GCC Prepared Meals Market Outlook

Synopsis
The above chart is GCC Prepared Meals Market Outlook (2018 to 2032)

Market Dynamics

the gcc prepared meals market outlook for 2018-2032 indicates a steady growth in the sector, with the uae leading the charge on the regional level. this can be attributed to factors such as an increase in youth population, increased spending power of the middle class, and a shift in consumer preferences toward healthier food. the food delivery and quick-service restaurants sector within the region is expected to witness a considerable growth in the period due to modern technology, convenience and competitive prices. in 2018, the gcc prepared meals market was estimated at $48.7 million and is projected to obtain a compound annual growth rate (cagr) of 7.0% till 2032. saudi arabia is projected to be the biggest spender, with an expected cagr of 7.5%. kuwait is slated to witness the largest increase in demand for prepared meals, due to increasing population and demand for convenience by working couples. the key players in the gcc prepared meals market are international companies, such as create ltd., foodies, just eat, amazon restaurants, and delivery hero. local companies such as kibsons international, souq, and arabile are also competing on the market. these companies have develop innovative solutions such as apps and food delivery platforms that make ordering and tracking food easier than ever, which drives the growth of the gcc prepared meals market. the competitive pricing adopted by the key players is likely to result in significant discounts, which will further drive market growth during the forecast period. the changing consumer preferences and the growing demand for healthy and organic food will benefit the market as consumers are becoming more aware of the nutritional values and health benefits of eatables. convenience is expected to remain a crucial factor for the prepared meals market in the gcc region. the majority of the work force in the gcc is employed in the corporate sector, where long working hours do not permit traditional cooking habits. as a result, the demand for special diets and convenience food are expected to rise over the forecast period – in particular, home-style cooked meals made with fresh ingredients. furthermore, with the lifestyle movements of youths, gcc packaged foods will need to innovate and offer better ingredients, diversity and convenience. in conclusion, the overall gcc prepared meals market is expected to see steady growth during the forecast period, due to readily available convenience food and the opportunities offered by the large number of international and regional players. this growth is expected to be driven by increasing demand due to population growth, improved spending capacity among middle-class consumers, as well as convenience factors.