The food consumption within the Gulf Cooperation Council (GCC) is expected to increase by 4.6 million metric tonnes, reaching a total of 55.5 million metric tonnes by the year 2029, as reported by Alpen Capital’s recent analysis of the GCC food sector.
Alpen Capital, an investment banking advisory firm based in the UAE, indicated that this growth is attributed to population growth, increased disposable income, and heightened tourism activities. However, they also pointed out that evolving consumer habits, enhanced nutritional awareness, and a shift towards healthier diets will influence the types of food that are consumed.
Sameena Ahmad, Managing Director at Alpen Capital, stated, “Food consumption in the GCC is set to grow primarily due to demographic growth, increasing purchasing power, and expanding tourism.” She further emphasized that while food security is a crucial concern, governments are working to decrease dependence on imports by investing in innovative practices such as vertical farming, hydroponics, and smart agricultural technologies to create a more robust food ecosystem.
Highlighted Food Trends in the GCC
The report showcased a rising interest in convenient and technology-driven services such as online food delivery, health applications, and cloud kitchens.
Sharmin Karanjia, Executive Director at Alpen Capital, noted, “The demand for healthier, fresh, and nutrient-dense products—including organic and clean-label options—is propelling investment and innovative efforts across the GCC food market.” She added, “As profit margins tighten and technology alters consumer interactions, we anticipate more consolidation in rapidly growing sectors such as agritech, digital food and beverage, and intelligent supply chains.”
This report, introduced during a webinar, also included a panel discussion featuring industry experts such as Kenneth D’Costa, Managing Director of Barakat Group, Garry Walsh, CEO and strategic advisor, Somit Banerjee, head of Trading at Al Khaleej Sugar Co., and Rajan Gupta, Managing Director at Alpen Capital.