UAE's food sector sales poised to reach $16.7b

Dubai - · 20% growth in exhibitors and floor space as sector-specific Gulfood spinoff links regional food manufacturing players· 1,600 exhibitors from 58 countries descend on 80,000 square metre food industry showcase· Debutants Russia, Indonesia, Ireland and South Africa among 29 national pavilions

UAE food sales are projected to grow by an annual average of 7.3 per cent between 2015 and 2020, according to a new BMI report commissioned by Dubai World Trade Centre (DWTC) and released in tandem with the opening of its annual trio of specialist foods shows, which run until Wednesday 9 November.
In addition to underlining the country's standing as the GCC's second largest food market, the findings add further impetus to the relevance of DWTC's trio of finished food events - The Speciality Food Festival, Yummex Middle East and SEAFEX - as strategic investment and sourcing platforms for the regional food retail and hospitality industries.
With more than 700 local, regional and international food suppliers from over 60 countries showcasing thousands of specialist food products in front of an anticipated audience of 15,000 international buyers at this week's specialist food events, the report cites growing domestic demand for speciality gourmet, seafood and confectionery foods as the primary drivers of sustained long-term growth.
The heightened domestic demand for niche food products is reflected in 10 per cent growth across the three shows, according to Trixie LohMirmand, Senior Vice President, Exhibitions & Events Management, DWTC.
"Our well-established finished food platforms have yielded double-digit year-on-year growth in terms of floor space and total exhibitor participation this year," said LohMirmand. "This growth highlights the strategic significance that global food suppliers place on the UAE as both a lucrative sales market and re-export hub to the wider region."
The Speciality Food Festival will feature 200-plus exhibitors from over 50 countries, including new country pavilions and a broad portfolio of international and local buyers, suppliers, producers, importers & exporters of gourmet, halal and organic products.
Seafex 2016 will feature more than 145 exhibitors from more than 25 countries. This year's show is spread across 4,500 square metres - up 12.5 per cent on last year - with new exhibitors from the UK, Norway, the USA, the UAE and Vietnam.
Yummex Middle East - Surging confectionery sales
The UAE's confectionary sector is also anticipated to grow with total chocolate and sweets sales growing by 6.2 per cent CAGR by 2020 and per capita sales rising by an annual average of 4.7 per cent over the same period. - business@khaleejtimes.com