Expanding in Kuwait…a task to achieve
Menu Mechanics understands what makes a restaurant work. Better yet, we’re familiar with the most common challenges that haunt restaurateurs, no matter where they may be in their career. We are focusing on serving existing small and medium-sized food concepts such as quick service restaurants, fast casual restaurant, casual dining restaurants, fine dining restaurants, food kiosks, food trucks, bakeries, food catering companies, bars, cafes, coffeehouses, coffee carts, coffee trucks, roaster, retail, and retail food products. We also assist entrepreneurs and F&B firms throughout the entire process of launching their own dream venture, from ideation to creation.
Starting in Canada and now we’re expanding to Kuwait after a big success in the domain. Here is why Kuwait!
Middle East Market
Many Middle Eastern countries have been growing rapidly in the last decade with the rise of numerous business startups and foreign investments. These steps open up the opportunity to many industries and companies to invest in the region. Plus, many governments now eased regulations for foreign investment which made the work easier. As for the food market we can say that growth in the Middle Eastern food market was due to the rising population, increasing awareness of healthy eating habits and increasing food consumption. However, the market growth would be challenged by increasing food prices, unfavorable climatic conditions and increase dependence on food imports. However, while looking to branch out overseas, Kuwait might offer a great dynamic marketplace to enter and is worth considering if the Middle East Is a target export region. This small but wealthy country is particularly fond of British products, and local consumers demonstrate strong purchasing power, especially when it comes to experimental products and trying something new. So, without further ado, let’s jump straight in and found out more about the food and drink landscape of Kuwait.
Kuwait F&B Market
The Kuwait restaurant industry is shaped by several factors, including macroeconomic conditions, technological trends, and the investment/M&A climate. As incomes rise and the tourism sector is set to expand, the country’s F&B sector is set for further growth. Kuwait food and beverage market size is poised to report strong growth rate over the forecast period due to increasing population, rising disposable incomes, coupled with changing trends and product innovations. Constantly renovating plans among the consumers is first rung of the ladder regarding the strategies of success in Kuwait Food and Drinks companies. In addition, we shall note that change in lifestyles, growing demand for processed and ready to eat foods has increased among the consumers, which is boosting Kuwait’s food and beverages market growth. In specific, Kuwait currently has the fastest growth rate for food consumption in the whole GCC area, with the sector expected to grow by 9.6% per annum over the next five to ten years.
The country has made moves to strengthen its food security – and thus the supply chain for restaurants – through efforts to boost local farming and commodities, through a mix of incentives and subsidies. There are also plans to open more land for food production. Until those food security issues can be more fully resolved, though, those in the restaurant and hospitality sectors remain exposed to external shocks of price fluctuations.
In the end, of course growing in the Middle Eastern region, especially in Kuwait is not an easy task and it will be a challenge that we as Menu Mechanism team are ready to take and achieve