GCC food sector poised for steady growth amid evolving preferences

Alpen Capital's latest report forecasts the GCC's food consumption to grow by 4.6 million MT to reach 55.5 million MT by 2029.

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While overall food consumption is expected to increase in line with population growth, changing consumer preferences, rising nutritional awareness and healthier eating habits are expected to influence the mix of food categories that are consumed in the coming years. This evolving landscape is likely to compel operators to adapt as well as create opportunities to strengthen their market presence.

UAE-based investment banking advisory firm, Alpen Capital, launched its latest GCC Food Industry report which features forecasts on the sector along with recent analysis on trends, growth drivers and challenges facing the segment. It also profiles some of the key food companies in the region.

The report was launched over a webinar followed by a panel discussion featuring Kenneth D'Costa, Managing Director, Barakat Group; Garry Walsh, CEO, Investor and Strategic Advisor; Somit Banerjee, Head of Trading, Al Khaleej Sugar Co. and Rajan Gupta, Managing Director, Alpen Capital. Sameena Ahmad, Managing Director, Alpen Capital moderated the discussion.