New Food market report from Business Monitor International: "United Arab Emirates Food & Drink Report Q2 2014"
Boston, MA -- (SBWIRE) -- 04/01/2014 -- We remain bullish on the UAE's consumer outlook, as a wealth of data point to continued growth. With consumer and business sentiment looking positive, the outlook for household consumption is particularly bright over the coming quarters. Following real GDP growth of 6.2% in 2012 and an expected 4.1% in 2013, we expect the economy to expand by a more moderate 3.4% in 2014. Our country risk team forecasts real private final consumption growth of 6.5% in 2014, but thereafter to rise, up to 8.8% in 2016 and 2017 and beyond.
Headline Industry Data
- 2014 food consumption growth (local currency terms): +5.5%; compound annual growth rate (CAGR) to 2018: +5.7%.
- 2014 per capita food consumption growth (local currency terms): +3.9%; CAGR to 2018: +4.4%.
- 2014 total soft drinks sales (local currency terms): +6.0%; compound annual growth rate (CAGR) to 2018: +6.3%.
- 2014 mass grocery retail sales (local currency terms): +8.4%; compound annual growth rate (CAGR) to 2018: +8.7%.
View Full Report Details and Table of Contents
Key Industry Trends And Developments
Amira's Basmati Rice Acquisition Deal Closes: UAE-based Amira Nature Foods completed the acquisition of Germany-based premium-branded rice distributor Basmati Rice for an undisclosed amount. Amira will be offering 10 varieties of rice under the ATRY, Scheherazade, Sultan, Sativa and Sadry brands.
The aim is to expand Amira's sales in international markets, including Germany, Europe and the US, according to the firm's CEO, Karan A Chanana. The company, which generated revenue of US$9mn in 2013, expects to boost current FY14 earnings through this acquisition. Amira Nature Foods reported a jump in full-year earnings, boosted by growing demand for basmati rice. For the year to March 31 2013, EBITDA rose 30.5% to US$52.2mn, while net profit rose 61.2% to US$19.2mn. Full-year sales were up 25.7% to US $413.7mn.
Denny's To Venture Into Middle East: US restaurant chain Denny's has signed a franchise agreement with UAE-based Advance Investment, an affiliate of Food Quest Restaurant Management, to open restaurant outlets across the Middle East. The restaurant chain plans to launch its 30 restaurants in the Middle East over the next 10 years, with its first opening of the restaurant in the UAE by 2015, increasing the chain's international ventures to 60 restaurants. The deal will allow Denny's to explore the US$30bn Middle East franchise market and will mark the company's footprints in the UAE market. Developed infrastructure and facilities such as malls and the purchasing power of residents and travellers are key factors that attract international investors, according to Franchise Middle East Consultancy's CEO, Mana Al-Suwaidi.
About Fast Market Research
Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Food research reports at Fast Market Research
You may also be interested in these related reports:
- United Arab Emirates Food & Drink Report Q1 2014
- The Future of the Savory and Deli Foods Market in the United Arab Emirates to 2017: Market Size, Distribution and Brand Share, Key Events and Competitive Landscape
- Cream Market in the UAE to 2017
- United Kingdom Food & Drink Report Q2 2014
- Puddings/Desserts Market in the UAE to 2017
- The Future of the Savory and Deli Foods Market in the United Arab Emirates to 2017
- Bahrain Food & Drink Report Q2 2014
- Cookies (Sweet Biscuits) Market in the United Arab Emirates: Market Profile to 2017
- Morning Goods Market in the United Arab Emirates: Market Profile to 2017
- Baking Ingredients Market in the United Arab Emirates: Market Profile to 2017