Published On: Sun, Aug 9th, 2015

Food market could exceed $1tr in MENA by 2030

The World Bank estimates the MENA region’s food industry could be worth $1tr by 2030, with the GCC positioned to become a major logistics hub, lead by Saudi Arabia.

Food is the key driver for the logistics market in Saudi Arabia, which is anticipated to reach values of $18bn this year.

With an ambitious target to become the world’s leading global transport and logistics hub by 2020, the Kingdom imports around 70 percent of its food requirements from 160 countries in around half a million annual consignments, according to the Saudi Food and Drug Authority (SFDA).

According to Alpen Capital’s GCC Food Industry Report the UAE investment in food processing and packaging machinery exceeded AED1 billion for the first time in 2012.

“The Kingdom’s burgeoning F&B sector has increased the demand for safe and efficient material handling and logistics systems and our new, steel-enforced, hygienic plastic pallet product has been purposely designed for food companies,” said Engineer Shadi Alziq, Project Manager, RePall – a leading manufacturer and international supplier of plastic pallets.

 

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