UAE Press: Gulfood Offers A Taste Of UAE Success Story
Umer Jamshaid 3 years ago Wed 20th February 2019 | 10:30 AM
A UAE newspaper has said that Dubai has always remained a centre of attraction for the world. The ongoing 24th edition of Gulfood, the world’s largest annual food and beverages (F&B) trade show, has attracted over 5,000 local and international exhibitors and drawn high-calibre interest including ministers, top trade envoys and organisations, indicating its growing popularity
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 20th Feb, 2019) A UAE newspaper has said that Dubai has always remained a centre of attraction for the world. The ongoing 24th edition of Gulfood, the world’s largest annual food and beverages (F&B) trade show, has attracted over 5,000 local and international exhibitors and drawn high-calibre interest including ministers, top trade envoys and organisations, indicating its growing popularity.
The Gulfood Global Industry Outlook Report 2019, compiled by Euromonitor International, has forecast F&B sales in the middle East and North Africa region to rise from $145.4 billion in 2018 to $171.2 billion by 2023 at a Compound Annual Growth Rate, CAGR, of 3.33 percent.
"The exhibition has been witnessing new-to-market products and leading innovation breakthroughs designed to meet such soaring demand. Since its launch in 1987, it has grown to promote F&B trade between more than 180 countries annually," said The Gulf Today in an editorial on Wednesday.
One of the prime reasons for the show’s global attractiveness is that it offers a perfect platform for game-changing business deals, new market opportunities and emerging trends while setting the agenda for the future of food.
New features have added extra flavour. For example, at the ‘Tastes of the World’ event, Michelin-starred chefs and kitchen captains show off their skills in a range of masterclasses and live cook-offs, including the first-ever Gulfood International Culinary League, in which four teams prepare a three-course menu showcasing the distinctive dishes and techniques from their regions.
The size of the UAE’s food and beverage market is projected to hit AED131 billion for food and AED14 billion for beverages in 2021, according to the 2018 Dubai Exports Report. The UAE is a major food importer in the Middle East region, propelled by high gross domestic product, per capita, increasing consumption and spending, and expanding local and expatriate populations.
There is also rising demand for differentiated food offerings to meet the sophisticated taste preferences of modern consumers, with models such as online grocery services, food delivery mobile applications and food trucks gaining popularity.
"There’s no doubt that such high-profile events would contribute enormously in diversifying national economy and boost UAE’s position as global trade hub," concluded the Sharjah-based daily.