Tahini Market Size, Share, Growth, Trends and Industry Analysis Reportby Susan Hill Business Consultant
The global tahini market size is expected to reach USD 1.77 billion by 2025 registering a CAGR of 5.2%, according to a new report by Grand View Research, Inc. Growing popularity of tahini products with ethnic Arabic flavors in developed countries, such as U.S., Germany, U.K., France, and Italy, is expected to spur the market growth. Moreover, increasing awareness about consuming healthy, nutritious, and organic food has propelled the product demand. Sauces & dips is expected to be the fastest-growing product segment at a CAGR of 5.6% from 2019 to 2025.
Changing dietary preferences owing to hectic lifestyle has fueled the demand for dips and sauces. Tahini dips and sauces add flavor as well as nutrition to the food products. Manufacturers are launching innovative products to cater to the increasing demand from the global food industry. For instance, in March 2018, Soom Foods, LLC launched two innovative spreading squeeze packets. The product is available in two flavors, original and chocolate sweet tahini halva spread.
Middle East & Africa generated the largest revenue share in 2018.Over the past few years, major companies in the region are adopting several marketing strategies, such as product launches, product portfolio and distribution channel expansion, and merger and acquisition, to cater to the rising demand for vegan, gluten-free, non-GMO, Kosher products. For instance, in April 2017, El-Raey Sweetness Halva Company launched a new product line in Badr City, Egypt with a production capacity of 900 tons per day.
Further key findings from the study suggest:
- North America
is projected to be the fastest-growing regional market at a CAGR of 6.8%
from 2019 to 2025
- The sauces
& dips product segment is expected to witness the fastest growth at a
CAGR of 5.6% from 2019 to 2025
- Key companies
in the market include Al Wadi Al Akhdar, El Rashidi El Mizan, Prince
Tahina Ltd., Haitoglou Bros, Halwani Bros. Co., Ltd., Carwari
International Pty. Ltd., Dipasa USA Inc., Kevala, Mounir Bissat Factories,
and SESAJAL S.A. de C.V.
- New product launches and production capacity expansion are expected to remain key marketing strategies for these companies
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Created on Dec 24th 2019 05:40. Viewed 193 times.