What Are The Fastest Growing Business In UAE (Middle East)?

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The United Arab Emirates is a country located on the southeastern coast of the Arabian Peninsula. The economy of the United Arab Emirates is the second largest in the Arab world (after Saudi Arabia), with a gross domestic product (GDP) of $570 billion (AED2.1 trillion) in 2014. The United Arab Emirates has been successfully diversifying its economy, although hydrocarbons still make up a large portion of GDP. The United Arab Emirates is a federation of seven emirates, each governed by an absolute monarch.

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Agriculture And Agri-Based Products Business

The United Arab Emirates’ agriculture industry is projected to grow at a CAGR of 3.5% between 2022 and 2027. The United Arab Emirates is a major producer of dates. A total of 328,669 tons of dates will be produced in 2020, according to FAO. Due to a number of government initiatives, such as free cultivation, a 50% reduction in crop protection costs, veterinary services, and a 50% reduction in fertilizers, the United Arab Emirates is increasing its production of various crops despite various unfavorable soil and climate factors.

Cosmetics Business

The U.A.E. color cosmetics market is one of the fastest-growing cosmetics markets in the world. Growth has been attributed to increasing disposable income, growing demand for organic color cosmetic products and its skincare sector, high investments in advertising and marketing initiatives, and an increasing number of digital marketing channels. Color cosmetics revenues in the U.A.E. were dominated by Dubai in 2020.

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Fertilizers Business

According to the forecast, the UAE fertilizer market is anticipated to grow at a robust rate from 2023 to 2027. Plant growth is helped by fertilizers by providing nutrients to the soil. This leads to better production efficiency and enhanced food production. Fertilizers are necessary for the agriculture sector because of the growing population and escalating food demand.

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Furniture Business

The furniture industry is one of the most dynamic and growing markets in the UAE. The sector has seen tremendous growth in recent years, boosted by both domestic demands, due to rising disposable income levels in the region and rising construction activities — as well as regional demand, which is driven by economic growth in regional gulf countries and the GCC.

Textile Business

One of the main sources of employment and income in the UAE is the textile industry. A large number of domestic customers are also served by the country’s textile industry, even though the industry exports to more than 50 countries. Government initiatives, primarily related to infrastructure development, have supported the sector’s growth over the years.

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Pharmaceutical Business

As one of the world’s fastest-growing economies, the United Arab Emirates has continued to build upon the flourishing legacy of its forefathers. In order for the UAE to become a regional pharmaceutical center, the government aims to expand the pharmaceutical market by 27% between 2021 and 2025. By 2025, the local pharmaceutical market is expected to be worth $4.7 billion, about three times what it was in 2011.

Packaging And Printing Business

Over the forecast period 2021 – 2026, the Packaging Industry in the United Arab Emirates will grow at a CAGR of 4.6% to USD 3688.85 million by 2026. Integrating functionality into packaging is of the utmost importance. A growing trend of folding cartons in categories like perfumes and skincare has increased the demand for secondary packaging in the country. The UAE has emerged as one of the fastest growing markets for the printing industry in the Middle East, thanks to its rich cultural heritage and large population.

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