Saudi Arabian savory snacks market is forecast to register faster growth at a CAGR of 8.2% during 2017-2021-Foodex Saudi
Arabia ranks ninth amongst the top ten savory snacks markets in terms of per
capita expenditure (in US$ terms), higher only than China. Furthermore, Saudi
Arabia is forecasted to register a moderate growth in their per capita savory
snacks consumption. This growth is primarily attributed to increasing consumer
spending ability, which encourages the Saudi Arabian consumers to spend more on
high quality savory snacks products.
Saudi Arabian savory snacks market grew at a CAGR of 5.6% during 2011-2016. Saudi Arabia has a large base of working population facing a busy life-style, which encourages them to spend less time on traditional meals and seek quick-snack breaks more often, which aids growth in this sector. Consequently, the market is forecast to register faster growth at a CAGR of 8.2% during 2016-2021, when compared to 2011-2016 and is expected to be worth US$568 Million by 2021.
In the Saudi Arabian savory snacks market, potato chips is the largest category in US$ terms, and grew at a CAGR of 6.4% in the last five years and is forecast to record faster growth at a CAGR of 9.1% during 2016-2021. Nuts & seeds is the third-largest category, as has recorded the fastest growth at a CAGR of 6.7% during 2011-2016, is expected to continue being the fastest growing category with a CAGR of 9.5% in the next five years.
Source: Research and Markets