Global Food Week Concludes in Abu Dhabi with AED 6.2 billion worth of deals signed

Image Source – WAM

After the successful conclusion of Gulfood Manufacturing 2024, the Global Food Week event ended with a record number of deals signed amounting to Dh 6.2 billion which is a 59% growth compared to the previous edition. The Global Food Week event which was organized by ADNEC Group and the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) witnessed over 1,600 meetings between exhibitors and buyers from across the globe. Likewise, 34,437 visitors attended the event which was a significant growth from the previous edition which attracted 16,899 visitors. In terms of exhibitors, the event featured 1,900 companies with 600 new exhibitors from 67 countries demonstrating advancements in food technology and sustainable food industries.

Key Themes – Agricultural Technology and Food Security

The Global Food Week event played a crucial role in promoting international collaborations and advancing the growth of the regional and global food and beverage (F&B) industry. With the event, Abu Dhabi aims to cement its position as a hub for agricultural innovation as well as support global initiatives in finding sustainable solutions and ensuring food security for future generations. 

The event also included the Global Food Security Summit to address key topics including climate-smart agriculture, agricultural technology, and supply chain resilience. Furthermore, the Abu Dhabi International Food Exhibition, Abu Dhabi Date Palm Exhibition, and Abu Dhabi Coffee Festival highlighted the initiatives taken at the national level to ensure food availability through an integrated food security framework.

The Abu Dhabi International Food Exhibition connected participants with a wide network of investors and gave access to one of the world’s fastest-growing F&B markets. Additionally, the event provided a dynamic platform to present cutting-edge innovations and products to both regional and international stakeholders.

Abu Dhabi has shown its commitment to the advancement of the food industry by taking multiple initiatives. This includes extending an invitation to Polaris Technology and through the Emirates Entrepreneurship Association to present AI-powered solutions for resource planning in the F&B sector. Earlier this year, Microsoft also announced a Dh 5.5 billion investment in UAE’s G42 to accelerate AI adoption in the country while Dubai launched Global Blueprint to harness technology for quality-of-life-focused outcomes to contribute Dh 100 billion to the economy.

The UAE Food and Beverage Sector Outlook 2024-25

The UAE F&B market is projected to grow at a CAGR of 17.09% with market value growing from Dh 73.36 billion in 2023 to Dh 161.37 billion by 2029. The strong economy, and a growing multi-cultural consumer base combined with a dynamic demographic of Abu Dhabi and Dubai, have led to the sector’s increased performance in the UAE. In 2023, the F&B sector contributed 3% towards GDP growth and it is projected to contribute 4% and 5% in 2024 and 2025 respectively. Events like Global Food Week and Gulfood Manufacturing are likely to positively impact the UAE F&B sector in the future.

Research Konnection is a top market research company in UAE specializing in F&B sector research. Contact us at hello@researchkonnection.com for F&B business setups in Dubai and Abu Dhabi.