Business formation Food and Beverage
Business Company Formation in Dubai Dubai

DUBAI CHAMBER ANALYSIS FORECASTS GROWING DEMAND IN UAE FOOD AND BEVERAGE BUSINESS SECTOR

Demand within the UAE’s food and beverage business sector is expected to gain momentum over the next three years, supported by the country’s fast-growing population, rising number of tourists, and expanding halal food market, according to new analysis from Dubai Chamber of Commerce and Industry.

The findings of the analysis were revealed during a briefing hosted earlier this week on the sidelines of Gulfood 2019. A total of 272 delegates representing 47 countries attended the event where they were briefed on new trends and business opportunities within the UAE’s food and beverage business sector, and specific areas within the market that offer the most investment and trade potential.

The analysis, based on recent data from Euromonitor International, projected fresh food sales in the UAE to record a compound annual growth rate (CAGR) of 8.3% over the 2018-2021 period.

Pineapples strawberries, bananas and tomatoes were identified as high-potential categories with these products expected to see CAGRs of 10.6%, 9.4%, 8.3% and 7.1%, respectively.

Tea products were forecast to see a CAGR of 9.3% between 2018 and 2021, while a CAGR of 2.6% was predicted for coffee products over the same period.

Last week, Dubai Chamber hosted meeting with a visiting Canadian delegation that was joined by food and beverage companies attending Gulfood 2019. During the meeting, visiting delegates learned about rules, regulations and requirements for food and beverage products that are imported to the UAE. More than 130 bilateral meetings between Canadian and UAE businessmen were held on the sidelines of the meeting.

SOURCE

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.