30 C
Monday, March 20, 2023

Dubai Chamber launches 6 new food business groups

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

Crown Electric acquires Kuwait zero-carbon ship deal

Crown Electric Ships and Boats Dubai, a pioneering electric boat manufacturer, has announced an agreement with Kuwait's Bader Sultan Group to develop and...

Sheraton Abu Dhabi Hotel Receives Intertek Safety Certification

Intertek Cristal, the market-leading global health, safety, quality and tourism-focused security risk management company, has awarded Sheraton Abu Dhabi Hotel & Resorts five...

MakeMyTrip Expands Partnership with Hotels in the Middle East

MakeMyTrip, South Asia's leading online travel company, has partnered with thousands of hotels in the Middle East, South Asia, Southeast Asia and Europe...

Businesses turn to automation to streamline HR processes

According to Connect Group, many businesses in the UAE are implementing HR software technology to improve efficiency and productivity. Connect's HR software...

Thuraya Launches New Tactical Satcom Solution

Thuraya Telecommunications Company in the UAE has launched a new satellite tactical radio extender solution (T-TAC) at Satellite 2023, designed for the government...

Latest Articles