The Saudi Arabian foodservice market expected to record a CAGR of 5.9% during the forecast period (2018–2023) – Foodex Saudi
The Saudi Arabian foodservice market was valued at USD 29.83 billion in 2017, and it is expected to record a CAGR of 5.9% during the forecast period (2018–2023).
Growing demand for home delivery and foodservice providers is expected to drive the Saudi Arabian foodservice market. Cafes are the fastest-growing foodservices and full-service restaurants hold a major share by type in the KSA food service market in 2017.
With the growing popularity of online food delivery services, the overall food service market in Saudi Arabia is forecasted to gain high potential during the forecast period. The eating-out trend in KSA is also growing rapidly, and has become a major attraction in the country. This dinning pattern is strongly impacting the KSA food service market. Also, the high expat population in Saudi Arabia has been contributing to the demand for assorted cuisines and new dining concepts. This is expected to drive the foodservice market in Saudi Arabia.
Source: Mordor Intelligence