Food Retail Sector Poised for Growth in the UAE

According to our newest research offering, “Booming Retail Sector in UAE”, the UAE has emerged as one of the fastest growing retail markets in the entire MENA region. Enormous oil wealth along with fast growing middle class population proved decisively beneficial for the industry. The industry is growing at blistering pace and has surpassed various other industries. Food retail in particular, showed impressive market developments in the past and is further anticipated to post 9.9% CAGR by 2013.

 

The study identified that among GCC countries, with US$ 54,600, the UAE has the highest GDP per capita income after Qatar. But the UAE has a larger consumer base than Qatar. The high per capita GDP of the UAE among the GCC countries reflects increasing disposable income of its people and therefore, the healthy economic conditions. It sets the stage for foreign players (retail players) to easily enter the market and establish their bases. In coming years also, the country will continue to sustain its income lead, which will directly result in retail industry growth.

 

Further, food retail being the largest segment of retail industry has shown some notable market developments in recent years. The market has seen the expansion of hypermarkets and supermarkets, which annex the market share of independent grocers and food specialists. Still, the penetration of organized food retailing is quite low compared to other fast growing market but it is poised for stupendous growth in coming years backed by several factors discussed and analyzed in the report.

 

Apart from food retail, segments such as apparel, cosmetics and personal care, air conditioning equipments, consumer electronics have also substantially contributed in the overall market developments. The aggressive electronic and print media promotional strategies, online retailing etc. are the emerging market trends, which will further boost the market outlook of aforementioned segments during our forecast period.

 

Our report, “Booming Retail Sector in UAE”, is an outcome of extensive research and objective analysis of the UAE retail industry potentials. It provides statistics/information on market performance of segments including food & beverage, food retail, apparel, computers, consumer electronics, cosmetics, and personal care. Our report also provides information on key roadblocks, which needs to be addressed to formulate successful business strategies.  

For more information visit: http://www.rncos.com/Report/IM108.htm