Gulfood 2013 Set To Attract Record Number Of Food Buyers From Saudi Arabia
With the Kingdom of Saudi Arabia importing approximately 60% of the Middle East’s total food and beverage imports, the country is a key target market for regional and international food manufacturers and suppliers.
Gulfood 2013, the world’s largest annual trade show for the food and hospitality industry which takes place at the Dubai World Trade Centre from 25 - 28 February 2013, is expected to welcome a record number of F&B buyers and trade professionals from the Kingdom this year.
Saudi Arabia’s rising population, together with dynamic growth in its travel, tourism and hospitality sectors are key drivers in the Kingdom’s burgeoning food and beverage industry. According to a report by Business Monitor International (BMI), tourist arrivals in KSA are forecast to increase by 7% to 17.3 million in 2013 and by an average of 8.5% each year until 2017.
The Saudi hospitality market is growing in tandem with tourist arrivals. Valued at $13bn in 2011 by Alpen Capital, KSA’s hospitality market is expected to reach $18.1bn by 2016. Currently the fastest-growing in the GCC, the Saudi hospitality market is seeing an upward trend in luxury hotels having attracted investments from global players such as Marriott and IHG.
While rising food imports are already indicating strong market potential for F&B, such robust growth in the tourism and hospitality sectors is expected to fuel the need for international food products, services and technology even further.
Analysts have observed a growing preference for foods from Europe, North America, Africa and the Middle East, with the organisers of Gulfood corroborating this trend.
Trade visitors from the Kingdom are increasingly sourcing European and American products and technology, and attend the show to access more than 4,000 international food producers from around the world.
Changing consumer trends and demographics also play a key role in expanding KSA’s appetite for international flavours - a large youth population, high disposable incomes and increasing popularity of ’eating out’ being some of the associated factors.
Trixee Loh, Senior Vice President of DWTC, organiser of Gulfood, said, "As one of the biggest food importers in the Middle East, Saudi Arabian representation at Gulfood is always strong. This year, more than ever, food buyers and key decision makers within the KSA food & beverage industry will be making the trip to Dubai to meet with the largest number of suppliers and producers that Gulfood has ever hosted. There is no doubt that the show is critical for meeting the growing demand in the Kingdom and throughout the region."
Major brands participating at this year’s Gulfood include Al Rabie, Al Watania, Cadbury, Colman, Del Monte, Green Giant, Hershey’s, Knorr, Lipton, Masafi, Red Bul and SunBulah, among others.
Gulfood is strictly a trade-only event and is open to business and trade visitors from within the industry only. Gulfood is open 11am-7pm from February 25-27 and 11am-5pm on February 28.
Emirate: Dubai
Date: Feb 11, 2013
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