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"Product of the Year" Pinar Sees Strong Potential in 2015
Dubai, United Arab Emirates
Labneh was one of the fastest-growing dairy products in the GCC in 2014, and executives at Pinar Labneh - the Turkish brand which is the current market leader across the region - believe that 2015 will be one of the best years to date, based on sales so far this year.
The current value of the region's labneh market is estimated to be about USD 200 million, and sales are rising as people are drawn to the health benefits and flavor of the dairy product.
Sales have been particularly dynamic in Saudi Arabia, Kuwait and the UAE: Pinar Labneh currently holds 40%, 51%, and 27% market share in the UAE, Kuwait and Saudi Arabia respectively, according to an AC Nielsen retail audit.
Arda Cenk Tokbas, the General Manager of HDF FZCo, the regional office of Pinar Food & Beverage Group, explains: "Labneh is becoming increasingly popular in the region, particularly as people look for dairy products that are natural and free from additives. Pinar, which was first introduced in Kuwait more than 30 years ago, has become the best-known labneh product on the market, and we're seeing huge demand across a range of demographic groups."
Pinar's status as the most popular labneh product was confirmed in February, when Pinar Labneh received the Labneh product of the year at the "Product of the Year" award in Dubai.
It was the first time that the Product of the Year was awarded to a brand in the labneh category. The esteemed 'Product of the Year' was first awarded in France in 1987 and the annual award's global footprint has grown to include 42 countries over the past 28 years.
Pinar's Turkish Labneh received the award on the basis of its attractiveness, satisfaction and innovation, winning the popular vote, in an independentconsumer survey of 3,600 households,conductedby TNS across the six Gulf countries.
On receiving the award, Mr. Tokbas said: "We are so proud to win such an important award. We would like to thank all of our colleagues and business partners both in the GCC and Turkey, who have contributed to this success. We are also thankful to all our consumers in the GCC for the trust and the confidence they have shown in our brand and our products."
Pinar has garnered a reputation for being innovative and first-to-market with a number of high-quality products within dairy category. It was the first brand to introduce Turkish Labneh to the GCC region and has launched long shelf-life labneh and flavoured labneh products in recent years.
Paying close attention to consumers' needs, the brand has also introduced innovative packaging, including small portion sizes and family-size buckets.
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About Pinar
Pinar, a subsidiary of Yasar Holding, is a well-known F&B manufacturing company from Turkey.HDF FZCo, also a subsidiary of Yasar Holding, established in Jebel Ali Free Zone, Dubai, UAE, is the regional office of Pinar Food & Beverage Group, looking after all sales and marketing activities across GCC countries. Mr. Arda Cenk Tokbas is the General Manager.
About Product of the Year
Product of the Year Gulf 2015 is the first-of-its-kind independent and prestigious award that recognises excellence in innovation in the consumer goods sector and is the only one of its kind that is voted 100% by consumers themselves. The Product of the Year label is renowned across 42 countries with the same purpose: to guide consumers to the best products in their market and reward manufacturers for innovation. The Product of the Year accepts entries every year from consumer packaged goods that demonstrate innovation and were launched within the previous 18 months.
Entered products are then placed into specific categories such as food, beverages, personal care, household care, etc.Consumers give detailed feedback on the products based on the three measures - attractiveness, satisfaction, and innovation, with a product then being chosen as a winner in its category through a nationally representative face-to-face study across the 6 GCC states.
The research is conducted in partnership with TNS, a world leader in market research across 3,600 households in the GCC.
© Press Release 2015
