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07-01-14

Food, beverage consumption to grow 5 percent in 2014

(MENAFN) Consumption of food and beverage is expected to boost by 5 percent this year in Saudi Arabia, reported Business Monitor International, according to Saudi Gazette. Retail sector is expected to remain high as citizens incomes are rising, in addition to the favorable demographics and increasing urbanization. Food consumption is forecasted to grow 8 percent in 2014 with a compound annual growth rate (CAGR) of 7.8 percent from 2013 to 2017.