Gulf’s FMCG sector to remain buoyant despite economic downturn
FINE keen to capitalise on robust regional retail industry which is expected to hit USD 500 billion by 2010
FINE, the market leader in the Middle East’s hygienic paper industry, expects to benefit from what it predicts will be another productive year for the Gulf’s fast moving consumer goods (FMCG) sector in 2009 and sustain its impressive performance from 2008.
The regional FMCG market has not been as affected by the economic crisis as other industries, although there is a consumer trend towards more economical products. Expectations that the Middle East’s retail sector overall will be worth USD 500 billion by 2010 have fueled a positive outlook among the Gulf’s FMCG companies, more so as the Gulf countries account for more than 60 per cent of total retail in the Middle East. FINE has been one of the stronger performers in the FMCG segment, posting a solid 15.17 per cent growth in 2008 to maintain its market leadership in the toilet roll and facial tissue segment of the hygienic paper industry.
“FINE is in a very good position to post another strong year as we maintain a wide range of products which cater to all income levels and consumer types. What we want to focus on in 2009 is to offer more tangible value for our products which can lead to significant savings. We also intend to further enhance our customer services, and create products which have high levels of environmental friendliness,” said Peter Janho, Chief Area Officer for the Arabian Peninsula and Iran, FINE.
In 2008, FINE held 22 per cent of the total UAE hygienic paper market, with facial tissues acquiring 21.35 per cent, toilet paper 23.31 per cent, kitchen towels 13 per cent and baby diapers 10 per cent. The company aims to further boost its share through the recent introduction of its Finee brand of high quality baby diaper, a segment in which FINE has steadily strengthened its market presence. FINE also constantly offers volume deals to provide customers with added value. It has been consistently included in the Forbes Arabia Top 40 Arab Brands list amoung the top 10 brands in the Middle East, affirming its status as a major household name in the hygienic paper market.
