The report “Food Market” evaluates the GCC market by type, form, country, distribution channel, as well as geography. The report includes trend analysis and historical market data. This report highlights the market share, production, competitive landscape, and development plans of the target companies that were evaluated in the GCC Food Market Study. It also provides information about the competition.
Market Overview & Dynamics: The advent of the working and young population to drive market growth
In the 2022-2028 forecast period, the GCC food market will grow at a 2.3% CAGR. International cuisines have seen a significant increase in demand due to the emergence of working-class young professionals. The growing demand for organic and healthy food products such as dairy products, fruits, and vegetables, is a result of the rising number of young people. Online and e-commerce platforms will see an increase in sales, with food delivery expected to grow over the next few years.
The tourism industry will also support growth in food consumption in GCC nations. International events can be a way to increase foot traffic in restaurants and food outlets. The GCC countries are opening their borders to fully-vaccinated tourists from abroad as the world economy recovers after the pandemic. This will lead to a boom in tourist numbers over the next few years. This will continue to fuel the growth in the GCC’s food market. Market growth will be boosted by the various steps taken in the GCC to increase food security and supply.
Cereals will dominate the market in 2021 based on their type. This segment will continue to grow as cereals are a staple food item within the GCC countries.
Online & ecommerce platforms will be the most lucrative distribution channel. This is due to the increasing adoption of smartphones, easy payment methods and home delivery.
Organic food products will experience the fastest growth rate based on the nature of organic foods. This is due to the growing health consciousness among both consumers and manufacturers. This will likely drive demand for organic fruits and dairy products.
Saudi Arabia, based on its region, is expected to dominate GCC’s food market. This is due to its growing young population and preference for eating organic and healthy food.RationalStat has segmented the GCC Food market on the basis of type, form, nature, distribution channel, nature, and country.
Fruits and Vegetables
Others (Bakery & Confectionary etc.)
By Distribution Channel
About RationalStat LLC
RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support globally and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, procurement intelligence, data analytics, and analytical dashboards.
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