Recently published research from Business Monitor International, "Qatar Food & Drink Report Q4 2013", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 11/20/2013 -- We continue to maintain our very positive view on the Qatari consumer sector. Qatari household spending has been expanding at a steady clip over the last decade, and we expect this trend to continue over the medium term. In addition to projecting real GDP growth of 5.0% in 2013 and 4.8% in 2014, we see private consumption growing by 8.0% and 7.5% in 2013 and 2014 respectively. An array of structural factors continues to support consumption growth and the expansion of the retail sector, namely high per capita incomes (which we forecast to reach US$108,000 by end-2013), an influx of expatriates entering the country in preparation for the 2022 FIFA World Cup, and an official unemployment rate of 0.5%.
Headline Industry Data (local currency)
- 2013 food consumption growth = +4.5%; compound annual growth rate (CAGR) to 2017 = +5.4%.
- 2013 soft drinks sales = +6.4%; CAGR to 2017 = +7.2%
- 2013 mass grocery retail sales = +5.6%; CAGR to 2017 = +6.7%
- 2013 supermarket sales = +2.6%; CAGR to 2017 = +4.2%
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Key Industry Trends And Developments
MAF Partners With Gourmet Gulf: In summer 2013, UAE-based retail firm Majid Al Futtaim signed a joint venture agreement with UAE-based Gourmet Gulf Company, an affiliate of Daud Arabian, to expand its presence in the Middle East. Gourmet Gulf plans to open more than 10 restaurants from its existing franchise brands in the next six months and aims to have around 100 outlets in operation by 2020.
Waitrose Ups Exposure in Lucrative MGR Market: Upscale UK-based retailer Waitrose in summer 2013 increased its foothold in the lucrative UAE mass grocery retail market. Due to launch its sixth store in Abu Dhabi, the move highlights dynamic growth prospects for value-added, premium-positioned produce, spurred by both increasing Emirati and expatriate demand. The retailer looks well positioned to build on the success of existing Gulf operations, where growth shows little sign of stalling in the near-to-mid-term.
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