Sales of packaged food in the Saudi market to reach nearly US$23.9 billion by 2020
Euromointor forecast sales of packaged food in the Saudi market to reach nearly US$23.9 billion by 2020, an increase of nearly US$6 billion and 34%. High growth items in the forecast include baby food; breakfast cereals; ice cream and frozen dessert; biscuits and snack bars; oils and fats; spreads; sweet and savory snacks; and confectionery. Saudi food retailers carry a wide range of food products, from domestically processed foods to imported upscale specialty and organic food products. The fast growth of retail food outlets in Saudi Arabia provides an excellent opportunity for international suppliers of consumer products to expand their exports throughout the Kingdom.
The Saudi Arabia’s retail food market continues its rapid growth, with several leading Saudi as well as international retailers expanding operation in response to strong competition and rapidly changing consumers’ preferences.