GCC food investments hit US$23,757 million in 2014

Source：Ringier Food Release Date：2015-07-29 115

Food & Beverage

Food investments in the region grew from US$13,688 million to US$23,757 million from 2010 to 2014

THE Gulf Organization for Industrial Consulting (GOIC) in its latest GCC Food Industries Directory reports the growth in the food sector from 2010 to 2014.

The number of food factories operating in the GCC expanded from 1,606 to 1,965, a CAGR of 5.2%, and the number of workers increased from 159,613 workers to 238,825, a CAGR of 10.6%. In the same period, investments rose from US$13,688 million to US$23,757, a CAGR of 14.8%.

The food sector accounts for about 12.1% of the total manufacturing industries, about 6.2% of the total investments and 15.6% of the total manufacturing labor force, said GOIC Secretary General Mr Abdulaziz Bin Hamad Al-Ageel.

GOIC Secretary General Mr Abdulaziz Bin Hamad Al-Ageel

“The food industries sector is one of the main pillars of a sturdy economy; it is an important sector that is based on agricultural activities and developing animal resources and fisheries,” Mr Al-Ageel said. “Thus, GOIC endeavoured to provide concerned parties with a variety of easily accessible data on these industries in a scientific fashion in accordance with international standards in the area of directories.”

GOIC provides documented and updated outputs prepared by its experts based on its developed databases, as well as offers consulting services, researches and studies. The publications are reference materials which aim to help decision makers, researchers, investors and all stakeholders in their efforts to develop the economy of the region, said Mr Al-Ageel.

Charts courtesy of the GOIC:

Number of food manufacturing factories in GCC countries according to industrial activity

No. of Firms	2010	2011	2012	2013	2014	Growth Rate 5 Years	2014%
Processing & Preserving of Meat & Fish	171	196	208	204	212	5.5%	10.8%
Processing & Preserving of Fruit & Vegetables	175	208	210	204	234	7.5%	11.9%
Vegetable & Animal Oils & Fats	32	36	36	38	35	2.3%	1.8%
Dairy Products	152	149	145	138	130	-3.8%	6.6%
Grain Mill, Bakery & Macaroni Products	376	411	420	418	414	2.4%	21.1%
Cocoa, Chocolate & Sugar Confectionery	106	128	139	133	145	8.1%	7.4%
Prepared Animal Feeds	77	84	96	95	101	7.0%	5.1%
Soft Drinks, Mineral Waters & Other Bottled Waters	231	258	292	285	318	8.3%	16.2%
Other Food Products N.E.C.	286	302	359	342	376	7.1%	19.1%
Manufacture of Food Products	1,606	1,772	1,905	1,857	1,965	5.2%	100.0%

Investments in GCC food industries according to industrial activity

Investment - Million $	2010	2011	2012	2013	2014	Growth Rate 5 Years	2014%
Processing & Preserving of Meat & Fish	1,283	1,424	1,492	1,603	2,218	14.7%	9.3%
Processing & Preserving of Fruit & Vegetables	728	834	842	828	928	6.2%	3.9%
Vegetable & Animal Oils & Fats	526	641	641	646	689	7.0%	2.9%
Dairy Products	1,958	3,033	2,914	3,038	4,491	23.1%	18.9%
Grain Mill, Bakery & Macaroni Products	4,041	4,518	4,259	4,629	4,715	3.9%	19.8%
Cocoa, Chocolate & Sugar Confectionery	755	749	970	922	1,124	10.5%	4.7%
Prepared Animal Feeds	796	1,050	1,131	1,160	1,852	23.5%	7.8%
Soft Drinks, Mineral Waters & Other Bottled Waters	2,588	3,174	3,301	3,396	5,844	22.6%	24.6%
Other Food Products N.E.C.	1,013	1,154	1,892	1,844	1,895	16.9%	8.0%
Manufacture of Food Products	13,688	16,575	17,443	18,066	23,757	14.8%	100.0%

Air Max 95 Stussy