Food sales in Saudi Arabia are expected to be worth almost $70 billion by 2016, with food consumption growing at a CAGR of 2.6 per cent from 2012 to 2017.

Saudi Arabia is the region’s biggest food consumer and, according to Alpen Capital, will account for 60 per cent of total consumption by 2017.


While Saudi Arabia is also the region’s largest food producer, representing 74.1 per cent of total production in the GCC, it imports more than $14.2 billion worth of food and beverage products each year to meet its consumption demands. According to BMI’s recent Q1 2013 report this will rise to $35.2 billion by 2020.

Saudi Arabia’s fast food market alone is expected to reach a value of $4.5 billion in the next three years driven by the strong demand from its young and wealthy population. Analysts also predict the country’s changing dietary pattern from carbohydrate-rich to protein-rich and high-value food products will create new opportunities for food companies in the Kingdom.


In order to address the growing food demands from consumers, the Saudi Arabian government plans to inject $22.1 billion into its food security initiative which aims to reduce the country’s dependence on food imports as well as provide employment for up to 46,000 people.

A young and growing population coupled by a thriving domestic economy is changing food consumption habits, creating significant opportunities for importers and exporters.

ifpinfo

13 September
 

UAE HÍREK

$494 billion worth projects planned in the UAE

The UAE is planning to carry out projects in construction and other sectors worth around $494 billion, accounting for nearly a third of the total projects planned in the region, according to a Gulf business chief.

Doha Metro to have 48 stations

The 131-km Doha Metro Railway will have at least 48 stations and half of the entire facility would be built underground at depths up to 50 meters. In a presentation, Qatar Rail commercial manager Stephen Lines disclosed that the elevated portion of the Metro railway is 48km long. Construction has started this year and it is expected to be completed in 2019.

 

Qatar's food industry to grow fastest in GCC

Qatar's food production industry accounts for only about 7% of the country's domestic consumption, a new report said yesterday highlighting its dependence on food imports for local needs.

 

In 2010, Qatar produced 0.1mn tons of foods across categories, the GCC food industry report said yesterday.

"Qatar is an important business hub in the GCC. Qatar is more affluent compared to other member countries in GCC with the highest per capita income. With an enviable economic outlook and growing private consumption, food consumption in Qatar is forecast to grow at a compound annual growth rate (CAGR) of 5% up to 2017," the report said.

Food sales to exceed $70 billion in Saudi Arabia

Food sales in Saudi Arabia are expected to be worth almost $70 billion by 2016, with food consumption growing at a CAGR of 2.6 per cent from 2012 to 2017.

Saudi Arabia is the region’s biggest food consumer and, according to Alpen Capital, will account for 60 per cent of total consumption by 2017.


While Saudi Arabia is also the region’s largest food producer, representing 74.1 per cent of total production in the GCC, it imports more than $14.2 billion worth of food and beverage products each year to meet its consumption demands. According to BMI’s recent Q1 2013 report this will rise to $35.2 billion by 2020.

Construction in Qatar to grow by 19%

The Middle East's construction sector, including Qatar, has been forecast to grow by 19 percent in 2013, with the combined value of completed projects set to reach $81.6bn. And projects worth $64.5bn are set to be awarded before the end of the second half of the year, according to Aldes Middle East, a leading provider of firefighting and ventilation solutions. Given Qatar's immense growth potential of the construction and real estate sector, the company has stepped up its expansion initiative with the planned opening of a new office in Doha.

ifpinfo

5 September

PARTNEREK

 

 

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