The food and beverage sector in the Gulf Cooperation Council (GCC) countries is a rapidly growing and dynamic industry, with a range of trends and opportunities for businesses to capitalize on.
The GCC food and beverage market is expected to reach a market value of $94.4 billion in 2023, at a compound annual growth rate (CAGR) of 6.1%. Between 2024 to 2029, the GCC food and beverage market is expected to continue growing at a CAGR of 6.1%, and reach a market value of $128.2 billion by 2029.
One trend that is evident in the GCC food and beverage sector is a growing demand for healthier and organic options. Consumers in the region are becoming more health-conscious and are seeking out natural and organic products. This presents an opportunity for businesses to offer healthier options and capitalize on this trend.
Another trend in the GCC food and beverage sector is the increasing popularity of plant-based and vegetarian options. Consumers are becoming more aware of the environmental and health benefits of plant-based diets, and this is creating new opportunities for businesses offering these types of products.
Online food delivery platforms such as Uber Eats and Deliveroo have also had a significant impact on the food and beverage sector in the GCC. These platforms have made it easier for businesses to reach customers through online channels and have created new opportunities for restaurants and food businesses.
Food tourism is also a growing trend in the GCC, with an increasing number of tourists coming to the region to experience the local cuisine. Food festivals and events, street food, and culinary experiences are all popular attractions for tourists, and businesses in the food and beverage sector can capitalize on these trends by offering unique and immersive dining experiences.
Overall, the food and beverage sector in the GCC is a dynamic and evolving industry, and there are many opportunities for businesses to capitalize on the latest trends and meet the changing needs and preferences of consumers. With Gulfood, the world’s largest go-to event brand trusted by the global F&B industry taking place next month (20 – 24 February), never has there been a better time to reach out to us to know more and how we could support you gain access to this burgeoning market.