In terms of countries, Saudi Arabia accomplished largest revenue share in the GCC Cafe and Coffee Market – 6Wresearch
Saudi Arabia registered a higher revenue share during the year 2022 in GCC Cafe Market and the same trend would be witnessed in the upcoming years owing to the rise in construction of hotels, and smart cities such as Diryah Square under Saudi's Vision 2030 which is expected to be completed by 2024 with an aim to attract 27 million domestic and international visitors by 2030. The rising food and beverage sector of the country alongside focused efforts towards increasing tourism would lead to expansion in overall market of coffee and cafes in the region. The gulf countries are investing hugely to promote tourism in a bid to diversify their economy. Tourists have been a major source of revenue for cafes in the region. This would drive the cafe and coffee market in the GCC region to have accelerated growth during the forecast period.
According to 6Wresearch, the GCC Cafe market size is projected to grow at a CAGR of 9.1% during 2023–2029. The continent is witnessing enormous investment in tourism as well as hospitality sectors with the purpose to expand tourist arrivals and lower their dependence on an oil-based economy.
According to 6Wresearch, the GCC Coffee market size is projected to grow at a CAGR of 9.6% during 2023–2029. The GCC countries saw more than 50 million arrivals of international tourists in 2022 and the figure is expected to grow significantly which would increase demand for coffee in hotels, restaurants, malls and others and subsequently increase demand for cafes.
According to Ravi Bhandari, Research Head, 6Wresearch, the GCC cafe and coffee market would witness accelerated growth during the forecast period on account of rising tourist arrivals, corporatization coupled with increasing presence of international coffee chains.
The GCC Cafe and Coffee Market (2023-2029)” report provides an in-depth analysis with 128 figures and 8 tables, covered in 128 pages. The report on GCC Cafe and Coffee Market comprehensively covers the industry by country. The report provides a detailed as well as unbiased analysis of the on-going drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per to the latest and future market dynamics.
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