blue and orange was observed to be USD 3.0 per kg approximately; hence termed as affordable in the Philippines. Colors also affect the apparent level of sweetness. For instance, Filipino population perceives a strongly red-colored strawberry-flavored drink to be sweeter than a less strongly colored version.
Growing demand for processed foods, changing food consumption patterns and increasing disposable income are the major factors driving the demand for food preservatives in the Philippines. Food preservatives are used across beverages, snacks, bakery items, meat products are others during processing and packaging. A growing trend of consumer preference towards natural preservatives over synthetic preservatives was witnessed owing to the growing demand for natural and dietary foods and beverages, confectionery items.
Philippines food ingredients market is highly concentrated with the presence of manufacturers such as BNC Ingredients Corporation Philippines, TNC Chemicals Philippines Inc, Actron Industries Inc, NECO Chemicals Philippines Inc, Versa Group Philippines Corporation, DU Pont Philippines, New Flavor House Inc, SBS Philippines Corporation, Kerry Food Ingredients Philippines Inc and other players such as Achievers Food & Bakery Ingredients Corp and Applied Food Ingredients. Players operating in the food ingredients market which compete on the basis of pricing, brand value, production capacity, domestic manufacturing / import and others. Local tastes and modern interpretations of Filipino dishes has led to growing popularity of Filipino cuisines over the globe, thus, driving the demand for mostly used food ingredients such as food flavors, sweeteners, food colors, preservatives and fragrance. Moreover, consumer shift from synthetic man-made to natural extracts / food ingredients led to high imports coupled with emergence of several natural food ingredients manufacturers in this sector.
For more information on the market research report please refer to the link below:
https://www.kenresearch.com/food-beverage-and-tobacco/general-food/philippines-food-ingredients-market/142452-11.html
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
0124-4230204

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