Global F&B spending to account for 8.9% of GDP by 2023

February 18, 2019 | By RetailME Bureau

Worldwide consumption of food and beverages (F&B) will account for 8.9% of GDP by 2030, up from today’s 8.5%, indicates the recently launched Gulfood Global Industry Outlook Report 2019. The report was released at the on-going Gulfood running from February 17-21 at the Dubai World Trade Centre (DWTC).

With the rising demand driven by growing and more urbanised regional populations, the strongest demand is due to emanate from Asia, the Middle East and Africa, which the report identifies as areas of “high potential.”

Compiled by research firm Euromonitor International, the report also reveals the Middle East & North Africa (MENA) region will record the highest percentage growth of any global territory in packaged health & wellness food.

The report also includes a Confidence Index encompassing survey results culled from more than 1,500 C-level global industry executives, as well as specific forecasts for the seafood, confectionery, snacks, ready-to-eat and ingredients segments. The report also boasts a complete analysis on the future of retail and the private label market.

“The report makes for essential reading for all involved in the F&B sector,” says Mark Napier, exhibition director, Gulfood 2019. “Alongside regional trends, the report identifies key consumer indicators, such as more convenience-seeking, yet wellness-giving lifestyles emanating from an unprecedented population shift from rural to urban living which is impacting global consumption habits while painting an incisive portrait of tomorrow’s consumer.”



Previous Article Next Article


Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau

UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau

The Organic Farmers’ Market is back in Bay Avenue for its 12th 

Continue Reading

February 17, 2021 | By RetailME Bureau

UAE-based  Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah, 

Continue Reading

February 15, 2021 | By RetailME Bureau
Jones the grocer

Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones 

Continue Reading

February 1, 2021 | By RetailME Bureau

UAE-based Al Maya Supermarkets is hosting a two-week food festival at select 

Continue Reading

January 17, 2021 | By Lawrence Pinto

Download Images RetailME Magazine