The MENA region is the third fastest growing region for dairy and has overtaken Eastern Europe with a value CAGR of 4.9% over the forecast period as compared to a global performance of 2.3% over the next five years. The market in the region is unsaturated with per capita spend on dairy at just US$25 per head, the lowest in the world. This means that there is huge growth potential with improving efficiencies in cold storage in a developing retail environment for perishable food. With the exception of Iran, yoghurt and sour milk products has seen a strong performance across all markets.
In line with increased urbanisation, demand for on-the-go dairy solutions will continue to increase due to consumers having less time to prepare food, especially with female participation in the workforce on the rise.
*Source: Euromonitor International