Saudi Arabia red meat market is expected to register a CAGR of 3.47% during the forecast period 2018 to 2023-Foodex Saudi
Saudi Arabia red meat market is expected to register a CAGR of 3.47% during the
forecast period 2018 to 2023. Government support has enabled manufacturers to
improve production technology and to compete with international food suppliers
in terms of prices and quality.
Increase in Number of Fast Food Chains, Hotels, & Restaurants – Boosting the Red Meat Market in Arab Nation
Saudi Arabia is among the most visited countries in the Middle East. The expat population is the reason for increased consumption of meat in the country. Demand for red meat has been increasing in Saudi Arabia. However, more in demand are the high-value cuts of red meat. Companies are investing significantly in meat protein bars. It is emerging as an enormous opportunity for protein bar manufacturers.
Internet Retailing Continues to Grow in Saudi Arabia Enzymes due to Improved Online Payment System
By meat type, there has been an increase in consumption of mutton and beef. Storage type plays a crucial role in the Saudi Arabian red meat market owing to high volumes of import. The fresh meat market is dominated by lamb meat, which is easily available from local butchers. Hence, factors, such as high nutritional benefits and easy availability, drive the market for fresh meat.
By distribution channel, the Saudi Arabia red meat market can be segmented into HoReCA, supermarket/hypermarket, slaughterhouse retailers, online retailers and others. Red meat sales online is expected to grow tremendously, with an estimated CAGR of 4.85% during the forecast period. Major PLAYERS: AMERICANA GROUP, HALWANI BROTHERS COMPANY and BRF S.A. amongst others.
Source: Market Research