In response to consumers seeking more meaningful experiences, the culinary landscape in the UAE is evolving. Local concepts are making waves globally, enhancing the country's culinary reputation.
JLL's whitepaper, titled "A Flavorful Journey: A Comprehensive Look at the Evolution and Trends in the UAE’s F&B Sector," predicts that the UAE's F&B market will skyrocket to $19.98 billion by 2024.
Highlighted by Mordor Intelligence within the whitepaper, the F&B sector is anticipated to surge to $43.98 billion by 2029, with a remarkable compound annual growth rate (CAGR) of 17.09%. This growth is fueled by a robust tourism sector, a thriving economy, and fierce competition within the UAE. With a 3% GDP growth in 2023, projections suggest further growth to 4% and 5% in 2024 and 2025, respectively.
Kostas Papadakis, Manager of Foodservice Consulting, MENA at JLL, notes, "From the rapid expansion of fast food to the flourishing fine dining scene and the rise of specialty coffee, the diversity and innovation in the UAE’s F&B offerings mirror a market finely tuned to consumer tastes and global trends."
The UAE's dedication to sustainability, tailored dining experiences, and the triumph of local concepts underscore its emergence as a culinary leader on the global stage, aligning with the nation’s diversification agenda.
Reflecting consumer preferences in H1 2023, fast food maintained its dominance in Dubai and Abu Dhabi, commanding 36% and 35% of the food service market, respectively.
Specialty coffee has also gained traction, with Dubai witnessing a 25% surge in new Refuel and Relax outlets in 2022. Abu Dhabi experienced a notable 12% increase during the same period, signaling a growing trend in the region.
