GCC food consumption to hit 49m T by 2017
Abu Dhabi, October 21, 2013
The Gulf countries will consume about 49.1 million tonnes of food annually by the end of 2017 thus registering a compounded annual growth rate of 3.1 per cent, said a report ahead of SIAL ME, the fastest growing professional business platform for the food, drink and hospitality industries.
The event is being held in strategic partnership with Abu Dhabi Food Control Authority from November 24 to 26.
Of the six Gulf countries, the UAE will become the largest consumer in per capita terms, according to the investment bank Alpen Capital’s revised 2013 GCC Food Industry Report.
The UAE’s per capita food consumption currently stands at 1,486 kg per year – 27 per cent more than Oman, which consumes 1,095 kg of food per capita annually, the report stated.
Saudi Arabia currently consumes 872 kg of food per capita, Qatar 852 kg, Kuwait 634 kg, and Bahrain 453 kg per capita, while by 2017, per capita food consumption for the entire region is forecasted to reach 983 kg, said the report.
Owing to its considerably larger population, Saudi Arabia will continue to be the biggest food consumer by volume, accounting for 59 per cent of GCC food by 2017 (29 million tonnes), while Qatar’s appetite will outpace that of other Gulf countries, increasing by 5 per cent by 2017 to reach two million tonnes, it added.
Looking to satisfy the growing appetites of the region will be more than 1,000 food, beverage and equipment companies from 40 countries at SIAL Middle East, said the organisers.
Mohammed Jalal Al Rayssi, the director of Communication and Community Service at ADFCA and chairman of the SIAL Middle East organising committee, said: "Population growth, increasing income per capita, and a booming tourism industry are the main drivers of food consumption in the GCC region, while food is currently the largest segment of consumer expenditure in the entire region."
"All reports indicate a fast growing market, with consumer spending on food in the GCC expected to reach $106 billion in the next five years. This clearly underlines huge opportunities for private sectors players to expand within the region, and SIAL Middle East provides the all important stage to capitalise on the opportunities that lay ahead," he stated.
More than 15,000 trade visitors are expected to attend SIAL Middle East 2013, which is co-located with ITCA (International Travel Catering Association) Abu Dhabi, and the Emirates International Date Palm Festival.
“Almost 65 per cent of the exhibitors at SIAL Middle East 2013 are new to the region to access this important market,” remarked Joanne Cook, SIAL Middle East director. "The SIAL Group focuses on innovation and having such a high percentage of new comers to the Middle East reinforces our mission to encourage food evolution," stated Cook.
“Our partnership with ADFCA, who encourage and assist as well as regulate the industry, has created an unrivalled business platform where there is time and space for visitors and exhibitors to conduct serious trade talks and close deals,” said the official.
SIAL Middle East 2013 returns with a three-day conference, a hosted buyer program, La Cuisine by SIAL international chef competition, and the prestigious SIAL Innovation Observatory, showcasing the world’s most innovative food and beverage products, including winners from the global competitions from events in China, Brazil, Canada and Paris.
It is part of SIAL Group, the world’s largest network of professional B2B food exhibitions which include SIAL Paris, SIAL China, SIAL Canada, and SIAL Brazil.-TradeArabia News Service