ABU DHABI (WAM)
The Abu Dhabi Chamber of Commerce and Industry (ADCCI) revealed a 19 percent increase in food and beverage exports from the UAE during the first half of 2024 and projected a surge in the sector’s revenue to reach $38.3 billion (Dh141 billion), highlighting the success of the food and beverage industry.
The Abu Dhabi Chamber of Commerce and Industry (ADCCI) unveiled these statistics in a report released to coincide with Global Food Week 2024, a premier platform uniting experts, academics, and international businesses involved in agriculture and food production.
Held under the patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, and Chairman of the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), the event is taking place until Thursday, November 28, at the Abu Dhabi National Exhibition Centre (ADNEC).
The Chamber’s involvement underscores its commitment to achieving the UAE Food Security Strategy 2051 goals and supporting Abu Dhabi’s efforts to enable a business-friendly ecosystem, positioning the emirate as a leading hub for talent, business, and investment.
The event serves as a platform for businesses to achieve global growth and expansion, supported by integrated strategies focusing on sustainable development and high-growth emerging sectors.
ADCCI’s report further highlighted that online sales of Abu Dhabi food and beverages are expected to reach $619 million (Dh2.3 billion) by 2025, driven by increased e-commerce adoption and a growing market.
The report also forecasts a 6.3 percent increase in consumer spending within the food and beverage sector during 2024, further reinforcing its long-term sustainability.
Reflecting the robustness and attractiveness of the sector, 2,540 new companies within the food sector - spanning 178 activities – became members of ADCCI between January and Oct 2023, representing approximately 8.2 percent of the Chamber’s total membership.
Second Vice Chairman of the ADCCI, Shamis Ali Khalfan Al Dhaheri, emphasised the strategic importance of the Chamber’s participation.
“Our participation in Global Food Week aims to strengthen Abu Dhabi’s position as a global investment hub in the food and beverage sector. It aligns with our efforts to support the prosperity of the local business ecosystem, providing both national and foreign businesses with opportunities to thrive and expand globally.”
During its participation in the Abu Dhabi International Food Exhibition 2024, the ADCCI will host seven local small and medium-sized enterprises (SMEs) in its pavilion.
This initiative provides these companies with a platform to showcase their latest innovations and products, reflecting the Chamber’s commitment to supporting local businesses and enabling them to expand into regional and global markets.