Executive Summary
The food & beverage industry is one of the promising sectors in the GCC region and has shown a strong appetite for growth for a longer period. The COVID-19 pandemic has led to a severe downfall in the industry growth and reduced the demand for people's spending. The industry is one among the most affected by COVID-19 due to lockdowns, travel restrictions and social distancing. This report analyses the growth prospects for the sector and provides an insight into recovery prospects from COVID-19 impacted decline, regional versus global players, the key growth drivers and pain points, the impact of new trends like online ordering, and trends like cloud kitchens.
Key Discussion Points
- Growth in F & B outlets post COVID-19.
- Recovery of Average Sales per Outlet post COVID-19.
- Regional vs Global QSR Players
- Impact of online ordering on the sector
- Impact of emerging trends like cloud kitchens
- Impact of regulatory changes like VAT
- Success story of Talabat, the online food ordering platform
- Rental trends impact on the sector prospects
Did you know?
- The total food service outlets in the GCC nations is estimated to be more than 134,000 in 2020.
- The overall market expenditure of Saudi Arabia on food and beverage is estimated to be more than USD 50 billion in the year 2020.
- KSA is a leading market for QSR chains such as McDonalds, KFC and Pizza Hut and they have 304 stores, 220 stores and 222 stores, respectively.
- Total restaurant sales of UAE are expected to reach USD 8.9 billion by 2025
- Kuwait market is the third largest among the GCC nations and the Food & Beverage sector accounts for 1.6% of the non-oil GDP
- The Food & Beverage in Oman market is expected to reach the pre-pandemic level of business in the year 2022.
