Fast food sales are expected to grow at a Compound Annual Growth Rate (CAGR) of 7.1% which is estimated of $7.9 billion in 2020-Foodex Saudi
Published 2017-08-28 10:26:58
FAST FOOD CHAINS CONTINUE EXPERIENCING RAPID GROWTH IN SAUDI ARABIA
Saudi Arabia’s restaurant industry has historically been dominated by independent players, which still account for 75% of sales in the region. But chained foodservice companies — particularly international ones as well as important local players — account for the lion’s share of growth, recording 6% transactions volume growth and 9% current value growth in 2015, compared with the 4% transactions volume growth and 5% current value growth recorded in independent consumer foodservice over the course of the year.
Between 2010 and 2020, fast food sales are expected to grow at a Compound Annual Growth Rate (CAGR) of 7.1%, doubling in value from $4 billion in 2010 to an estimated $7.9 billion in 2020. That’s a nominal growth rate nearly double that of the region’s overall GDP growth by country — while GDP is expected to grow 49% in that same period (2010 – 2020), fast food sales will grow 98%.
Source: Aaronallen & Associates