Dubai Chamber Spotlights Growth in F&B Sector at Gulfood

Dubai Chamber Spotlights Growth in F&B Sector at Gulfood 

Dubai International Chamber, one of the three chambers under Dubai Chambers, recently hosted a business event alongside Gulfood, the world’s largest F&B conference. The five-day event at Dubai World Trade Centre aimed to enlighten participants about the latest F&B trends in Dubai. Attended by 400 delegates from local and international businesses, the session showcased Dubai's potential for F&B companies, backed by advanced logistics and a favourable business environment.

According to Euromonitor, the UAE's F&B sector generated US$ 16.4 billion in retail sales in 2023, including both fresh and packaged food. E-commerce food spending reached US$ 1.1 billion and is projected to grow at a CAGR of 9.5% from 2023 to 2027. FDI Intelligence data shows Dubai's F&B sector attracted US$ 577 million in new foreign direct investment from 2019 to 2023, with 48 companies from 23 countries investing.

His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, emphasized Dubai's rising stature as a global F&B hub, offering growth opportunities amidst a focus on sustainability and food security. Organizing Gulfood in Dubai provides a platform for global stakeholders to forge partnerships. Dubai International Chamber is committed to facilitating the expansion of local F&B companies into global markets and attracting foreign investors.

The UAE led venture capital investments in the Middle East’s restaurant tech sector, exceeding US$ 1 billion from 2018 to 2023. It ranked second in agritech investments, attracting US$ 335.4 million. Euromonitor predicts retail sales of fresh food in the UAE to reach US$ 12.4 billion by 2028, with meat and vegetables leading in sales. Packaged food sales are expected to rise to US$ 8.3 billion by 2028, driven by staples like corn, rice, and wheat, and dairy products.

Beverage retail sales in the UAE are forecasted to reach US$ 2 billion by 2028, with bottled water dominating the market followed by soft drinks. Ready-to-drink coffee and tea are also expected to see significant growth. Dubai's population growth and tourism influx contribute to increasing demand for high-quality F&B products and services. The emirate aims to solidify its position as a major F&B hub regionally and globally.

The presentation featured a panel discussion with Saleh Lootah, Chairman of the UAE Food and Beverage Manufacturer's Business Group, highlighting the group's role in enhancing sector competitiveness.

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