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The Gulf Cooperation Council’s (GCC) food consumption is forecast to grow by 4.6 million metric tonnes (MT) to 55.5 million MT by 2029, according to Alpen Capital’s latest GCC food industry report.
The UAE-based investment banking advisory firm said growth will be driven by demographic expansion, higher spending power, and rising tourism activity, but noted that changing consumer preferences, greater nutritional awareness and healthier eating habits will alter the mix of categories consumed.
“Food consumption in the GCC is projected to grow on the back of demographic expansion, rising spending power and burgeoning tourism activity,” said Sameena Ahmad, MD, Alpen Capital. “While food security remains a priority, governments are seeking to reduce reliance on imports by investing in technologies such as vertical farming, hydroponics, and smart agriculture to build a more resilient food ecosystem.”
Key GCC food trends showcased
The report highlighted growing demand for convenience and tech-enabled services such as online food delivery, health apps, and cloud kitchens.
“Demand for healthier, fresh, and nutrient-rich foods, including organic and clean-label options is driving investment and innovation across the GCC’s food sector,” said Sharmin Karanjia, ED, Alpen Capital. “As margin pressures mount and technology reshapes consumer engagement, we expect further consolidation in high-growth areas such as agritech, digital F&B, and smart supply.”
The report, launched over a webinar, also featured a panel discussion with industry leaders including Kenneth D’Costa, MD of Barakat Group, Garry Walsh, CEO and strategic advisor, Somit Banerjee, head of Trading at Al Khaleej Sugar Co and Rajan Gupta, MD at Alpen Capital.
