32 C
Saturday, April 13, 2024

Dubai Chamber launches 6 new food business groups


Operating under the umbrella of the Dubai Chamber of Commerce, the Dubai Chamber has launched six business groups in the restaurant industry for the Horeca traders, meat and poultry, bakery, organic, grocery and hypermarket and supermarket sectors.

“We are on track to achieve our goal of establishing 100 business groups by March 2023. These six new business groups will help boost the vibrancy of Dubai’s F&B industry, with sales from consumer F&B outlets in the UAE expected to reach 86.4 billion dirhams,” said Mohammad Ali Rashed Lootah, president and chief executive officer of the Dubai Chamber of Commerce.

“Business groups are imperative in ensuring the representation of all business and economic sectors in Dubai. They help facilitate mutual dialogue between stakeholders and government entities and are key to addressing policy issues and enhancing the competitiveness of their respective sectors, ’ he added.

Consumer foodservice sales in the UAE will reach AED58.4 billion (US$15.8 billion) in 2022, according to Euromonitor. This figure was driven by the rapid response and recovery from the pandemic and strong economic growth.

Fresh food sales are expected to grow at a CAGR of 4.9% from 2022 to 2027, while packaged food is projected to grow at approximately 3.9% over the same period. Food manufacturer profits in the Middle East are expected to grow at a CAGR of 3.6% through 2026.

positive outlook
According to Euromonitor International, during the forecast period (2021-2026), retail sales of traditional groceries will grow at a CAGR of 3% in present value to reach AED 11.4 billion. During the forecast period (2021-2026), retail sales in supermarkets in the UAE will grow at a present value CAGR of 4%, reaching AED 19.7 billion. Foodservice value sales in the UAE’s full-service restaurants will increase by 24% in current terms to reach AED 32.5 billion by 2022. In 2021, retail sales of organic packaged food will increase by 6% to reach AED 120 million.

During the period 2015-2021, Dubai’s trade in meat and edible meat offal totaled AED 32.4 billion, while Dubai’s trade in bread, pastries, cakes and biscuits reached AED 11.3 billion in the same period.

The food industry in Dubai and the wider UAE has a bright future ahead. As an integral part of the industry, the business group will be committed to promoting the development of food businesses and raising the profile of Dubai’s catering industry in the international business community.

By providing a forum to facilitate dialogue between industry stakeholders and government entities, the business community will address industry-level challenges and address policy issues relevant to the industry, among other things. – trade arab news agency


Source link

Related Articles

Touchstone Infotech: Pioneering Innovation in Digital Solutions for Small Businesses

Introduction:In the bustling landscape of startups and small businesses, Touchstone Infotech shines as a beacon of innovation and transformative digital solutions. Founded by Prashant...

Emirates’ Eco-Warrior Endeavor: Global Recognition for Dubai-Based Airline’s Plastic Reduction Initiative

Emirates' Eco-Champion: Global Acclaim for Dubai Airline's Plastic Reduction Initiative Emirates airline's commitment to reducing plastic waste through closed-loop recycling has garnered global recognition, positioning...

UAE Gold Prices Reach New All-Time High, Surging by Dh4.50 per Gram

UAE are advised to stay informed and exercise caution when navigating the gold market, keeping in mind the potential risks and rewards associated with...

Emirates Publishers Association Sheds Light on Emirati Children Book Publishing at 2024 Bologna Children’s Book Fair

Emirates Publishers Association (EPA) played a significant role in highlighting Emirati children's book publishing at the 2024 Bologna Children's Book Fair. Sharjah, 9 April 2024:...

UAE President and Abu Dhabi Crown Prince Greenlight Dh2.18 Billion Housing Benefits.

UAE President and Abu Dhabi Crown Prince Greenlight Dh2.18 Billion Housing Benefits Abu Dhabi made a significant announcement on Monday, unveiling housing benefits worth Dh2.18...

Latest Articles