Increasing variety of cuisines, increasing support from online food delivery services and growing tourism will drive the Food Services Market in Saudi Arabia.
According to the TechSci Research report, “Saudi Arabia Foodservice Market – Industry Size, Share, Trends, Competition, Opportunities and Forecast, 2018-2028F” The food service market in Saudi Arabia is expected to grow during the forecast period due to factors such as the growing tendency to eat out, increasing purchasing power, increasing working population, and increasing innovation in food service.
Similar to many other countries, going to cafes and coffee shops or eating at quick service and fast food centers has become a popular way to socialize with friends in Saudi Arabia as well. Due to the large number of millennials, expanding tourism sector and wide acceptance of diverse cuisines, the dining service restaurant segment holds the significant market share.
There are many opportunities for the development of Saudi Arabia’s food service sector due to the country’s rapidly changing demographics. Saudi Arabia has the largest domestic market in the GCC as of 2022, with a population close to 36 million. The relatively young age demographic, with 53% of the population between the ages of 15 and 44, is more significant than the overall population size. This age group is more likely to spend money in the food and beverage industry and is more aware of the changing consumer trends happening around the world.
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The food service market in Saudi Arabia is divided into four categories based on type: QSR (Quick Service Restaurants), dining services, cafes and others (canteens, lounges, etc.). In the Saudi Arabian food service market in 2020, QSRs (Quick Service Restaurants) had the largest market share, followed by coffee shops. Consumer food chain services are expanding rapidly as a result of the increasing popularity of fast food and casual dining. Saudi Arabia is home to a growing number of coffee shops, many of which are branded with well-known international names such as Applebee’s, Outback Steakhouse, Chili’s, etc. In addition, international chains have adopted the strategy of localization and personalization through clever menu changes.
The major market players operating in the Saudi Arabia food service market are:
- Olayan Food Services Co. (SFO)
- Alamar Foods Company
- Riyadh International Catering Corporation
- Kudu Food and Catering Company
- ELBAIK Food Systems Company SA
- Herfy Food Services Co. JSC
- Al-Ahlia Restaurant Co.
- Mawarid Food Company Ltd.
- Shawaya House Restaurant Company
- Tanmiah Food Company
To maintain a steady growth in the market, major players are focusing on diversifying their portfolio of food products. A new investor still has a lot of room to grow in this market because it is favorably influenced by three main things: more disposable income, exposure to the outside world, lack of entertainment options and the number growing shopping centers in the country. Moreover, international chains have adopted the strategy of localization and personalization through clever menu changes. For example, the McArabia grilled chicken sandwich from McDonald’s is an illustration of this. Similarly, in November 2021, Domino’s introduced a new side dish called Domino’s Oven-Baked Dips to go with their bread. These dips come in three different flavors such as Cheesy Marinara, Five Cheese and Baked Apple.
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Saudi Arabia’s foodservice market is divided into five distinct geographic segments: Western, Central, Eastern, Southern and Northern regions. Due to the region’s high population density, growing industrialization and increasing number of restaurants, the western region has the largest market for food service. Furthermore, due to the presence of significant urban agglomerations that drive an increase in demand for food services, states in the region such as Al-Jouf, Tabuk, Jeddah, Medina and Makkah exhibit tremendous growth potential. Moreover, the growing demand for food services in the country is being fueled by better lifestyles, increasing purchasing power and rising per capita income in the region.
“Due to the increasing urbanization of Saudi Arabia, increasing tourism numbers every year and the tendency to buy international brands, the food service industry is predicted to expand rapidly. Other factors contributing to the growth of the country’s food service market include the increase in the number of working women, changing consumer preferences for high-end product quality, and international brand expansion. Being the target consumer segments for the major players in the market, working class and dual income families are also likely to contribute to the growth of the market,said Mr. Karan Chechi, Director of Research with TechSci Research, a global research-based management consulting firm.
“Saudi Arabia Food Services Market by Type (Dining Service (Hotels, Restaurants), QSR (Quick Service Restaurants), Cafe & Other (Cafeteria, Cloud Kitchen, etc.)), By Ownership (Retail Stores) independent and chained points), According to locals Vs. International brands (domestic vs. international), by region, forecast and competitive opportunities, 2028” has analyzed the future growth potential of the food service market in Saudi Arabia and provides statistics and information on market size, structure and future market growth. The report aims to provide cutting-edge market intelligence and help decision makers make sound investment decisions. In addition, the report also identifies and analyzes emerging trends along with significant drivers, challenges, and opportunities in the foodservice market in Saudi Arabia.
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