Boston, MA -- (SBWIRE) -- 11/25/2014 -- We maintain our bullish outlook on the UAE's economies as a wealth of data points to continued growth. Consumer and business sentiment remains positive, underlining our particularly bright outlook for household consumption and fixed investment over the coming quarters. Following estimated real GDP growth of 5.2% in 2013, we forecast the economy to expand by a more moderate 3.9% in 2014, before picking up to 4.0% in 2015. We also forecast real private final consumption growth to come in at 6.5%. While this would be a slowdown on last year, we believe growth will average 7.0% per year between 2015 and 2017.

Headline Industry Data

- 2014 food consumption growth (local currency terms): +5.5%; compound annual growth rate (CAGR) 2013 to 2018: +6.9%.
- 2014 per capita food consumption growth (local currency terms): +3.9%; CAGR 2013 to 2018: +5.2%.
- 2014 total soft drinks sales (local currency terms): +6.0%; compound annual growth rate (CAGR) 2013 to 2018: +7.6%.
- 2014 mass grocery retail sales (local currency terms): +8.4%; compound annual growth rate (CAGR) 2013 to 2018: +10.5%.

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Key Industry Trends And Developments

Halal Food & Beverage Market To Worth USD1.6trn By 2018, Says Research

The Dubai Chamber of Commerce and Industry's research has shown that the halal food and beverage market is expected to be worth USD1.6trn by 2018, growing at a compound annual growth rate (CAGR) of about 6.9%, owing to increased popularity worldwide. The research, which is based on a recent study by Thomson Reuters in collaboration with Dinar Standard, also showed that the industry grew into a USD1.1trn industry in 2013. The report indicates a long-term business opportunity in the UAE halal food market, also highlighting that 'the increasing demand is expected to take the packaged food market to about AED14.07bn (USD3.83bn) by 2018, with sales value growing at a CAGR of about 4.78% during this period' (FnBnews.com).

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