Saudi Arabia’s food retail market to touch $70bn in three years

RetailME Bureau

Food sales in Saudi Arabia, which account for around half of the domestic retail market, are expected to be worth $70 billion by 2016. Owing to a rising population and strong consumer spending, the Kingdom’s agriculture and food sectors are expected to sustain a combined annual growth of 18.5%.

Such growth prospects have propelled industry players to emphasise on the need for platforms to discuss key issues, discover new business and investment opportunities and interact with major stakeholders. Addressing these needs, the upcoming Saudi Agriculture 2013, the 32nd international agriculture, water and agro-industry show and Saudi Agro-Food 2013 – the 20th international trade show for food products, processing and packaging technologies – will unveil the latest products, practices and techniques to meet the Kingdom’s surging food demands.These exhibitions will run from September 15-18, 2013 at the Riyadh International Convention & Exhibition Centre.Another related platform, Saudi Food-Pack 2013, the second international exhibition for food processing and packaging, will run alongside the two shows as well.

“These are crucial times as far as Saudi Arabia’s agriculture and food sectors are concerned. The Kingdom’s food requirements are rising to an all-time high, the government is intensifying efforts to come up with sound food security measures, and consumers with increasing spending power are demanding more diversity and quality. Saudi Agriculture 2013 and its associated events offer a timely, strategic meeting place to discuss and address vital issues, find out the latest and best trade solutions and direct sustained and efficient industry growth,” observes Zeyad Al Rukban, assistant general manager, Riyadh Exhibitions Company.