The Ice Cream sector in Saudi Arabia is forecasted to grow at CAGR of 7.6% in value terms during 2017-2021-Foodex Saudi
Saudi Arabian Ice Cream sector accounted for a volume share of 0.52% of the global market and 29.9% of the regional (Middle East & Africa) market. The sector and is forecast to grow at a CAGR of 7.6% during 2017-2021. Increasing disposable income coupled with rising consumer spending and growing demand for high quality products are the key growth drivers in Saudi Arabian Ice Cream sector. Further, growing consumer awareness for Ice Cream with health and wellness attributes is also contributing to the growth of the sector.
The consumption of Ice Cream is high among the female population in Saudi Arabia. Moreover, consumption is particularly high amongst those consumers who received Primary education. In terms of consumption by age group, Early Young Adults and Older Young Adults together accounted for 36.6% share in 2017. Impulse Ice Cream - Single Serve was the largest market by value sales in 2017.
On-trade transactions account for a leading share in the distribution of Ice Cream products in Saudi Arabia. In 2017, On-trade transactions held a value share of 41.6%, followed by Hypermarkets & Supermarkets. Flexible Packaging is the most commonly used package material in the Saudi Arabian Ice Cream sector. In 2017, it accounted for a share of 72+%, followed by Paper & Board and Rigid Plastics.
Igloo is the leading brand in the Saudi Arabian Ice Cream sector. The top five brands in the sector accounted for a value share of 44.2% in 2017.
Source: Market Research