Middle East And North Africa Food & Drink Q4 2020
The Covid-19 pandemic and subdued oil prices have a strong negative impact on MENA consumers over 2020.However, as an essential spending segment, we note that consumer expenditure on food and drink through grocery channels isshielded from the adverse impact. As such, we project household spending on food items to increase by 16.2% y-o-y (USD terms) in2020, while non-alcoholic drinks spending will also post significant growth at 10.9% y-o-y. Over the medium term, we highlightinvestment opportunities in the region's discounter grocery retail segment as well as e-grocery, which has been accelerated by theCovid-19 pandemic. In this quarter's report, we zoom in on food security and self-sufficiency in the MENA region, as well as theconsumer spending outlook on meat and poultry.
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