At the end of the review period, consumer foodservice in Middle East and Africa was continuing to recover from the major dip in sales seen in 2020, when COVID-19 first hit the region. This was being made more difficult by high inflation, which has been forcing industry players to push through price rises as well as negatively impacting consumers’ purchasing power in some countries. Saudi Arabia, with its Vision 2030 initiative, is helping to drive the overall regional performance.
This report comes in PPT.
Saudi Arabia is seeing strong growth in its consumer foodservice industry, boosted by the post-pandemic resumption of the Hajj and Umrah pilgrimages at full capacity as well as its Vision 2030 initiative. Vision 2030 is driving the building of new shopping malls as well as helping to boost inbound and domestic tourism, among many other things.
In addition to the Israel-Hamas war and protests surrounding the potential Judicial Reform, Israeli consumers were being impacted by high inflation at the end of the review period. With inflation pushing up costs and prices and eating into their purchasing power, many consumers were foregoing outings to consumer foodservice outlets, negatively impacting value sales.
With waning purchasing power in a time of high inflation, Nigerians have been looking for affordable and filling food, such as that offered by street stalls/kiosks. While other foodservice operators were having a tough time due to high inflation, street stall/kiosk numbers were increasing, helping them to become the most numerous channel in terms of outlets.
As the United Arab Emirates continues to position itself as a global hub for commerce, tourism and innovation, consumer foodservice is poised to capitalise on these opportunities. With a diverse and dynamic population fuelling demand for culinary experiences from around the world, the future outlook for consumer foodservice in the local market remains promising.
Consumer foodservice is composed of cafés/bars, full-service restaurants, limited-service restaurants, self-service cafeterias and street stalls/kiosks.
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