Alpen Capital´s latest report on the GCC Food Industry estimates that the per capita food consumption in the region will expand at a CAGR of 2.1% over 2011-15 (as against an estimated CAGR of 0.9% over 2007-10), mainly due to rising incomes in the region. Overall food consumption too will grow at a faster pace than it did over the last three years, owing to the rising incomes as well as fast growing population in the region. It is expected to expand at a CAGR of 4.6% over 2011–15 to 51.5 million metric tonnes in 2015 (as against an estimated CAGR of 4.1% over 2007-10).
The report also expects the consumption of high-value and protein-rich products (meat), fruits, vegetables and other food products (sugar, oil, fish/eggs) to grow at a higher rate compared to that of staples such as cereals. This development is in line with global trends. While per capita cereal consumption is expected to decrease progressively across all countries; cereals will remain the leading segment, by volume. The consumption of milk is also likely to increase considering that the per capita consumption is low in the region compared to that in developed countries.
For more details please click here to access the complete version of the GCC Food Industry Report June 2011.