Cooking ingredients and meals continued its recovery in total volume terms in 2022. A significant number of expats left the country after the outbreak of COVID-19 but they are now returning.
As the impact of COVID-19 on the market has subsided and economic activity this has benefited sales of cooking ingredients and meals, especially through the foodservice channel. Owing to the several long holidays during the first half of the year, there was also an increase in domestic tourism in the country which also boosted sales both through the off-trade and on-trade channels.
The climate in Oman tends to have an impact on food preferences. Specifically, the constant heat means a general preference for fresh produce, rather than shelf stable packaged food.
Oman projected a fiscal deficit of OMR1.5 billion in 2022, down 32% year-on-year, as growth in state spending was outpaced by stronger growth in revenues on the back of projected higher oil and gas receipts.
The Sultanate’s Oman Logistics Strategy has laid out long-term objectives for increasing the contribution of the logistics sector to its GDP. Oman’s strategic objectives over the past several years of the review period focused on easing congestion and enhancing capacity by investing in infrastructure and technology for new ports and road links, as well as expanded routes for national airline carriers.
An expected post-pandemic economic recovery coupled with an increase in the population should have a positive impact on demand for cooking ingredients and meals over the forecast period, with steady growth projected in total volume terms. It is important to note that the population of expatriates in the country has declined since 2018 due to the Sultanate’s Omanisation programme and the fallout from the pandemic.
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Cooking Ingredients and Meals
This report originates from Passport, our Cooking Ingredients and Meals research and analysis database.
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