Saudi Arabia Ready Meals Market

Saudi Arabia Ready Meals Market Overview

The Saudi Arabia Ready Meals market has grown significantly in recent years. GMI Research expects revenue for the Saudi Arabia Ready Meals market to increase from USD XX million in 2022 to USD XX million in 2030, growing at a compound annual growth rate (CAGR) of 6.7% percent over the forecast period 2023-2030.

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Major Saudi Arabia Ready Meals Market Drivers

Saudi Arabia ready meals market is primarily driven by increasing demand for convenience food products, changing consumer behaviour rise in women’s participation in the workforce and growing popularity of foreign cuisines. Ready-to-eat, frozen and processed food items are becoming more popular amongst consumers as these food products have stable shelf-life and requires less preparation time. Since women’s participation in the workforce is increasing, they will have less time to prepare meals at home, which is expected to increase the demand for such products in coming years. Moreover, the expatriate population has increased significantly in recent years, in 2021 the expat population in the country was estimated to be 13.49 million. Expats working in Saudi Arabia comes from different geographies and bring in different varieties of cuisines and food culture, coupled with expansion of retail outlets like supermarkets in the country, are positively impacting the Saudi Arabia ready meals market growth.

Major food companies are focusing on healthier ready meals products to fulfil the increasing demand of consumers. In addition, ready meals which has low in calories, sugar and salt is further expected to attract consumers to shift towards ready to eat meals in KSA. The other factors such as increasing per capita income, hectic lifestyle of people and rising population size is boosting the market growth. However, rising incidence of obesity and chronic diseases along with the increasing awareness of harmful effects of ready to eat products will hinder the Saudi Arabia Ready Meals market.

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Category – Segment Analysis

Frozen Ready Meals is the largest category segment of the Saudi Arabia ready meals market due to the unique benefits such as high shelf life of the frozen product at an reasonable price. Increased awareness about the nutritional balanced diet among consumers will drive the frozen ready meals segment. In addition, frozen food contains minerals, vitamins, protein and carbohydrate while providing similar taste to consumers.

Product – Segment Analysis

According to Saudi Arabia ready meals market Analysis, Burger segment to exhibit highest growth over the forecast period as burgers is one of the preferred food choices by Saudi young population. As fast-food influence is likely to rise among young generations will drive this market.

Distribution Channel – Segment Analysis

Retail and Supermarket segment estimated to grow at the fastest rate during the forecast period due to the easy availability of a various types of products at attractive offers. For instance, brick and mortar stores provides detailed information regarding the self-life and ingredients which are used in the products.

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Top Market Players

Major players operating in the Saudi Arabia ready meals market include Savola Group, Sunbulah Group, Conagra Brands, Inc., McCain Foods, Halwani Brothers Co., Ltd, Nestle, Al Karamah Dough Production Co. Ltd, Limited, Americana Group, Kraft Heinz Company, Supreme Foods Processing Company, among others.

Key Market Developments:

• • • In May 2019, Majid Al Futtaim announced that it has completed the acquisition of grocery platform Wadi.com by investing USD 30 million. Through this acquisition, Carrefour will become company’s long-term partner for supplying food and non-food grocery items.
    • In May 2018, Savola group acquired 51% stake of Al Kabeer Group, a frozen food player with operations in major GCC countries, to expand its investment portfolio.

Segments covered in the Report:

The Saudi Arabia Ready Meals market has been segmented based on Product, Category and Distribution Channel. Based on Product, the market is segmented into Meat Products, Pizza, Parathas and Tortilla wraps, Prepared Salads, Biryani, Cup Noodles, Burger, Poultry Products, Sea Foods and Others. Based on Category, the market is segmented into Dried Ready Meals, Canned Ready Meals, Frozen Ready Meals and Others. Based on the Distribution Channel, the market is segmented Offline and Online.

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Key questions answered in this research report:

• • At what pace is the Saudi Arabia Ready Meals market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Saudi Arabia Ready Meals market? What will be the impact of drivers and restraints in the future?
  • What are the various application areas of Saudi Arabia Ready Meals market, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation:

Saudi Arabia Ready Meals Market by Category

• • Canned Ready Meals
  • Frozen Ready Meals
  • Dried Ready Meals
  • Others

Saudi Arabia Ready Meals Market by Product

• • Parathas & Tortilla wraps
  • Biryani
  • Meat Products
  • Pizza
  • Cup Noodles
  • Prepared Salads
  • Poultry Products
  • Sea Foods
  • Burger
  • Others

Saudi Arabia Ready Meals Market by Distribution Channel

• • Offline Stores
  • Online Stores

Saudi Arabia Ready Meals Leading market players (Option 1: Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • The Savola Group
  • Sunbulah Group
  • Americana Group
  • Halwani Brothers Co., Ltd.
  • Supreme Foods Processing Company
  • Al Karamah Dough Production Co. Ltd
  • McCain Foods Limited
  • Kraft Heinz Company
  • Conagra Brands, Inc.
  • Nestle S.A.