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GCC food market by consumption forecast to reach 53.14 million MT in 2026

Source:ResearchAndMarkets     Date:2022-11-09
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The GCC food market by consumption is forecast to reach 53.14 million MT in 2026, experiencing growth at a CAGR of 3.15% for the period spanning 2022-2026.

Growth is due to rising population, increasing awareness of healthy eating habits and increasing food consumption. However, market growth would be challenged by increasing food prices, unfavourable climatic conditions and increase dependence on food imports.

Growth in production is due to the various initiatives taken by regional governments to boost production through implementing organic farming, and artificial and technology-enabled processes across the food value chain.

The market is anticipated to experience certain trends like upsurging demand for organic food, technological advancements aiding food production, increase in demand for packaged and convenience foods, key developments to improve food supply and, major merger & acquisition deals in the GCC food industry.

Access the report: The "GCC Food Market (Saudi Arabia, UAE, Oman, Kuwait, Qatar & Bahrain): Insights & Forecast with Potential Impact of COVID-19 (2022-2026)"

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