Abu Dhabi’s F&B private sector sees major growth

Abu Dhabi / Gulf Time

Abdulla Mohammed Al Mazrui, Chairman of Abu Dhabi Chamber of Commerce and Industry, (ADCCI), highlighted the growth in the food and beverage (F&B) and hospitality sector in Abu Dhabi, and the importance of the Abu Dhabi International Food Exhibition (Adife) in supporting this growth.
Al Mazrui said, “the first edition of the Abu Dhabi International Food Exhibition plays a key role in supporting the development of the F&B sector in Abu Dhabi and increasing its competitiveness. The F&B industry has already seen a major growth over the past few years, which was driven by the strong performance in the tourism industry and the rapid expansion in emirate’s real estate stock, including hotels, residential units, and commercial segments.
As per the figures from Abu Dhabi Chamber’s membership database, new membership registrations at the chamber in the F&B and hospitality sector has maintained growth at a CAGR of 22.2% to hit a record 1,339 from 2018 to 2022.
Furthermore, according to the latest data from the Statistics Centre Abu Dhabi (Scad), Abu Dhabi’s foreign trade activity in F&B products increased at 3.7% y-o-y in 2021, to reach $4.5bn, where the growth in the emirate’s F&B trade was driven by strong exports activity.”
“The UAE has launched its National Food Security Strategy 2051, which aims to position the country as a world leading hub in innovation-driven food security and ensuring food security under all circumstances, by enabling technology-based production and supply of food, promoting international trade partnerships, and enforcing policies and regulations to enhance nutritional intake and reduce food loss and waste. With the government’s continued commitment to invest in agritech start-ups and the ongoing recovery in tourism activity, the F&B sector is expected to see further growth,” Al Mazrui added.
Al Mazrui commented on Abu Dhabi chamber’s participation in the Abu Dhabi National Exhibition Centre, saying: “As Abu Dhabi chamber is working towards driving the growth of the emirate’s private sector and building a knowledge-based economy, we are glad to support the F&B and Hospitality sectors. Through our participation in the event, we will provide the F&B and hospitality private sector with the opportunity to find out more about our wide range of services to support their growth and contribute to realising the sustainable economic development of the emirate of Abu Dhabi.
Abu Dhabi chamber has a wide range of services for the private sector, from fostering strategic networking opportunities, providing guidance and industry insights, to serving as the medium of communication between the private sector and the UAE government. We support private companies to reach their business objectives and achieve their full potential.”
“In the upcoming period, we will enhance our services further to meet the requirements of every private business, and strengthen the dialogue between the private sector and government to bring about the best outcomes. As part of the Abu Dhabi International Food Exhibition, we would like to reaffirm our commitment to supporting the private sector and contributing to its growth,” Al Mazrui added.