Gulfood 2018 Underlines Dubai’s Lead Role in Global Food Industry
Touted to be the largest Food & Beverage (F&B) event globally, the 23rd edition of Gulfood concluded on a positive note in Dubai (UAE). ‘Innovation’ was the official theme of the 23rd edition of Gulfood, where F&B professionals unveiled the latest trends and innovations in the ever-evolving F&B sector.
According to experts, Gulfood 2018 will contribute significantly to the growth of a regional and global food market, generating revenues of Dh 11 trillion by 2020. Gulfood 2018 not only provided a platform where the global F&B community discovered new products innovations but also facilitated new business opportunities, sourced the best products along with staying up to date with the latest trends and insights that are shaping the future of food and beverage consumption worldwide.
Gulfood 2018 Dubai – Key Highlights
- Over 97,000 visitors from about 185 countries
- Exhibitors from 120 country showcased food products and services
- More than 5,000 local, regional and international companies participated including first-time participants from Estonia, Serbia and Slovakia
- Products across eight of the biggest commodity trading sectors, which includes but not limited to Beverages, Dairy, Fats & Oils, Health, Wellness, Pulses, Grains, Cereals, Meat & Poultry were exhibited
- Dubai & UAE’s food consumption is expected to expand to 59 million tonnes by 2025
Gulfood Startup Competition
For the first time, Gulfood 2018 organized the Gulfood Start-up Competition, which was designed to drive further innovation in the food and beverage supply chain. Gulfood Start-up competition enabled food entrepreneurs from across the Middle East to connect with the region’s leading food technology buyers and investors.
Gulfood Significance to Dubai, UAE & Arab World
In recent years, due to a rising consumer base (UAE population – 9.6 million) and growth in income, Dubai & UAE’s food consumption is expected to expand to 59 million tonnes by 2025. This growth in demand is foreseen to provide global F&B players with excellent investment opportunities in the Dubai & UAE’s food sector.
The brightening outlook for the country’s F&B industry will certainly consolidate Dubai and UAE’s status as a regional hub for trade and commerce and a major manufacturing, processing and food re-exporting center in the Middle East & North Africa (MENA) region.
Latest F&B Trends in Dubai & UAE (2018)
One trend seen across the Dubai and UAE is growing interest in organic foods and products, as UAE residents are getting health conscious. The shift toward natural and organic products in Dubai and UAE has gained prominence in the past few years as consumers have become more keen towards adapting a healthier diet and lifestyle.
At the 2018 Gulfood event, many of the major F&B industry representatives echoed the health theme to meet the regional and local consumer demand for healthier and more authentic food products and ingredients. It should be noted that Dubai and UAE consumers are increasingly driven to try new cuisines and unique flavors.
Health and innovation credentials form the basis of new product development in Gulfood Innovation Awards 2018. From Vegan ice-cream made with olive oil to Lizi’s Organic Granola, this year’s winners came up with recipes that delivered nutrition and flavour.
UAE’s e-Commerce Industry – 2018
Convenience is also at the forefront of Gulfood 2018, with Dubai and UAE residents increasingly searching for e-Commerce websites/portals to deliver food packages to their homes/offices. This has encouraged many to invest in UAE’s e-Commerce industry setting up online portals to service consumers. According to experts, UAE’s e-Commerce industry is estimated to value at Dh 37 billion in 2018. In terms of packaging, a growing demand for smaller sizes was also observed.
Investment Opportunities – Dubai & UAE’s F&B Industry
The Middle East is one of the fastest growing F&B markets in the world. The UAE’s F&B market share alone is expected to reach Dh 48.5 billion by 2018, according to KPMG. Middle East is increasingly seen as a lucrative market by international F&B brands and manufacturers. In this context, Gulfood continues to attract exhibitors and visitors to Dubai, generating significant transactional volumes every year and setting global food prices. Gulfood 2018 was the biggest in record, which will consolidate Dubai’s lead role in setting the global food agenda.
Research Konnection – Market Research, Feasibility Study & Business Plan Services Dubai (UAE) Research Konnection is a market research company in Dubai that assists local and international companies to setup or expand businesses in Dubai and UAE smoothly. At Research Konnection, we specialize in Market Research, Feasibility Studies and Business Plan Developments. Feel free to reach out to us on email@example.com