UAE’s fast food sector revenue to exceed $ 4.5 billion in 2022
The fast food service industry in the United Arab Emirates is expected to grow 5.8 percent annually to $ 4.51 billion in 2022, from $ 3.66 billion in 2018, according to a report from Statista.com, a digital market information provider.
The news comes as experts join key industry players at the Middle East’s premier fast food and coffee convention taking place at the Conrad Dubai Hotel, where more than 250 delegates discuss the future of the industry and how to lead its growth in a changing global economy. environment.
Full-service restaurant revenue in the United Arab Emirates is expected to reach $ 2.34 billion in 2022, up from $ 1.94 billion in 2018, while coffee and tea revenue is expected to reach 705 billion. million next year, up from $ 584.5 million. The ice cream market is the smallest, with revenues expected to reach $ 42.2 million in 2022, up from $ 35.4 million in 2018, according to the report.
The total number of operational restaurants and cafes in the Emirate of Dubai reached 11,813 at the end of 2018, according to the Department of Economic Development (DED), making Dubai the gastronomic capital of the Middle East. In 2018, the number of fast food chains in the UAE reached 996, followed by coffees and teas in around 850 outlets.
“Regardless of how society develops in the future, consumers will continue to drink tea or coffee – or karak chai – depending on their lifestyle. Therefore, it is important to talk about this important sector that generates so much income and to talk about those whose livelihoods depend on this important industry – starting with the farmers who grow the ingredients, the workers in the processing factories of the world. tea and coffee, suppliers, restaurateurs. and the people who serve them to consumers ”, Mini Jacob, co-founder of Oddbox, organizer of the Fast-Food & Café convention.
“The outbreak of the Covid-19 pandemic created challenges as well as opportunities for the sector. It is important to find the best way forward for the industry, in accordance with sustainable agriculture, sourcing and a new way of serving consumers.
The one-day Fast Food & Café convention features key industry representatives including Ajay Jain, CEO of Rebel Foods; Tapan Vaidya, CEO of Papa Johns in the United Arab Emirates and Saudi Arabia; Damian Conway, Dubai Restaurant Group Advisory Board Member; George Kunnapally, Managing Director of Nando’s; Karim Hajjali, CEO of Foodquest; Ketaki Shah, Marketing Manager at Jollibee; Ravi Chandran, CEO of Liwa Minor; Savia Vaz, Marketing Manager at Citymax Hotels and Foodmark; Abdul Kader Saadi, founder of Eighty6; Mohammad Al Madani, Chairman and CEO of the Al Madani Group; Mohamed Al Fayed, CEO of Grubtech; Prashanth Menon, Director of Operations at Pizza Express, UAE; Naji Haddad, Managing Director ME at Deliverect; Nadine Benchaffal, founder of Abfab Foods and Stéphane Cherel, CEO of O’Tacos, among others, who will discuss the main issues facing the industry and the way forward.
The Fast Food & Café convention was launched in 2017 in India with an ambitious vision to create a platform for all stakeholders in Quick Service Restaurant (QSR), Cafe, Fast Food, Casual Dining, cloud cooking and food and drink. industry.
Following its success in India, Oddbox launched the Middle East version in Dubai, which will be co-located at the Middle East Retail Forum at the Conrad Dubai Hotel.
Innovation, food technology, cloud cooking, changing consumer behavior and changing customer touch points are some of the major industry trends that were reported at the event.
“As economies recover from the Covid-19 pandemic, the UAE is leading the recovery through its effective management of the pandemic. With the faster return to normal and the opening of the country’s borders to coincide with Expo 2020, this is a perfect case for the launch of the Middle East edition of the Fast Food & Café Convention in Dubai ”, Jacob said.
“At the Fast Food & Café convention, delegates will get a clear focus on where the industry is heading, including challenges and opportunities, so attendees can rethink their growth strategy.
The global restaurant and catering industry is worth approximately $ 34.25 billion and is expected to reach $ 56.3 billion by 2027. According to estimates for 2020, the global number of catering establishments was about 23.13 million. Only about 300,000 of them were based in the Middle East and Africa, according to Statista.
With the high purchasing power of UAE residents, the market is getting more and more robust with each passing day. Food stores in the United Arab Emirates are now synonymous with a place to celebrate occasions and enjoy with family members.
High disposable income, cosmopolitan environment, varied dining choices from Mexican to Korean, the United Arab Emirates is a diner’s paradise – from fast food to casual dining to fine dining – the country offers the very best in food choices. food and catering experience.
A report from Mordor Intelligence shows that nearly 32% of Emiratis are willing to spend 100-300 AED ($ 27.23- $ 81.68) by eating out. Those willing to spend 50-100 AED make up about 39%.
In 2018, in the catering sub-sector, fast food restaurants recorded the highest sales value in the UAE, with approximately $ 3.6 billion. Fast food restaurants are expected to reach a sales value of around $ 4.5 billion in 2022, followed by full-service restaurants with a sales value of around $ 1.9 billion in 2018.
The Fast Food & Café convention is supported by Ecolab, Grub Tech, Vio Life, Deliverect, among others. TradeArabia News Service