F&B is a recession-free industry, and the brands have already realised it. Gulfood 2019 held from 17 to 21 February 2019, bolstered it, reports Kaunain Shahidi, business & technology editor, Packaging MEA
Without any ambiguity, the food industry can be considered as ‘The evergreen industry’, which has taken strident steps, and consistently offered pleasant surprises. With all the transformative technologies around and ever demanding consumers, a lot is happening inside the industry which has the potential to impact various related industries including the closest one, the “Packaging Industry”.
The recently concluded Gulfood, the world’s biggest annual food trade show, showcased global diversity of the food industry. The mega event was very interestingly divided into eight main sectors including beverages, dairy, fats and oils, health, wellness and free-from meat and poultry, power brands, pulses, grains and cereals, and world food.
The five-day mega exhibition held earlier this month once again attracted high- calibre interest including ministers, top trade envoys and national organisations from the four corners of the globe. The show indeed offered a perfect platform for game-changing business deals, new market opportunities and emerging trends while setting the agenda for the future of food.
In general food and beverage markets represent the largest consumption group for packaging materials and machinery. From flavoured water to organic milk and chicken soup to vegetable burgers and cereal bars to freshly squeezed juice products, all these products demand quite a bit from the packaging. It was exciting to notice that almost all different formats of packaging used by the food producers in the Gulfood with the emphasis on the use of recyclable and sustainable packaging materials within the commercial viability.
It was also observed that the consumers’ focus and choice of healthier lifestyles and rise in preferring and consuming organic products have tremendously paved the innovation across the food and packaging industry. There are plenty of innovative food products, and many exhibitors showcased suitable packaging formats.
Interestingly it is not limited to just consuming the healthier foods, but there’s a sense of awarness about what and when to eat. There’s a knowledge of where the food comes from and how it is produced, which will keep the industry innovating and offering the best as demand would continue for ready- to-eat and ‘on the go’ foods and drinks, especially for time-pressed Arab digital generations of MENA.
As the Global population is expected to exceed 8.4 billion by 2030, the global food and beverage industry is growing at CAGR 5% and global expenditure on food products by consumers is expected to reach US$20 trillion by 2030. The focus would remain on health, convenience, naturality and sustainability.
Food sales in the UAE are expected to grow to 130 billion AED by 2021 whereas e-commerce will be an essential catalyst.
Consumers are increasingly seeking food and drink innovations that are sustainable throughout the product lifestyle, offer healthy ageing solutions at any life stage, and deliver upgraded convenience.