Middle East

In 2023, cooking ingredients and meals will no longer be impacted by the COVID-19 pandemic, and the on-trade industry is booming once again. Despite high inflation in 2022, prices, particularly edible oils, have dropped, however, the industry…

The cost of living continues to rise in Israel, and economic uncertainty is leading to wariness about investing in the domestic economy. Inflation reached the highest levels since 2008 in January 2023. Electricity prices rose by 9% in August 2022,…

Charge cards follow a typical pattern in Saudi Arabia, where such cards have a set consumer base consisting of, mainly, affluent Saudi citizens who use these cards while travelling. Therefore, the rebound of travel and tourism following the pandemic…

Consumers in the United Arab Emirates are increasingly seeking healthier options of sweet spreads, including those with reduced sugar content and fewer additives. In addition, nut and seed based spreads are gaining popularity in the local market,…

The market for sweet spreads continued to see positive growth in volume terms in 2023, albeit at a slower pace than the previous year. This was mainly due to the stabilisation of sales via the foodservice channel, following a boom in the aftermath of…

Local consumers are becoming increasingly focused on health and wellness trends, resulting in an increase in demand for sauces with healthy claims. Health-conscious consumers are selecting alternatives to traditional high-calorie sauces, as well as…

Following a two-year period of decline, sauces, dips and condiments returned to positive growth in retail volume terms in 2023. In 2021 and 2022, demand was negatively impacted by disruptions to the global supply chain, which pushed up production…

In 2023, closed loop pre-paid cards witnessed a decline in transaction value and volume, consistent with a continuing trend as consumers increasingly shift towards payment apps. Despite some consumers still having significant value loaded onto their…

The local workforce has returned, with employees actively seeking convenience as they rebalance their professional and personal lives. Therefore, retail demand for ready meals and prepared salads continues to steadily rise in the United Arab Emirates…

Meals and soups witnessed positive growth in volume terms in 2023, thanks to the normalisation of consumer lifestyles post-pandemic, including the reopening of schools and the return of consumers to their physical workplaces. The number of women in…

In 2023, Israel is experiencing a notable surge in the use of digital wallets, largely driven by the rising number of providers and the inherent convenience they offer. The entry of major players like Apple Pay in late 2021 significantly boosted the…

The number of health-conscious consumers is on the rise in the United Arab Emirates. Increasing numbers of local consumers are following a balanced diet, and they are selecting healthy food sources. Edible oils is one of the categories in which…

Players in edible oils continued to face a number of ongoing challenges towards the end of the review period, not least logistical issues created by the ongoing conflict in Ukraine. The country is the world’s largest exporter of sunflower oil, and…

In 2023, Israel experienced a notable surge in debit card usage as more individuals opted to pay with credit cards instead of cash. The number of debit cards in circulation increased remarkably. Furthermore, the volume of transactions using debit…

In early 2023, the Israeli government is set to mandate Discount Bank to divest its credit card business, Visa Cal, aiming to enhance competition within the credit card market. This move will introduce a new player to the credit market, fostering a…

Retail demand for cooking ingredients and meals continues to grow in the United Arab Emirates. The increase in the expatriate population and the boom in tourism since the easing of pandemic restrictions, are positively impacting retail volume growth…

Cooking ingredients and meals witnessed positive growth in volume terms in 2023, thanks to a trend of easing inflation (particularly during the second half of the year) and an increase in the rate of employment, which together had a positive impact…

Consumer lending in Saudi Arabia is on the upturn, as the Kingdom has generally recovered from the aftereffects of the COVID-19 pandemic. Moreso, due to consumer behaviour and expenditures unwaveringly affected by the pandemic, along with 15% VAT,…

In 2023, the Bank of Israel implemented a significant benchmark interest rate hike. This resulted in a sharp increase in mortgage payments, impacting individuals who hold mortgages and loans. The aggressive interest rate hikes have escalated mortgage…

Other personal lending continues to be an area of interest in Saudi Arabia, as this category primarily constitutes personal loans taken for medical purposes and travelling. This has been particularly prominent since the end of pandemic restrictions…