E-commerce in the F&B industry is expected to reach $71.62 billion by 2028
Photo used for illustrative purposes only.
E-commerce in the restaurant industry is booming, with recent research predicting it will reach $71.62 billion by 2028, growing at a compound annual growth rate of 17.8%. The steep upward trajectory is driven by several key factors, including consumers’ dramatic shift towards online shopping for groceries, ready-to-eat food deliveries and healthy produce.
These trends have led to an urgent need for the industry to deepen its e-commerce offerings to improve the ecosystem. Yet, while the segment offers a plethora of opportunities and enormous business potential, there are inevitable growing pains and there is still work to be done to ensure the success of all links in the rapidly evolving digital chain – it it’s not just about linking with aggregators or launching a proprietary online delivery service.
Trends, trials and solutions to truly unleash the potential of e-commerce will be explored in depth for the first time at Gulfood 2022, the 27th edition of the world’s largest annual F&B sourcing event at the Dubai World Trade Center (DWTC ).
Leading brand leaders, food technologists, decision makers, industry leaders and start-up pioneers will gather in Dubai to unpack the industry and set the future agenda, with the all-new Gulfood Inspire conference offering sessions dedicated to e-commerce led by some of the players in the sector. leading innovators, while a targeted networking program will ensure the F&B sector can realize its digital capability.
“F&B e-commerce is experiencing a meteoric rise thanks to a number of key factors. In this region in particular, it is flourishing thanks to an increased potential for high incomes, high Internet penetration, a developed logistics network, modern digital payment systems, a growing population of young tech-savvy people and strong government support. As the undisputed broker of F&B industry transformation, Gulfood will connect and create the future of the digital marketplace, with crucial insights from growers and aggregators,” explained Trixie LohMirmand, Executive Vice President, Exhibitions and Events, DWTC .
“It will be the coming together of an industry that needs to address ecosystem challenges and opportunities, which if overcome can be a huge driver of growth and transformation. he food and beverage industry is very different from just a few years ago, and these new expectations are here to stay beyond 2022,” LohMirmand explained. “Gulfood will focus the industry-wide debate. industry on trends and new value chain networks that will shape the future.”
Today’s consumers are spoiled for choice online, with everything you could want available somewhere at a competitive price, plus easy delivery to your doorstep. The online marketplace is fast, convenient and borderless, and it’s changing the way consumers shop right now.
It’s a fast pace that distributors have had to learn to adapt to and follow to stay ahead of the game.
Bhushant Gandhi, Head of Department – FMCG, Truebell said, “At Truebell, our e-commerce journey started in 2017 and quickly took shape in 2019 as the pandemic accelerated all of our business plans. E-commerce requires a different approach and thought process than traditional retail and restaurant. We feel that we quickly adapted to this with specialized staff to handle this business.
“In 2019, we diversified our business with a global strategy of systematic distribution through all relevant e-commerce channels, including online marketplaces, third-party online retailers and direct sales. Today, the Truebell Fulfillment Center provides over 8,000 SKUs in various categories across food, health, home, and personal care. And continues to expand. »
The rise of e-commerce in F&B is a win-win situation for all, according to local regional online market Noon, which will be one of the high-caliber industry pioneers providing invaluable insight into the five days of Gulfood.
Gulfood 2022 will take place under strict safety and hygiene protocols. DWTC has proven its ability to host the safest face-to-face business environment and host world-class events with the highest security protocols.
Gulfood has established itself as the largest annual F&B sourcing event in the world. Divided into eight specific food industry sectors, the trade-only show is professionally managed and hosted by the Dubai World Trade Center (DWTC).
DWTC brings over 40 years of experience in organizing world-class events in the Middle East and offers local, regional and international exhibitors unparalleled expertise and in-depth market knowledge. Our team organizes over 20 of the largest and most successful international and regional trade shows in the Middle East, providing an ideal platform for business development in the region. Our commitment to continuous innovation within the exhibition industry has supported the rapid growth and development of a wide range of business-to-business and business-to-consumer shows and brought consistent satisfaction to exhibitors and visitors. DWTC works with leading trade bodies and industry associations to ensure that all exhibits deliver total value and are built on the real needs of their specific sector.
Dubai Industrial City: Dubai Industrial City (DI), one of the largest industrial hubs in the region, will highlight its contribution to achieving the UAE’s food security agenda and advanced food manufacturing at Gulfood 2022, the world’s largest annual catering trade show. The business ecosystem will elevate the landscape of dialogue and collaboration with insightful panel discussions and networking opportunities at the gathering.
With over 780 business partners operating across eight industry clusters, DI has been a strategic enabler of key national strategies advancing the UAE’s reputation as a global leader in the industries of the future. The past year has witnessed significant growth for the district’s F&B cluster as innovation-driven producers have joined its diverse community of start-ups, SMEs and international businesses, advancing the guidelines of the industry. 300 billion operation and “Make It in the Emirates”.
Announced towards the end of 2021, WenChao Group is building a state-of-the-art food manufacturing and distribution facility in DI. The Dh735 million facility will harness the power of advanced technology to support an expected annual food production turnover worth up to Dh500 million.
Commenting on this year’s participation, Saud Abu Al Shawareb, Managing Director of DI said, “The drive to empower and expand the industrial sector as the driving force of a sustainable national economy demonstrates the impressive foresight of our leadership.