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FINANCIAL NEWS
Food sector sales in UAE to grow at USD17bn
07 Nov 2016
(MENAFN) UAE food sales are predicted to increase by an annual average of 7.3 percent between 2015 and 2020.
Furthermore, the UAE’s seafood demand is also ready for rapid increase in the coming 4 years, with 8 percent compound annual growth rate (CAGR) in fish product sales.
Accordingly, growth amid three sub-sectors of consumable seafood: fish, shellfish and preserved fish will grow at an annual rate of 8.2pct, 7.9pct and 6.3pct, respectively.
Meanwhile, almost 26pct of UAE household predicted to earn more than USD75.000 in 2017 and the average household earning will grow by 27.8pct in 2020.
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