Gulfood trade show generates over $50M in sales for PHL exhibitors
PHILIPPINE FOOD exporters generated $50.65 million worth of sales as exhibitors at the Gulfood 2023 food and beverage expo in Dubai, the Department of Trade and Industry’s (DTI) export promotion arm said.
The Center for International Trade Expositions and Missions (CITEM) said in a statement on Monday that 18 exporters showcased healthy and halal-certified products at Gulfood 2023 under the FOODPhilippines banner between Feb. 20 and 24, exceeded their target by over 300%.
The products included fresh and processed fruit and vegetables, processed marine products, ethnic and gourmet products, non-alcoholic beverages, confectionery, biscuits, pastries, and other food and beverage categories.
According to CITEM, the exhibitors generated 400 inquiries during the trade show, helping them establish new export leads.
Gulfood is the largest food and beverage sourcing event in the region, with 48% of exhibitors using the food and beverage expo as an entry point into the global market.
CITEM said the value of the global halal food market was estimated at $1.5 billion in 2023 and is projected to hit $2.5 billion by 2027. It was citing projections by research firm Business Research Co.
Philippine participation in Gulfood 2023 was organized by CITEM, in collaboration with the Philippine Trade and Investment Center-Dubai. — Revin Mikhael D. Ochave