According to Frost & Sullivan’s recent analysis, the outlook looks bright for the KSA and UAE food and beverage market as it continues to register steady growth and is on course to reach $80bn.
The overall expenditure on F&B in the UAE is estimated to increase by 6.9 per cent year-on-year, reaching $37bn in 2020 from $34.6bn in 2019; while the KSA is likely to witness 5.4 per cent year-on-year growth, which translates to $50.6bn over the same timeframe. It also discusses food consumption habits and preferences for all meals, highlighting the different patterns across weekdays and weekends.
“Rising health awareness, product differentiation, and convenience of online food platforms are key factors to drive the F&B market in the KSA and UAE,” said Prithvijit Roy, Food & Nutrition Consultant at Frost & Sullivan. “Additionally, served as a centre-of-plate item, cereals continue to be the most consumed food item in both nations, followed by value-added dairy products, fruits and vegetables, and meat-based products.”