GCC food market by consumption is forecasted to reach 51.28 million MT in 2025, experiencing growth at a CAGR of 3.15% during the period spanning from 2021 to 2025. Growth in the GCC food market was due to the rising population, increasing awareness of healthy eating habits and increasing food consumption. However, the market growth would be challenged by increasing food prices, unfavorable climatic conditions and increase dependance on food imports.
GCC food market by production was valued at 13.65 million MT in 2020, experiencing growth at a CAGR of 1.92% during the period spanning from 2016 to 2020. Growth in the production was due to the various initiatives taken by regional governments to boost production through implementing organic farming, and artificial and technology-enabled processes across the food value chain. The market is anticipated to experience certain trends like upsurging demand for organic food, technological advancements aiding food production, increase in demand for packaged and convenience foods, key developments to improve food supply and, major merger & acquisition deals in the GCC food industry.
GCC food market can be segmented into the following regions: Saudi Arabia, UAE, Oman, Kuwait, Qatar and Bahrain. In 2020, the dominant share of market was held by Saudi Arabia. Saudi Arabia is home to a population with significant levels of wealth, and high disposable incomes. These factors would escalate the consumption food industry in Saudi Arabia.
Scope of the report:
• The report provides a comprehensive analysis of the GCC food market with potential impact of COVID-19.
• The major regional markets by consumption and production (Saudi Arabia, UAE, Oman, Kuwait, Qatar and Bahrain) have been analyzed.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (Dubai Refreshments PJSC, Al Islami Foods, IFFCO International Foodstuffs Co. LLC, National food industries company Ltd., Al Ain Farms, Oman Food Investing Holding) are also presented in detail.
Key Target Audience:
• Retail Manufacturers
• Raw Material Providers
• End Users (Consumers)
• Investment Banks
• Government Bodies & Regulating Authorities