GCC food industry on a sustainable, balanced growth path

Food consumption in the GCC is expected to expand at a CAGR of 4.2% from an estimated 48.1 million metric tonnes (MT) in 2016 to 59.2 million MT in 2021, indicates investment banking advisory firm Alpen Capital. This growth is primarily attributable to increase in the consumer base, coupled with a higher per capita income, as the GCC economies stage a sustained economic recovery from the recent downturn.