UAE Food And Beverage Sector Revenue Expected To Hit AED 141 Billion By 2024

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has reported a 19% rise in the UAE's food and beverage exports during the first half of 2024. This growth is expected to boost the sector’s revenue to US$38.3 billion (AED 141 billion). These figures were shared in a report released for Global Food Week 2024, which brings together experts and businesses in agriculture and food production.

Under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, the event is being held at the Abu Dhabi National Exhibition Centre (ADNEC) until Thursday, 28th November. The Chamber’s involvement highlights its dedication to achieving the UAE Food Security Strategy 2051 goals and supporting Abu Dhabi’s business-friendly environment. This initiative aims to position the emirate as a leading hub for talent, business, and investment.

The ADCCI report also predicts that online sales of food and beverages in Abu Dhabi will reach US$619 million (AED 2.3 billion) by 2025. This growth is attributed to increased e-commerce adoption and a burgeoning market. Additionally, consumer spending within this sector is expected to rise by 6.3% in 2024, reinforcing its long-term sustainability.

Reflecting the sector's strength, 2,540 new companies joined ADCCI between January and October 2023. These companies cover 178 activities within the food sector, making up about 8.2% of the Chamber’s total membership. This increase underscores the attractiveness of the industry for new businesses.

Shamis Ali Khalfan Al Dhaheri, Second Vice Chairman of ADCCI, stressed the strategic importance of their participation in Global Food Week. He stated, "Our participation in Global Food Week aims to strengthen Abu Dhabi’s position as a global investment hub in the food and beverage sector. It aligns with our efforts to support the prosperity of the local business ecosystem, providing both national and foreign businesses with opportunities to thrive and expand globally."

The event serves as a platform for businesses aiming for global expansion through integrated strategies focusing on sustainable development and high-growth sectors. The Chamber's efforts are directed towards enabling businesses to achieve international growth while fostering a supportive local ecosystem.

Support for Local Enterprises

During its participation in the Abu Dhabi International Food Exhibition 2024, ADCCI will host seven local small and medium-sized enterprises (SMEs) at its pavilion. This initiative allows these companies to showcase their latest innovations and products. It reflects ADCCI's commitment to supporting local businesses and helping them expand into regional and global markets.

The Chamber's initiatives highlight its role in promoting Abu Dhabi as a centre for business excellence while aligning with broader national goals for food security and economic diversification.

With inputs from WAM