Qatar- Food industry to flourish despite crisis  

(MENAFN - The Peninsula) Food companies and packaging industries will continue to grow despite the current global crisis. Al Bayader International, the leading distributor and manufacturer of food packaging products for the retail and catering industries in Qatar and the region, recently said that the industry in the Middle East is expected to continue to grow at an average of 10 to15 percent annually.

"This growth is in line with international forecasts confirming food companies and industries related to food, such as disposable items and other sectors, will escape unscathed from the economic and financial market developments. They will even increase their market by 10 percent in 2009," said Nidal Haddad, Chief Executive Officer of Al Bayader. The comment confirms analysts' views supported by market research.

One recent survey conducted in the United States, which looked at over 800 companies, concluded that the food and packaging industries increased more than 10 percent during the fourth quarter of 2008. The survey found that 59 percent of food and food packaging companies project revenue increases for the next 12 months.

"The food packaging industry remains healthy and will continue to be so, driven by the fact that food and food packaging consumption is not going to weaken and that changing social trends will lead to increased usage of disposable food packaging," added Haddad.

Al Bayader remains on track with its five-year expansion plan. The Qatar and UAE manufacturing facilities continue to feed the market with 30 percent of Al Bayader's sales. New production lines are also expected to be installed in the Qatar facility once the new QR17 million hub is completed next month.

"Food and food related industries like packaging and disposable packaging companies have historically been a 'safe haven' during turbulent times for the market. Current share prices of diversified food and food packaging companies validate this fact. They remain strong globally," Haddad explained.

Haddad states new social trends as another factor that is helping grow the food packaging sector. "People are beginning to eat more at home, ordering food from take- away restaurants or buying food from fresh food counters in hypermarkets and supermarkets," he said.