The 2018 edition of Gulfood, which runs from 18-22 February, is the world’s largest annual food and beverage trade event and the first major international food industry trade show of the year. And it will further strengthen the UAE’s lead role in setting the global food agenda, according to the exhibition organizers, Dubai World Trade Centre (DWTC). Citing the long-established reputation of Gulfood as a key driver in fostering innovation across the local, regional and global food and beverage supply chain, DWTC officials revealed on-site sales generated by 95,000-plus buyers and visitors at Gulfood 2018 will contribute heavily to the global food market expected to generate revenues of 3.03 trillion US dollars by 2020, according to Research and Markets, a Dublin-based market research company.
Attracting the Middle East’s trade industry
With the global food market due to register a compound annual growth rate (CAGR) of 4.5 per cent from 2015 to 2020, the UAE food and beverage market alone is anticipated to reach a valuation of 22 billion dollars by the end of the decade, according to Euromonitor International. In attracting the Middle East’s largest trade industry audience, generating huge transactional volumes every year on the show floor, and setting global foodstuff commodity prices, Gulfood is the region’s premier food and beverage industry platform – it underlines Dubai’s leading role in the global food sector, said Trixie LohMirmand, Senior Vice President, Exhibitions & Events, DWTC. With regional investment in food production on the rise, international manufacturers see the Middle East as a lucrative market for their products.
Bright forecasts
In this dynamic climate, Gulfood continues to empower the global food and beverage community as an unmatched trading and knowledge platform that offers unrivaled market overviews and insights to industry professionals. The bright forecast for Gulfood 2018 follows hundreds of major deals struck and initiatives launched at this year’s event, including US beef regaining eligibility to ship beef products to Saudi Arabia, a 31 million market. US exhibitors at the show reported on-site sales of 85.5 million with forecasts of a further 722 million in direct sales as a result of their participation, according to the US Department of Agriculture’s (USDA) Foreign Agriculture Service (FAS).
Trading sectors
The FAS also recruited 47 potential food and beverage suppliers – with a network spanning Asia, Africa, South Asia and the Middle East – to service US exporters at Gulfood. In the UAE, Dubai-based gourmet snacks specialist Hunter Foods signed a lucrative deal with Chinese importers, while the Emirates Authority for Standardisation & Meteorology (ESMA) hosted the pioneering Global Halal Industry Platform. Following a successful debut in 2017, Gulfood 2018 will continue its sectorised approach to further increase accessibility and trading potential. Tens of thousands of finished food and beverages will be featured in halls dedicated to eight of the biggest commodity trading sectors: Beverages; Dairy; Fats & Oils; Health, Wellness & Free-From; Pulses, Grains & Cereals; Meat & Poultry; Power Brands and World Food.