Saudi Arabia Foodservice Market This market research provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Research classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
Saudi Arabia foodservice market is forecasted to reach USD 31.6 billion by 2024 growing at a CAGR of 5.9% during the forecast period (2019 – 2024).
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– Growing demand for home delivery and foodservice providers is expected to drive the market. Increasing health consciousness and growing rate of obesity among the Saudi Arabian population is challenging the market. Companies are coming with new and innovative healthy food with organic and natural ingredients in an attempt to overcome the challenges faced by the players in the industry.
– The eating-out trend in KSA is growing rapidly and has become a major attraction in the GCC region. With limited options available for entertainment, the culture of eating out has gained a higher preference in GCC. This dinning pattern in the GCC region is strongly impacting the KSA foodservice market.
Scope of the Report
Saudi Arabia foodservice market offers the services provided by the full-service restaurant, fast food, Catering or Institutional Food Sector restaurant, cafe, and structured as independent consumer foodservice, chained consumer foodservice
Market competition by Top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the Top players including-
McDonald’s, Domino’s Pizza, Inc, Yum! Brands RSC, Burger King, Herfy Food Services Co., Starbucks Corporation, Al Tazaj, Kudu
Key Market Trends-
Chained Consumer Food Service to Foster the Market
With the growing popularity of fast foods and casual dining, chained consumer food services are growing at a fast pace. Casual dining restaurants are increasing in number in Saudi Arabia, with international brands, like Applebees, Outback Steak House, Chilis, and TGI Fridays, marking their presence. Moreover, the global chains have followed the strategy of customization and localization through intelligent modifications in their menus. An example of this is the McArabia Grilled Chicken sandwich offered by McDonalds. A new investor still has vast potential to enter this space as it is positively influenced by three major factors, namely higher disposable income, global exposure and limited sources of entertainment, together with the ever increasing number of malls in the country.
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Increase In Home Delivery and Take Away Services
The KSA food home delivery service market is driven by an increase in the number of acquisitions and mergers of existing restaurants. HungerStation, an online food delivery service, was acquired by Hellofood, a division of Food Panda, an online food delivery service provider. Further, in 2015, Food Panda fully acquired 24.ae, an online food-ordering marketplace in the Middle East, to expand its presence in the fast-growing online food delivery market. Otlob.com, one of the leading online food delivery platforms in Saudi Arabia, offers a wide range of around 400 restaurants in its menu on its mobile application.
The key insights of the Foodservice Market report:
─The report provides key statistics on the market status of the Foodservice market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
─The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
─The Foodservice market report presents the company profile, product specifications, capacity, production value, and 2014-2020 market shares for key vendors.
─The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
─The report estimates 2020-2024 market development trends of Foodservice Market.
─Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out
─The report makes some important proposals for a new project of Foodservice Industry before evaluating its feasibility.
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Finally, this Foodservice report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Foodservice product development and gives an outline of the potential Saudi Arabia market.
Irfan Tamboli (Sales)
Phone: + 1704 266 3234