Bahrain's FMCG and Retail Sectors Lead Economic Growth with 10.7% Expansion

Bahrain, 30 August, 2024 :  Bahrain's fast-moving consumer goods (FMCG) and retail sectors are playing a key role in the nation’s economic transformation. According to Information and eGovernment Authority (iGA) data, the 'Accommodation and Food Service' activities, one of the largest non-oil sectors, achieved a 10.7% growth rate.

Rising consumer spending and increased tourism have fueled growth in Bahrain’s retail sector, with strong performances in food, beverages, electronics, and personal care products. Consumers are increasingly opting for premium products, especially in health, wellness, and technology.

Bahrain’s FMCG sector is also evolving, with growing demand for healthier food options and premium beverages. The convenience food market is expanding, and online sales are on the rise, reflecting a global shift towards e-commerce.

Despite facing challenges like high operating costs and intense regional competition, the FMCG and retail sectors have opportunities for innovation. The rise of e-commerce and sustainability trends are pushing businesses to adopt new models and products. 

Experts like Grant Thornton's managing partner, Jassim Abdulaal, highlight the sector's growth potential, especially in premium and health-conscious products. Bahrain's strategic location as a gateway to the GCC further enhances its appeal for FMCG companies looking to expand regionally.

Source : www.zawya.com