2020 Outlook for the F&B Industry!

06-12-2019

With every passing year, the Food and Beverages Industry goes through certain trend changes. Let’s take a look at some of the areas where the industry will undergo significant changes in 2020:

• In 2020, don’t be surprised to witness plant-based diets. With Keto and Vegan diets stepping in – it’s predicted that restaurants will try to incorporate a dedicated plant based menu. Like the Gulfood Global Industry Outlook Report 2019 states, “Natural ingredients, sugar reduction and free-from labels remain the F&B industry’s main priorities”
• Health before all seems to be the trend in 2020! Healthier Snack and lunch options like chickpeas, quinoa and kale will take over the market.
• Consumers are looking at more sustainable options with regards to packaging considering the climatic changes.

On the whole, the industry is expected to see a 20% increase in demand, given the number of entrepreneurs entering the market. According to KPMG forecasts, the number of food and beverage venues is slated to increase to over 19,000 in 2020, up from the 16,000 venues as of now. The Gulf F&B markets have consistently followed a CAGR of around 10% during past decade and the UAE market expanded by CAGR of 12%.

“The foodservice industry is ever-growing and will continue to do so. This is mainly due to robust tourism, coupled with people’s huge appetite for trying and experiencing new things,” says Atti Abuassi, Group CEO of Al Mayar Investment.

What are your thoughts on the same? We’d love to know!