DUBAI, UAE — Demand within the UAE’s food and beverage 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 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.
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.
During the briefing, Mr. Hassan Al Hashemi, Vice President of International Relations, Dubai Chamber, noted that strong demand within the UAE’s food and beverage sector is reflected in the number of growing number of companies that exhibit at Gulfood every year.