Tahini Market Share

Tahini Market Share Analysis

GROWTH OF THE ORGANIZED RETAIL SECTOR IN EMERGING ECONOMIES

The rise in economic development, a growing middle class, and increased migration from rural to urban areas have welcomed international retailers into emerging economies. This phenomenon has spurred the expansion of retail outlets in countries like India, China, Malaysia, and South Africa, contributing to the growth of plant-based foods, including tahini. Notably, China has seen a surge of new entrants in cities such as Hong Kong, Beijing, and Shanghai due to its economic growth. In South-East Asia, Singapore is witnessing increased growth in the packaged food and beverages market, driven by a preference for convenient one-stop shopping. The retail market in India, as per the India Brand Equity Foundation (IBEF), is projected to grow by 60%, reaching USD 1.1 trillion by the end of 2020. This growth is attributed to rising per capita incomes, improved digital connectivity, and lifestyle changes among the middle class. Online retailing has gained popularity as a distribution channel for groceries in these emerging economies, providing manufacturers with the opportunity to expand their customer base. For instance, China reported an online retail turnover of approximately USD 746.9 billion in December 2016, marking a significant increase from the previous year. Consequently, the growth of organized retail in emerging economies is expected to drive increased sales of tahini.

BRAND POSITIONING

Consumer spending habits are influenced by brand loyalty and recognition. Consumers tend to choose brands that they trust and that resonate with their needs. In the current market, consumers prefer branded tahini products over non-branded alternatives, creating a challenge for new entrants trying to establish themselves. New players in the market face hurdles like significant capital investments to set up their businesses, establish brand positioning that captures consumer attention, and offer distinct product lines. Additionally, capital is needed for advertising and promotional campaigns to create a strong brand image. Therefore, new entrants are likely to encounter challenges in their growth journey within the global tahini market due to these entry barriers.