Saudi Arabia Catering Services Market to Grow with a CAGR of 8.49% through 2028
Rising
infrastructural activities and expansion of tourism industry are driving Saudi
Arabia Catering Services Market in the forecast period 2024-2028.
According to TechSci
Research report, “Saudi Arabia Catering Services Market - Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the Saudi
Arabia Catering Services Market stood at USD 6.45 Billion in 2022 and is
anticipated to grow with a CAGR of 8.49% in the forecast period, 2024-2028. The
Saudi Arabia catering services market is a dynamic and rapidly evolving
industry that plays a crucial role in meeting the diverse culinary demands of
the country's population and its expanding hospitality sector. Several key
factors contribute to the market's growth and development, making it an
exciting and competitive space.
One of the
primary drivers of the Saudi Arabia catering services market is the nation's
ambitious economic diversification efforts, as outlined in Vision 2030. This
strategic roadmap aims to reduce the country's reliance on oil revenues and
boost non-oil sectors like tourism and hospitality. As Saudi Arabia opens up to
international tourists and investors, there is a surging demand for catering
services to support various events, from business conferences and exhibitions
to cultural festivals and sporting events. This diversification creates
numerous opportunities for catering companies to showcase their culinary
expertise to a global clientele.
Browse over 34
market data Figures spread through 100 Pages and an in-depth TOC on
"Saudi Arabia Catering Services Market”
The tourism boom
in Saudi Arabia further fuels the demand for catering services. The
introduction of tourist visas, development of tourism destinations like NEOM
and the Red Sea Project, and the hosting of international events and
conferences draw travelers from around the world. These visitors seek diverse
culinary experiences, prompting catering companies to provide not only
traditional Saudi dishes but also international cuisines, catering to a broad
spectrum of tastes.
Consumer
preferences in Saudi Arabia have shifted significantly in recent years. Exposed
to global culinary trends through media and travel, modern consumers seek
convenience, variety, and quality in their dining experiences, whether at home,
in the office, or at events. This has led to a surge in demand for catering
services offering diverse and innovative menus.
Health-conscious
dining has also gained prominence in the kingdom. Consumers are increasingly
concerned about the nutritional value of their meals, leading to a demand for
healthier menu options. Catering companies are responding by providing a wide range
of choices, including vegetarian, vegan, and gluten-free options, while also
focusing on transparency in ingredient sourcing and preparation methods to
ensure the quality and freshness of their food.
Technology plays
a pivotal role in shaping the Saudi Arabia catering services market. The
adoption of digital platforms for ordering and delivery has streamlined
operations and improved the customer experience. Mobile apps and online
ordering platforms make it easier for consumers to access catering services,
browse menus, place orders, and provide feedback.
Moreover,
technology has enabled catering companies to optimize their supply chain,
enhance inventory management, and improve food safety and quality control.
Innovations like kitchen automation, temperature monitoring systems, and food
tracking software are essential tools for ensuring efficient and safe food
production and delivery. Virtual catering services have also gained prominence,
allowing consumers to enjoy restaurant-quality meals in the comfort of their
homes during virtual events and meetings.
In conclusion,
the Saudi Arabia catering services market is a vibrant and evolving sector,
driven by economic diversification, expanding tourism, changing consumer
preferences, technological advancements, and sustainability initiatives.
Catering companies that can adapt to these drivers and provide high-quality,
diverse, and technologically advanced services are well-positioned to thrive in
this dynamic market. As the country continues to diversify its economy and
attract a global audience, the catering industry is poised for further
expansion and innovation.
The Saudi Arabia
Catering Services Market is segmented into service type, end user regional
distribution, and company.
Based on service
type the market is segmented into contractual
and non-contractual.
The
Saudi Arabia catering services market is experiencing a notable increase in the
demand for contractual catering services. This trend is largely fuelled by
businesses and institutions seeking long-term catering solutions. By entering
contracts with catering companies, these entities secure a consistent and
reliable source of high-quality food, essential for employee satisfaction and
operational efficiency. Contractual catering services also offer the added
benefit of tailored menus, flexible service options, and adherence to specific
dietary requirements, making them an appealing choice for organizations across
various sectors.
Based on end
user the market is segmented into hospitality, holy sites, onshore rigs,
healthcare, offshore rigs, education, corporate and others (airlines,
industries, commercial sites, railways, defense, etc.
Based on region
the market is segmented into four regions, Northern & Central, Western,
Southern, Eastern.
Major companies
operating in Saudi Arabia Catering Services Market are:
- Gulf Catering Company
- Saudi Airlines Catering Company
- Sodexo FZE
- Unique Catering Services Ltd.
- Algosaibi Services Company
- Gulf Mahmal Support Services Co. Ltd.
- Al-Karam Al-Arabi for Catering Services Ltd.
- Rezayat Catering & Support Services
- Almays Catering Solutions
- Arabian Gannas Ltd. Co.
- Saudi Catering and Contracting Co.
Download Free Sample Report
Customers can
also request for 10% free customization on this report.
“Booming tourism
industry is a significant trend that is expected to have an impact on growth
over the forecasted period. Growing preference for multi-cuisine, increasing working
population and rising infrastructural activities will positively impact the Saudi
Arabia Catering Services Market. Due to the availability of multicuisine food to
meet specific needs of, as well as the growing popularity of contractual
catering, the market is growing at impressive rate through projected period,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Saudi Arabia Catering Services Market By
Service Type (Contractual, Non-Contractual), By End User (Hospitality, Holy
Sites, Onshore Rigs, Healthcare, Offshore Rigs, Education, Corporate, Others
(Airlines, Industries, Commercial Sites, Railways, Defense, etc.)), By Region,
By Competition Forecast & Opportunities, 2018-2028F”, has
evaluated the future growth potential of Saudi Arabia Catering Services Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Saudi Arabia Catering Services Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com