Global Market Trends: Spotlight on Middle East and North Africa Food & Beverage
October 2, 2019
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There is an expected growth for spending on food and beverage across the Middle East and North Africa through due to strengthening consumer spending power, affluent customer bases, tourism growth and further development of mass grocery retail formats.
- Gulf countries are looking to premiumization, health and convenience for food.
- North African countries are focused on food staples.
- Food sales are expected to grow by 9.8 percent in 2019 and are forecasted to grow annually between 8 and 9 percent to reach USD 403.8B by 2023.
- Meat and poultry make up the largest segment of food sales in this region followed by rice and cereals.
- Non-alcoholic drinks sales are expected to reach USD 28.9B by 2023, but alcoholic drink sales do not have a high expected growth due to the bans on alcoholic consumption. Alcoholic drink consumption is at 1,463M liters in 2019 and only expected to grow to 1,817M liters in 2023.
To learn more, attend Gulfood Manufacturing on Oct. 29-31, 2019!
