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FINANCIAL NEWS
GCC food service to supply USD 24.5bn market by 2018
19 Dec 2015
(MENAFN) The GCC food service market valued USD 18.8bn last year and will increase at annual growth rate of 6.8 pct to reach USD 24.5bn in 2018.
Furthermore, Saudi Arabia led the region with whole food service sales of USD 8.9bn in 2014, followed by UAE with total of USD 5.3bn, producing a 28 percent share.
In addition, within the food services sector, the fast food segment was the hugest, accounting for 58.2 percent (USD 10.9bn) of the GCC food market last year.
The caf” and bakery segment registered a yearly billing of USD 1.9bn, exhibiting strong increase over 2012-2014, growing at a CAGR of 3.3 pct.
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