Saudi Arabia Food Service Market to be Dominated by Casual Dining Service Restaurants During the Forecast Period
Increasing variety of cuisines,
growing support from online food delivery services, and surging tourism will
drive the Food Services Market in Saudi Arabia.
According to TechSci Research
report, “Saudi Arabia Food Service
Market - Industry Size, Share, Trends, Competition, Opportunities and Forecast,
2018-2028F” The Saudi Arabia food service
market is expected to grow during the forecast period owing to the factors such
as growing trend for dining outside home, rising purchasing power, surging
working population and rising innovation in the food service.
Similar to many other nations, going to
cafes and coffee shops or eating at quick service and fast-food establishments
has become a popular way to socialize with friends in Saudi Arabia as well. Owing
to the large number of millennials, the expanding tourism sector, and the
widespread acceptance of various cuisines, the dining-service restaurant
segment holds the significant share of the market.
Numerous opportunities exist
for the development of Saudi Arabia's food service sector due to the country's
rapidly changing demographics. Saudi Arabia has the largest domestic market in
the GCC as of 2022, with a population that is close to 36 million.
The relatively young age demographic, with 53% of the population between the
ages of 15 and 44, is more significant than the population's overall size. This
age group is more likely to spend money in the food and beverage industry and
is more aware of the shifting consumer trends happening around the world.
Browse over XX market
data Figures spread through XX Pages and an in-depth TOC on "Saudi Arabia Food service Market"
The Saudi Arabian food
services market is divided into four categories based on type: QSRs (Quick
Service Restaurants), dining services, cafés, and others (canteens, lounges,
etc.). In the Saudi Arabian food service market in 2020, QSRs (Quick Service
Restaurants) held the largest market share, followed by cafés. Chained consumer
food services are expanding quickly as a result of the rising popularity of
fast food and casual dining. Saudi Arabia is home to an increasing number of
cafés, many of which are branded with familiar international names such as Applebee's,
Outback Steakhouse, Chili's, etc. Additionally, the international chains have
adopted the strategy of localization and customization through clever menu
changes.
Leading market players
operating in the Saudi Arabia food service market are:
- Olayan Food Services Co. (OFS)
- Alamar Foods Company
- Riyadh International Catering
Corporation
- Kudu Company for Food and Catering
- ELBAIK Food Systems Company S.A.
- Herfy Food Services Co. JSC
- Al -Ahlia Restaurant Co.
- Mawarid Food Company Ltd.
- Shawaya House Restaurants Company
- Tanmiah Food Company
To maintain
sustainable growth in the market, major players are concentrating on
diversifying their portfolio of food products. A new investor still has a lot
of room to grow in this market because it's influenced favorably by three main
things: more disposable income, exposure to the outside world, a dearth of
entertainment options, and the growing number of malls in the nation. Moreover,
the international chains have adopted the strategy of localization and
customization through clever menu changes. For instance, the McArabia Grilled
Chicken Sandwich from McDonald's is an illustration of this. Similar to this,
in November 2021, Domino's introduced a new side dish called Domino's
Oven-Baked Dips to go with their bread twists. These dips come in three distinct
flavors such as Cheesy Marinara, Five Cheese, and Baked Apple.
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The Saudi Arabian food service market is
divided into five distinct geographic segments: Western, Central, Eastern,
Southern, and Northern regions. Owing to the region's high population density,
expanding industrialization, and growing number of eateries, the Western region
has the largest market for food service. Furthermore, due to the presence of
sizable urban agglomerations that fuel an increase in demand for food services,
states in the region such as Al-Jouf, Tabuk, Jeddah, Medina, and Mecca exhibit
tremendous growth potential. Moreover, the growing demand for food services in
the nation is being fueled by better lifestyles, rising purchasing power, and
rising per capita income in the region.
“Owing to Saudi
Arabia's growing urbanization, rising tourism numbers each year, and propensity
for purchasing international brands, the food service industry is predicted to
expand quickly. Other factors contributing to the growth of the nation's food
service market include the rising number of working women, shifting consumer
preferences for high-end product quality, and international brand expansion.
Being targeted consumer segments for the major players in the market,
working-class and dual-income families are also likely to contribute to market
growth,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Food Service
Market By Type (Dining Service (Hotels, Restaurants), QSR (Quick Service
Restaurants), Cafes, and Others (Cafeteria, Cloud Kitchen, etc.)), By Ownership
(Standalone Outlets and Chained Outlets), By Domestic Vs. International Brands
(Domestic Vs. International), By Region, Competition Forecast &
Opportunities, 2028” has
analyzed the future growth potential of Saudi Arabia food service market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and assist decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with significant
drivers, challenges, and opportunities in Saudi Arabia food service market.
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