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The latest report by IMARC Group, titled “GCC Camel Dairy Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, estimates that the GCC camel dairy market size reached US$ 447.9 Million in 2018, registering a CAGR of around 2.5% during 2011-2018. Camel dairy products are gaining rapid popularity among health-conscious consumers owing to their higher nutritional value as compared to the conventional dairy products available in the market. These products are rich in iron, potassium, sodium, copper, zinc, magnesium, vitamin A and vitamin C. Their consumption aids in boosting immunity, preventing various medical conditions such as anemia, balancing cholesterol levels and treating food allergies. Since camels are one of the most commonly found livestock in the semi-arid areas of the GCC region, camel milk and its products are readily available across these countries.
GCC Camel Dairy Market Trends:
Owing to the busy lifestyle and rising disposable income, the sales of convenience foods have been experiencing a boost in the region. This, coupled with extreme average temperatures, has resulted in the lack of physical activities and negligible participation in sports activities among the masses. Consequently, obesity and diabetes have emerged as the most prevalent lifestyle diseases in the region. In order to combat this, along with the rising awareness about the various health benefits of camel dairy products, consumers across the regions are incorporating them in their daily diet. Apart from this, governments of the GCC countries have undertaken favorable initiatives to promote healthy eating habits. For instance, the UAE Ministry of Economy has provided a value-added tax (VAT) exemption certificate to Emirates Industry for Camel Milk and Products (EICMP), which is expected to create a positive outlook for the market. On account of the aforementioned factors, the market value is anticipated to reach US$ 661.2 Million by 2024.
Market Summary:
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