Report: Qatar’s food consumption to grow at 5.5% in the next five years; highest in the GCC
Fuelled by a rising population, Qatar’s food consumption is estimated to grow at an annual rate of 5.5% during 2014-2019 – the highest in the GCC, according to Alpen Capital’s GCC Food Industry report. The average food consumption in the GCC is expected to grow at 3.5% in the same duration.
The country’s high consumption rate has been attributed to several factors including its rapidly rising population, along with an increasing demand for processed and Western foods. High obesity rates are also leading to an increased consumption of food in the fruits (5.9%) and meat (5.6%) categories.
In 2014, Qatar’s food retail sales were estimated to be at US$ 11.0 billion, representing a 13.1% y-o-y increase and constituting 46.4% of its total retail sales. Despite the high food consumption rates, Qatar’s food production is fairly low. Given the lack of cultivable lands and harsh climate conditions, the economy is heavily dependent on food imports. Qatar’s food self sufficiency was reported to be at 9.6% in 2012, the lowest compared to other GCC nations.
The full report can be read here.
[Photo courtesy: Michael Stern via Flickr]