Food - GCC

Revenue in the Food market amounts to US$124.80bn in 2024. The market is expected to grow annually by 4.59% (CAGR 2024-2029).
The market's largest segment is the segment Confectionery & Snacks with a market volume of US$20.13bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$2,108.00 are generated in 2024.
In the Food market, 2.6% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 36.23bn kg by 2029. The Food market is expected to show a volume growth of 2.7% in 2025.
The average volume per person in the Food market is expected to amount to 544.70kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Food market in GCC is experiencing minimal growth, influenced by factors such as fluctuating consumer demand, increasing competition, and changing dietary preferences. The introduction of new products in sub-markets such as dairy, meat, and convenience food has also impacted the overall market. Additionally, rising health awareness and demand for organic and locally sourced food are driving the growth of sub-markets like fruits and vegetables. However, the market is facing challenges such as regulatory barriers and supply chain disruptions, which are hindering its growth rate.

Customer preferences: In the GCC food market, there has been a noticeable increase in demand for healthier, organic, and locally sourced food products. This trend is largely influenced by a growing awareness of the benefits of sustainable and ethically sourced food options. Moreover, as more consumers prioritize wellness and environmental sustainability, there is a noticeable shift towards plant-based diets and a preference for natural and unprocessed ingredients in food products. This has also led to an increase in demand for alternative protein sources, such as plant-based meat substitutes, as consumers become more conscious about the impact of their food choices on their health and the environment.

Trends in the market: In the GCC food market, there is a growing demand for healthier, more sustainable options, driven by consumer awareness and government initiatives. This has led to a rise in plant-based and organic products, as well as a focus on reducing food waste through innovative solutions. Additionally, there is a trend towards online grocery shopping and food delivery services, as consumers seek convenience and safety amid the COVID-19 pandemic. These trends have significant implications for industry stakeholders, as they must adapt to changing consumer preferences and invest in technology to meet the demand for online services. Failure to do so could result in lost market share and decreased competitiveness.

Local special circumstances: In GCC, The Food market is heavily influenced by the region's unique cultural and regulatory factors. The region's high disposable income and growing health consciousness have fueled the demand for organic and healthy food options. Additionally, the government's initiatives to promote local food production and reduce dependency on imports have led to the growth of domestic food markets. Furthermore, the region's diverse demographics and strong preference for traditional cuisines have created a niche market for specialty food products, such as halal and kosher certified foods. These factors have contributed to the dynamic and thriving food market in GCC.

Underlying macroeconomic factors: The GCC Food Market is affected by various macroeconomic factors such as economic growth, consumer spending, trade policies, and government regulations. With the growing population and increasing demand for food products, the GCC region has seen a rise in food imports and investments in the food sector. In addition, the region's economic stability, favorable trade agreements, and increasing disposable income have also contributed to the growth of The Food market. However, fluctuating oil prices, inflation, and political instability in certain countries can have a negative impact on the market. Moreover, the ongoing pandemic and its economic repercussions have also affected The Food market in the GCC region, leading to changes in consumer behavior and supply chain disruptions.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.