MarkNtel Advisors presents a comprehensive research report on theSaudi Arabia Ready-to-Cook Food MarketSize, Share, Analysis, Future expected to reach CAGR of 5.83% by 2028.delving into a thorough analysis of the industry's changing dynamics, growth drivers, challenges, key trends, and lucrative opportunities. This study aims to provide stakeholders in the market with detailed insights, enabling them to make informed and strategic decisions that will yield higher revenues in the coming years. With a focus on delivering value, the report covers a wide range of aspects, ensuring a holistic understanding of the market landscape.
Unlocking Market Insights: Exploring Key Aspects in the Saudi Arabia Ready-to-Cook Food Market Report (2023-2028)
- It analyzes the fluctuations in revenue across different segments and geographical regions, considering the evolving trends and purchasing patterns of end-users.
- The report highlights key developments, including the introduction of new services, expansion of product portfolios, revenue generation strategies of major players, stakeholder investments, and the role of governments.
- Additionally, it offers an unbiased overview of market trends, innovations, technological advancements, and fluctuations, as observed by industry experts.
- To ensure reliable data generation and analysis, the report utilizes tools such as SWOT (Strengths, Weaknesses, Opportunities, Threats) and PESTLE (Political, Economic, Social, Technological, Legal, and Environmental) analysis.
- The competitive landscape section of the report showcases the dynamic strategies employed by leading players to enhance profit margins and expand their market presence across different regions.
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Market Dynamic
Key Trends: Launch of Frozen Food in many Varieties to Attract New Customers
The rising consumption of Ready-to-Cook food items in Saudi Arabia has intended companies to launch a variety of frozen foods such as minced meat, sausages, etc. For instance, in 2022, Brazilian food brand Seara launched 120 halal frozen food products across Saudi Arabia, including the food items such as meatballs, frozen seafood, vegetables, etc. The new range of products aimed to attract a new customer base that wants to consume halal food.
Hence, the growing consumption of a variety of Ready-to-Cook food products is expected to encourage companies to launch more of these food products, thereby positively impacting the market in the forecast year.
Key Driver: Inclination of Millennial Customers Towards Ready-to-Cook Food Products
In Saudi Arabia, millennial customers have been increasingly adopting Ready-to-Cook food products such as pasta, noodles, frozen fries, frozen meatballs, etc., as working-class individuals in the country have been looking for readily available pre-cooked food items due to their busy lifestyles. The working class is the largest consumer of these meals due to their busy lifestyle, hence, the rise in the number of working professionals would elevate the consumption of Ready-to-Cook meals.
Along with this, the demand for Ready-to-Cook food products has been propagated during the outbreak of the COVID-19 pandemic, as the government of Saudi Arabia restricted outdoor movements. This inclined millennial customers to consume these food items, such as frozen food items, ready-to-mix, and others, during their work-from-home period.
Nonetheless, even after COVID-19, the trend of consuming these food items has consistently grown, as consumers in Saudi Arabia have gradually shifted towards these food products due to their numerous benefits. As a result, it is expected that the growing adoption of Ready-to-Cook food products by millennial customers will positively influence the growth of these food items in the upcoming years.
Possible Restraint: Health Concerns Among Individuals to Restrict the Market Growth
The population in Saudi Arabia has been majorly suffering from various health concerns such as diabetes, obesity, etc. Owing to this, some consumers are restricting themselves from consuming Ready-to-Cook food items, as they contain too many vegetable oils, such as canola, sunflower, corn, cottonseed oil, etc., which contain unhealthy polyunsaturated fatty acids. They also contain too many chemicals, such as artificial flavors, sucralose, etc.
Therefore, due to the presence of such additives in these food items, consumers suffering from obesity, heart diseases, etc., are restricting themselves towards their consumption, limiting the growth of the Saudi Arabia Ready-to-Cook Food market in the forthcoming years.
Growth Opportunity: Massive Investments in Poultry Meat Production to Uplift the Market Growth
Due to the rising demand for meat products in Saudi Arabia, the government has been massively investing in expanding poultry meat production facilities in the country. For instance, in 2022, the Ministry of Environment, Water, and Agriculture of Saudi Arabia announced investments of nearly USD4.5 billion in establishing poultry meat production units by 2025 to reduce its meat import dependency from other countries.
Thus, the establishment of new poultry meat production facilities in the country would further fulfill the demand for raw materials like chicken meat, etc., to the companys manufacturing of Ready-to-Cook food products, thereby magnifying the growth of the market during 2023-2028..
Thecompetitive landscape of the Europe Probiotic Supplements Marketdepicts the dynamic scenario among industry players, highlighting their market positions, strategies, and initiatives. It encompasses an analysis of key competitors, their strengths, weaknesses, opportunities, and threats (SWOT analysis). The report also sheds light on the market share, product offerings, business expansion, collaborations, mergers and acquisitions, and other strategic activities undertaken by these players to gain a competitive edge. Additionally, it examines the competitive intensity, market barriers, and potential entry of new players, providing a comprehensive understanding of the market's competitive landscape.
-Nestl
-General Mills
-Almunajem Food
-Savola Foods
-Knorr Arabia
-Mamee Double-Decker
-Sunbulah Group
-Al Kabeer Group ME
-Gulfwest Company Ltd.
-Halwani Bros.
-Almarai Company
-Others (Herfy for Food Services Company JSC, etc.)
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Segmentation Unveiled: Analyzing Saudi Arabia Ready-to-Cook Food Market's Expansion and Mapping Demand, and Distribution across Geographies
By Product Type
-Frozen
--Meat Poultry
--Vegetables
--Others (Fries, Sweet Corn, Paratha, etc.)
-Ambient
--Soups Sauces
--Noodles Pasta
--Ready-to-Mix
--Others (Snacks, etc.)
By Food Preferences
-Vegetarian
-Non Vegetarian
By Sales Channel
-Online
-Offline
--Conventional Retail Outlets
--Hypermarket Supermarket
--Other Retail Channels
By End Users
-Individual Users
-Hotels Restaurants
-Others (Military, etc.)
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On the geographical front, the Saudi Arabia Ready-to-Cook Food Market expands across:
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