Middle East Food Sector Worth USD 31 Billon ff

From Emirates Business

The Middle East food service market is estimated to be worth more than USD 31 billion (Dh113.7bn) annually, according to recent studies.

The sector is boosted by the growing population, relatively high purchasing power and a rise in the number of tourists considered as the primary factors sustaining the market’s multi-billion dollar operations.

Reports have also revealed that the region is the largest consumer of canned tuna from Thailand in terms of export volume, due to the growing demand for such products within the regional food service industry.

In line with this, the second edition of “Sea Food Expo 2008”, the region’s only dedicated seafood event, is being eyed as a platform for leading Thailand-based seafood manufacturers to leverage the booming Arab food service industry.

Canned and frozen seafood products are highly utilized by leading fast food chains across the Middle East region, with most of the products being imported from the renowned seafood-exporting countries such as the United States, Thailand and Malaysia.

Canned tuna products have proven to be a top-grosser in the seafood category, with the region ranking second only to the United States in terms of volume consumption of tuna exports, and purchase of nearly 5,000 full container loads annually. The regional canned seafood market is thus seen by many as an important segment, which can be further explored through participation at “Sea Food Expo”, which will run from October 27 to 29 at the Madinat Arena Conference Hall in Madinat Jumeriah Hotel.

“The Middle East’s food service industry has benefitted from the region’s expanding population and high volume of tourist inflow among other factors. These have led to elevated demand for the various product categories,” said Raees Ahmed, Director, Orange Fairs & Events.

“The seafood market has been thriving in the UAE and other GCC economies. The canned seafood segment is thus expected to enjoy brisk business. The expo will see a gathering of the world’s leading seafood exporters and customers to explore the Middle East’s promising seafood market.”