UAE fresh food sales projected to reach 6.4 bln Euros
The food and beverage sector of the United Arab Emirates is expecting steady growth over the next four years, supporting the country's fast growing population and increasing consumer demand for halal, organic and specialty food products.
According to recent forecasts by Euromonitor International, fresh food sales in the UAE are projected to reach 28.9 billion Emirati Dirham (6.4 bln euros) this year, growing further to hit AED 34 billion (7.5 bln euros) by 2021. Within the fresh vegetables category, AED 6.2 billion (1.4 bln euros) worth of sales are expected in 2018, rising to AED 7.4 billion (1.6 bln euros) in 2021.
Among the top products -expected to see the highest sales growth- are bananas, which are forecast to record a Compound Annual Growth Rate of 8.8 percent between 2017 and 2021, followed by canned fruit and fruit-based products at 8.7% percent and cabbage at 8 percent.
According to menafn.com, the sale of vegetables in the UAE is expected to see a CAGR of 6.3 percent between 2017 and 2021, followed by nuts at 5.9 percent. A CAGR of 11 percent is forecast for fresh coffee sales in the country over the same period, while green tea, black tea, and instant coffee products are expected to record growth rates of 10.3 percent, 6.2 percent and 2.7 percent, respectively.
Publication date: 2/21/2018
© 2018 FreshPlaza. All rights reserved.