The GCC food service market size was valued at USD 31.80 billion in 2022 and is projected to grow from USD 34.33 billion in 2023 to USD 62.25 billion by 2030, exhibiting a CAGR of 8.87% during the forecast period.

Sports tourism plays a pivotal role in any country’s growth and is a significant driver of economic development. It has a crucial significance on tourism, lifestyle, and, ultimately, a city’s reputation. In the last few years, Gulf countries, such as the UAE, Saudi Arabia, and Qatar, have firmly placed themselves as a global destination hub for sports events and have worked strategically for several years to invest in their resources and capabilities to develop and enhance the sports industry.

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Segmentation:

QSR Segment to Dominate Due to Rising Popularity of New Restaurant Formats

The market is segmented into full-service restaurants, quick-service restaurants (QSR), and others. The QSR segment holds the largest market share, driven by its diverse food and beverage offerings at competitive prices. The growing trend of innovative restaurant formats, such as virtual kitchens and ghost kitchens that focus on food delivery services, further supports the demand for QSRs.

By Country: The market is analyzed across Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, and the Rest of GCC.

Report Coverage:

The report provides an extensive analysis of key segments, emerging trends, market drivers and restraints, and the impact of COVID-19. It also includes regional insights and strategies adopted by major market players.

Drivers and Restraints:

Increased Spending on Fast Food and Out-of-House Consumption to Boost Market Growth

The GCC food service market is expanding due to rising consumer spending on fast food and increased out-of-house dining. Fast food consumption is notably increasing among the younger population, while the expansion of restaurant chains across Gulf countries is further fueling growth. Additional factors such as foreign investments, rising incomes, a growing youth demographic, increased tourism, and evolving food preferences are also contributing to market expansion.

However, challenges such as a heavy reliance on food imports and limited natural resources may restrict market growth.

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Country Insights:

Saudi Arabia to Dominate Market Growth with Rising Tourist Influx

Saudi Arabia is projected to hold the largest share of the GCC food service market, driven by increasing tourist arrivals. The expansion of shopping and food malls, coupled with the growing trend of opening food outlets within these malls, further supports this growth.

The UAE holds the second-largest market share, primarily fueled by the flourishing tourism sector in cities such as Dubai, Abu Dhabi, and Sharjah.

Competitive Landscape:

American Restaurants Collaborate with Yum! Brands to Expand Pizza Chains

Leading players in the GCC food service market include Starbucks, McDonald’s, and Yum! Brands. These companies are enhancing their production capacity to cater to a broader customer base. For instance, American Restaurants signed an agreement with Yum! Brands to establish and operate pizza outlets in Saudi Arabia, with plans to open 30 new restaurants by 2023 and expand to 100 outlets within three years.

List of Key Players Profiled in the Report: –

  • Starbucks Corporation (U.S.)
  • Yum! Brands, Inc. (U.S.)
  • McDonald’s Corporation (U.S.)
  • Restaurant Brands International Inc. (Canada)
  • Domino’s Pizza, Inc. (U.S.)
  • Papa John’s International, Inc. (U.S.)
  • ALBAIK Food Systems Company Ltd. (Saudi Arabia)
  • Herfy Food Services Co. JSC, KSA. (Saudi Arabia)
  • Kitopi (United Arab Emirates)
  • Aura Group (Qatar)

Key Industry Development:

In May 2022, CKE Restaurants Holdings, Inc. formed a strategic collaboration with Universal Pictures to promote the film Jurassic World Dominion. This partnership launched exclusive movie-themed burger offerings, aiming to draw in customers and drive sales growth.

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