Saudi Arabia Cafés Market to Grow at a CAGR of Over 7% till 2026F
Increasing per capita disposable income
coupled with rising popularity of coffee and growing tourism industry is
expected to drive the cafés market in Saudi Arabia.
According
to TechSci Research report, “Saudi
Arabia Cafés Market, By Ownership (Standalone
Outlets & Chain Outlets), By Segment (International & Domestic), By Sales
Channel (Retail Sales & Online), By Region, Competition, Forecast & Opportunities, 2026F”, owing to rapid urbanization and disposable
income, the Saudi Arabia cafés market has grown at a rapid pace in recent years
and is expected to grow at a CAGR of more than 7% in the forecast period. Over
the forecast period, the growing tourism industry and rising youth population
are expected to be the major factors driving the cafés market in Saudi Arabia. Furthermore,
a growing urban population base, strong product awareness, and shifting societal
norms are creating opportunities for restaurant and café owners across the
country by meeting the demand for high-quality food. Furthermore, changing
tastes and preferences due to western influence are expected to drive the
demand for cafés in Saudi Arabia.
On March 2nd, 2020, Saudi Arabia reported the first case of COVID-19.
The Saudi Ministry of Health and public health experts worked tirelessly to
halt the spread of the virus. The Saudi government imposed a three-month
lockdown and curfew across the country by the end of March 2020. During the
pandemic, nutrition was regarded as a public health priority in order to build
strong immunity and prevent virus transmission. As a result, people have begun
to focus on healthy diet routines in order to combat the virus. These dietary
changes are expected to impede the Saudi Arabia cafés market to some extent. The
pandemic has had a significant impact on Saudi Arabia's tourism industry as
well. Holy sites such as the Kaaba, the Great Mosque of Mecca, the Prophet's
Mosque, Al Haram, and others are well-known pilgrimage destinations visited by
millions of people each year. The Great Mosque of Mecca is one of the most
important Hajj and Umrah pilgrimage sites in Saudi Arabia. To combat the spread
of coronavirus, the government closed its borders to overseas umrah pilgrims
and tourists from at least 25 countries beginning in March 2020. Later in the
month, travel within and outside the country was halted, which had an effect on
the Saudi Arabia café market as people were restricted to stay at home.
Browse 2 market data Tables and 13 Figures spread
through 75 Pages and an
in-depth TOC on "Saudi Arabia Cafés Market"
https://www.techsciresearch.com/report/saudi-arabia-caf%C3%A9s-market/7558.html
Cafés market in Saudi
Arabia is categorized by ownership, by segment, by sales channel, by region and
by café chain. In terms of by ownership, the Saudi Arabia cafés market is
segmented into Standalone Outlets & Chain Outlets. Among which, Chain
Outlets market has accounted for the majority share in the Saudi Arabia cafés market
in 2020 followed by Standalone Outlets. With the growing popularity of fast
foods and casual hangouts, chained outlets are growing at a fast pace. Chain
Outlets are increasing in number, with international brands, like McDonald’s, Applebee’s,
KFC, Dominos, Chilis, etc. marking their presence in Saudi Arabia. Moreover,
the global chains have followed the strategy of customization and localization
through intelligent modifications in their menus.
In terms of sales
channel, the Saudi Arabia cafés market is segmented into Retail Sales &
Online. Among which, Retail Sales have dominated the Saudi Arabia cafés market
with the market share of more than 74% in 2020, as people in the country enjoy
going out and hangout in cafes. Moreover, rising youth population, changing lifestyle
and preferences, etc. are also some factors fueling the market.
In terms of region, the Saudi
Arabia cafés market is categorized into Western, Central, Southern, Eastern and
Northern region. The cafés market in the western region was the largest in 2020
due to better product availability, increasing tourism in the region, brand
expansion by many companies and hub for the nearby cities followed by the central
region. This is mainly because of the increasing tourism in these regions every
year and due to changing lifestyle and preferences, rising per capita income,
and growing population.
In terms of company, some
of the major players operating in the Saudi Arabia cafés market are Applebee’s,
Starbucks, T.G.I. Friday’s, Chili’s, Java Time, and others. In 2020, Applebee’s
held the major market share in the country’s cafés market and is expected to
continue its dominance through 2026F. Leading players are focusing on expanding
their café outlets to maintain sustainable growth in the market.
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“Saudi
Arabia cafés market is expected to grow at a rapid pace due to growing
western influence, rising number of tourists, increasing per capita income and likeliness
towards international brands. Also, due to changing customer tastes and
preferences by high-end product quality, international brand expansion is
another reason for the growth of Saudi Arabia cafés market. Rising digital and social media penetration, combined with
rising penetration of smartphones have led to increasing awareness and aspirations
for latest food offerings”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based global management consulting firm.
“Saudi Arabia Cafés Market, By Ownership (Standalone Outlets & Chain Outlets), By Segment (International
& Domestic), By Sales Channel (Retail Sales &
Online), By
Region, Competition, Forecast & Opportunities, 2026F” has
evaluated the future growth potential of Saudi Arabia cafés market and provides
statistics and information on market structure, consumer behavior and trends.
The report is intended to provide cutting-edge market intelligence and help
decision makers take sound investment evaluation. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities available in the Saudi Arabia cafés market.
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