The market for packaged foods has been growing by nearly 10 percent annually in Gulf Cooperation Council (GCC) countries, said Dubai-based manufacturer Utmost Food . The increase is driven by high per capita incomes, a high proportion of population under 40 years, double incomes, single earners and limited local agricultural production.
Rising demand for packaged heat-and-eat meals, coupled with improved packaging technology, are set to drive the growth further, according to international market studies. The growth is projected to be particularly high in the GCC, as the percentage of young people is proportionately higher compared to other parts of the world.
To meet the growing demand for quick and convenient dining, Utmost Food, part of the Utmost Group, has launched the Ready Meal range of 16 pre-cooked heat-and-eat products in the region.
The Utmost Group has been appointed as the master distributor in the GCC for the packaged Ready Meal products of Hong Kong. The Group intends to use its wide network and to make it the market leader in the Meals Ready-to-eat (MRE) segment.
Ready Meal uses retort packs, a revolutionary new food packaging technology. Widely used in the US military and space program, the retort packs have been adopted for the consumer market with great success.
The retort pack ensures the food stays fresh for over a year. It is ideal for busy professionals and young working couples. The concept uses triple-layered plastic pouches that seal in the freshness and natural taste of the food.
Pre-cooked packaged food is one of the fastest growing industries in the GCC. In the markets of the United Arab Emirates (UAE), Kuwait and Saudi Arabia, there has been a big boom in the consumer-ready segment, leading to intense competition among retailers, emergence of new manufacturers and suppliers.
In Saudi Arabia, packed food sales rose to 24 billion Saudi riyals in 2002, with the ready meals segment registering an increase of 14.6 percent. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
