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March 18, 2021

Global Food Industries invests in capacity expansion ahead of new product launch

Global Food Industries, a UAE-based manufacturer of halal meats and plant-based protein products, has invested in its sole factory ahead of a planned new product launch.

By Dean Best

Global Food Industries, a UAE-based manufacturer of halal meats and plant-based protein products, has ploughed AED30m (US$8.1m) into its factory in the city of Sharjah to accommodate additional production needs for its new line of cooked foods.

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The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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The investment covers new equipment around multi-stage coating, frying and cooking technologies ahead of the launch of ready-to-eat chicken fillets, strips and nuggets, a spokesperson for Global Food Industries (GFI), which exports to Oman, Kuwait, Bahrain and Saudi Arabia, told just-food.

GFI expects to double revenues over the next five years with the addition of new products, although the company declined to give details on its current financials. The business supplies retailers in the UAE such as Lulu, Carrefour, Union Co-op, Sharjah Co-op and Nesto, as well as foodservice outlets and quick-service restaurants.

Chief executive Ahmed Bayoumi said in a statement: “When the Covid-19 pandemic struck, a predominantly work-from-home setup for employees and distance learning for schoolchildren, plus the potential risk from food deliveries, presented yet another challenge of having to prepare home-cooked meals three times a day.

“These trends serve as excellent opportunities for us to address the market’s need for safe, healthy, delicious and affordable cooked-food products and further grow our business. Investing in expanding and enhancing our production capabilities in this segment and addressing such needs certainly makes a lot of business sense for us at GFI.”

Founded in 1992, GFI has only one manufacturing facility but the spokesperson said the company is evaluating the possibility of setting up a new factory outside of the UAE. Its brands feature Artic Gold, Al Areesh and Al Ameer covering frozen halal meat and poultry, seafood, vegetables and plant-based meats. 

The company is a wholly-owned subsidiary of the diversified Albatha Group, which has a presence in the FMCG sector and also pharmaceuticals, automobiles, real estate and engineering.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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