Key Growth Drivers
- Economy: Qatar is the richest economy in the world. Country’s GDP per capita (PPP) to grow at a 3.8% CAGR between 2014 and 2018. A positive economic
outlook and high disposable income are likely to aid an increase in the food consumption in the country.
- Population: Is expected to grow at at CAGR of 4.8% between 2014 and 2019.
- Tourism: Qatar is a major sport tourism destination in the region. Every year, it organizes international sport events such as football, tennis, racing, and golf. Such
vents would continue to drive the country’s tourism industry.
- Government Initiatives: In order to achieve food security in the region and meet growing demand, the government is investing heavily in various food sectors.
- Lifestyle: The Qatari food industry is strengthened by factors such as rising expatriate
population, tourism, and a developing taste for western foods. The countrys food retail
sales are estimated at US$ 11.0 billion, showing a 13.1% y-o-y increase and accounting for
46.4% of its total retail sales.
Modern retail formats of hypermarkets and supermarkets are gaining popularity among busy consumers in the GCC. Food retail sales in the region
are expected to grow at a 7.7% CAGR between 2013 and 2018
Key initiatives from the Government to Improve Food Supply
- FOOD: Qatar currently imports approximately 90% of its food needs. The state of Qatar aims at lowering this between 60% to 70% by 2023, through the use of advanced technology in the field.
- MEAT: The Qatari government announced plans to commence operations at a new US$ 55 million ultra-modern meat processing plant in February 2015. The factory is not only expected to cater to Qatar’s meat demand entirely, it also has plans to export the surplus to the neighboring countries.
- SEAFOOD: The Ministry of Environment and Qatar University announced plans to set up a US$ 63.2 million aquatic research center. Expected to commence operations in 2016, the project aims to address the issue of the country’s declining fish stock.
- POULTRY: To quadruple the country’s poultry production, the Qatari government announced plans to develop a new chicken farm complex with an annual production capacity of up to 40,000 tonnes of chicken and 7.5 tonnes of eggs. The project received financial commitments of US$ 206 million from institutional investors.