The global biomedical refrigerators and freezers market is slated to magnify at a strong CAGR of 4.2% over the period amid 2016 and 2024. The market, which was worth $2.91 billion in 2015, is predicted to upswing to $4.28 billion by 2024…
BMI View: Kuwait benefits from a large and growing wealthy consumer base, which will maintain positive
spending power despite economic pressures. Lower food inflation will further boost consumer spending,
increasing the demand for high-value goods. The country's large Muslim population will support growth
within the non-alcoholic beverage segment stemming from rising prospects for innovation and
premiumisation. The MGR sector remains dominated by government-backed cooperative formats, though
we expect rising need for convenience will encourage modern outlets expansion.
Key Trends & Industry Developments
? Demand for staple foods will remain resilient in Kuwait, with rice and meat sales driving growth.
? Growing investment by foreign companies will boost growth in Kuwait's nearly mature Hot Drinks
? We expect an increase in investment into supermarkets and hypermarkets in Kuwait, as consumer
spending rises and consumers have more purchasing power for premium products.