The Size of the Food and Beverage Industry in the Gulf Is $ 94 Billion In 2023

  • Gulf Cooperation Council
  • 21 February 2024
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The food and beverage sector in the Gulf reached $94 billion in 2023. The sector is expected to grow by about 6 percent annually to exceed $128 billion by 2029.

The two markets are the largest in the Saudi region and the UAE, where food and beverage revenues in the UAE reached $ 38 billion in 2023, while the value of the food and beverage market in Saudi Arabia was estimated at $ 28 billion.

Technology and startups have supported the food sector and have seen a surge in investments in delivery platforms, restaurant management programs, and sustainable practices, which include economic diversification and the promotion of a healthier lifestyle, reinforcing this upward trajectory.

Source (Al-Arabiya.net Website, Edited)

 

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