Saudi Food Industry set for $113 Billion Boom by 2016
With the consumers reaping the benefits of Saudi Arabia’s ongoing economic growth, the outlook for the consumer sector remains bright.
Recent industry reports have highlighted the tremendous success of the Saudi economy, driven by high oil prices, heavy government spending, and buoyant consumer confidence.
In line with economic and population growth along with continued investment in the food processing sector in the Kingdom, food consumption is predicted to grow by an enviable 53 percent to reach $113 billion by 2016.
Per capita food consumption is also expected to grow by an impressive 40 percent over the same period to reach $2,104. Showcasing this growth are several industry events to be held in the coming months.
Saudi Agro-Food 2014, the 21st international trade show for food products, ingredients and technologies, will feature state-of-the-art products, technologies and services, including frozen and chilled foods, confectionery and chocolates, healthy and natural foods, and presentation, processing and packaging equipments.
The event will be held from September 7 to 10, 2014 at the Riyadh International Convention and Exhibition Center to offer international, regional and local companies a platform to discuss key issues, discover new investment opportunities, facilitate business deals with major stakeholders, and network with the leading industry professionals.
Held concurrently with Saudi Agro-Food 2014 are Saudi Agriculture 2014 – the 33rd international agriculture, water and agro-trade industry show, and Saudi Food-Pack 2014 – the fourth international trade exhibition for food processing and packaging technologies.
Saudi Agriculture 2014 will showcase a variety of leading industry solutions and products in sectors such as agriculture building construction, animal health and production, finance and banking, machinery and equipments, chemicals and fertilizers, fisheries and fish farming, irrigation and landscaping equipments, and organic farming.
Likewise, Saudi Food-Pack 2014 will exhibit an array of equipments and solutions from manufacturers and distributors of tools, machinery and services that are essential for food production and packing, as well as their display in stores and outlets.
Saudi Agro-Food 2014 is approved by UFI, the Global Association of the Exhibition Industry. The last year’s edition recorded a footfall of over 8,000 professional visitors and 173 exhibitors from 24 countries across 5,000 square meters of exhibition space.