Sales at supermarkets/hypermarkets are forecasted to grow at a CAGR of 4.3% between 2017 and 2020 – Foodex Saudi
According to Alpen Capital, size of the GCC retail sector is forecasted to grow at a CAGR of 4.6% from US$ 250.5 billion in 2016 to US$ 313.2 billion in 2021. The sector is expected to grow steadily through 2021 driven by the expected rise in population, international tourist arrivals and per capita income.
During the forecast period, total retail sales in the GCC nations are projected to grow in the range of 3.3% to 5%. Saudi Arabia and Bahrain are expected to register the fastest growth, driven mainly by increase in tourism activity and per capita income.
Sales at supermarkets/hypermarkets are forecasted to grow at a CAGR of 4.3% between 2016 and 2020. A faster growth rate than food retail sales indicate the rising penetration of such stores.
Source: Alpen Capital