Saudi Arabia’s food consumption projected to reach SR259.4 billion in 2018 - FOODEX
Published 2017-07-03 10:51:37
Saudi Arabia’s food consumption projected to reach SR259.4 billion in 2018. In sum, capital spending in the food sector will expand further, while the value of the casual dining sector will increase at a growth rate of 3% per annum.” Associated with the opening of every restaurant in the Kingdom, is a promise potential of job opportunities.
Industry experts predict significant growth in both revenues and number of outlets in the sector. The current count of full-service chain restaurants, which includes casual dining and fine dining outlets, in the Kingdom stands at almost 1,200, and account for a greater part of revenues in the sector.
With total food service sales recently recorded at SR33.3 billion, Saudi Arabia has by far, the lion’s share of the region. Under this umbrella, it is the ‘fast food and quick service’ category that is the largest, and notably, it is ‘casual dining’ which is growing the second fastest at a growth rate of 3% per annum.
Source: Saudi Gazette