Mazola targets 25pc growth in 2 years
Riyadh, July 30, 2014
Saudi Arabia-based Mazola, one of the leading food product brands in the region, is targeting a 25 per cent growth in sales over the next two years.
The company is aggressively spreading its geographical footprint and point of sale stocks as study reveals a strong surge in food consumption across the GCC countries.
According to a research document by Alpen Capital, food consumption in the region will expand at a CAGR of 3 per cent, reaching 49 million metric tonnes by the end of 2017. Per capita food consumption for the GCC region is forecasted to reach 971 kg by 2015 and 983 kg 2017, attributed to the rapidly growing population in the GCC, increase in foreign tourists as well as the rising income levels.
From the food consumption standpoint, Saudi Arabia would continue to lead the region’s food sector accounting for close to 60 per cent of total consumption, while Qatar is expected to outpace that of other GCC countries followed by UAE and Oman.
A notable trend highlighted in the study is the changing consumption pattern across the GCC, with a shift to a protein-rich diet that includes meat and dairy products from a carbohydrate-based one that consists of staple food items such as cereals.
In line with this, Mazola is targeting a planned outreach, as all its oil products are rich in Vitamin E and help maintain a healthy cholesterol level. Mazola oil is naturally 100 per cent cholesterol free and is extracted from the germ of the corn to ensure best quality, a company statement said, adding that the Mazola mayonnaise range provides a healthy balance of dietary fats that are important for health and well-being.
Simon Gottfried, vice president of Basateen Foods Saudi Arabia – the manufacturers of Mazola products in the region, said: “As a company, we are eyeing a strong growth in the region, as we have a strategic plan in place which reflects our commitment to produce increased volumes of Mazola products and meet the snowballing brand share, product development and geographic expansion. No wonder, we are the World’s favourite cooking oil for over 100 years.” – TradeArabia News Service