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17-02-18
GCC to grow 7.1 percent per year in Food, beverage sector
(MENAFN) MENA Research Partners' latest data have revealed a forecast of food and beverage sector in the GCC to witness by 2021 an increase to 7.1 percent per year, recording USD196 billion.
Saudi Arabia was found in the statistics to amount for more than 50 percent of the market shares, with the UAE following it at 31 percent, and Kuwait at 9.6 annually.
The CEO for MENA Research Partners Anthony Hobeika explained "this surge is driven by the growth in disposable income, a shift from dining-in to dining-out and a trading up in the dining-out habits and preferences."
He added "also, catering concepts fueled by home and office delivery and online food ordering are gaining popularity."
MENAFN1702201800450000ID1096474827
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