UAE: Abu Dhabi’s F&B private sector is seeing major growth

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The Food and Beverage (F&B) and Hospitality sector in Abu Dhabi has already seen major growth over the past few years, Chairman of the Abu Dhabi Chamber of Commerce and Industry (ADCCI), Abdulla Mohamed Al Mazrui, said.

This growth was backed by the strong performance in the tourism industry, coupled with the rapid expansion in the emirate’s real estate stock, according to a press release on Wednesday.

Al Mazrui commented: “The first edition of the Abu Dhabi International Food Exhibition (ADIFE) plays a key role in supporting the development of the F&B sector in Abu Dhabi and increasing its competitiveness.”

He added: “As per the latest figures from Abu Dhabi Chamber’s membership database, from 2018 to 2022, new membership registrations at Abu Dhabi Chamber in the F&B and Hospitality sector has maintained growth at a CAGR of 22.2% to hit a record 1,339 new registrations. Furthermore, according to the latest data from the Statistics Centre Abu Dhabi (SCAD), Abu Dhabi’s foreign trade activity in F&B products increased at 3.7% y-o-y in 2021, to reach $4.5bn.”

The UAE National Food Security Strategy 2051 aims to position the country as a world-leading hub in innovation-driven food security and ensure food security under all circumstances. The F&B sector is forecast to see further growth, given the government’s continued commitment to invest in agritech start-ups and the ongoing recovery in tourism activity.

Al Mazrui further noted: “In the upcoming period, we [ADCCI] will enhance our services further to meet the requirements of every private business and strengthen the dialogue between the private sector and government to bring about the best outcomes. As part of the Abu Dhabi International Food Exhibition, we would like to reaffirm our commitment to supporting the private sector and contributing to its growth.”

Held from 6 to 8 December 2022, the first edition of the Abu Dhabi International Food Exhibition takes place at the Abu Dhabi National Exhibition Centre (ADNEC). The event brings major companies specialising in the food, beverage, and hospitality sectors together, in addition to many experts, specialists, and decision-makers in this vital industry.