In the desert nation that lacks water, the UAE government has made food security a priority, aiming to be among the top 10 food-secure countries this year and achieving zero hunger by 2051 – the year its National Food Security Strategy culminates and the country will seek to be dubbed the most food-secure globally.
“We’re not really considering the demands on the food sector, that are going to be extraordinary over the next five to 10 years. We need to develop extraordinary and ambitious solutions,” Dr. Bhaskar Dasgupta, associate director of market development at Abu Dhabi Global Market (ADGM) said during a panel discussing the findings of Alpen Capital's GCC Food Industry 2021 report.
According to Alpen Capital, consumption of food is anticipated to grow at 2.3 percent to reach 52.4 million metric tonnes by 2025, with a greater emphasis falling on domestic production. Outside the UAE and Saudi Arabia, Oman, Kuwait, and Bahrain are forecast to grow at 4.2 percent and 4.1 percent taking higher growth rates in the region.
Overall sector growth will be driven by population expansion as governments enhance economic infrastructure, alongside the much-anticipated revival of tourism as vaccination drives pick up. Upcoming mega-events such as Expo 2020 Dubai and the FIFA World Cup in Qatar will also contribute to growth over the next five years, according to the report.
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