Gulfood Global Industry Outlook Predicts Worldwide F&B Spending to Account for 8.9 Per Cent of GDP by 2023

Dubai, UAE – Sunday 17^th February, 2019: Worldwide consumption of food and beverages will account for 8.9 per cent of GDP by 2030 – up from today’s 8.5 per cent – according to the Gulfood Global Industry Outlook Report 2019 released today at the world’s largest annual food and beverage trade exhibition.

With the rising demand driven by growing and more urbanised regional populations, the strongest demand is due to emanate from Asia, the Middle East and Africa, which the report identifies as areas of “high potential”.

Compiled by Euromonitor International, the knowledge partner of Gulfood, which runs until Thursday 21 February at Dubai World Trade Centre (DWTC), the report also reveals the Middle East & North Africa (MENA) region will record the highest percentage growth of any global territory in packaged health & wellness food.

The report also includes a Confidence Index encompassing survey results culled from more than 1,500 C-level global industry executives, as well as specific forecasts for the seafood, confectionery, snacks, ready-to-eat and ingredients segments. The 150-page report also boasts a complete analysis on the future of retail and the private label market as DWTC readies to launch its Private Label & Licensing Middle East (PRIME) show in October.

“The report makes for essential reading for all involved in the F&B sector,” explained Mark Napier, Exhibition Director, Gulfood 2019. “Alongside regional trends, the report identifies key consumer indicators, such as more convenience-seeking, yet wellness-giving lifestyles emanating from an unprecedented population shift from rural to urban living which is impacting global consumption habits while painting an incisive portrait of tomorrow’s consumer.”

Gulfood 2019 is a trade event open strictly to business and trade visitors. The show is open 11am-7pm from February 17 – 20 and 11am-5pm on February 21. For more information, visit www.gulfood.com