A new report issued by OG Analysis, a leading global market research company, has stated that Morocco’s food and beverage industry size is projected to grow significantly for 2020-2016.
The report stated, “Morocco food and beverage market size is poised to report strong growth rate over the forecast period due to increasing population, rising disposable incomes, and innovative products,.”
The report also takes into consideration observed changes in consumer lifestyle patterns and growing demands to have ready to eat food and drinks available. The increasing number of restaurants, fast-food chains, and food delivery apps like Glovo, Grub hub, Caviar available in the imperial cities Marrakech, Casablanca, and Rabat confirm these changes. The report also indicated that there is a growing interest in organic, natural, and fresh food due to increasing consumer interest in wellness. Marrakech and Casablanca have the most gluten-free cafes and bio shops available.
To calculate their projections OG looked at the growth of the food and beverage market from 2016 and compared its findings against the food and beverage market in the Asia Pacific, Europe, Middle East Africa, North America, and Latin America.
The OG assessment is significant as the food and beverage industry greatly impacts a country’s economy. For 2020, the global food and beverage market is estimated to reach $7 trillion.