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Saudi Arabia Foodservice Market Is Estimated to Over the Forecast Period Key Players are McDonald's, Domino's Pizza, Inc, Yum! Brands RSC, Burger King, Herfy Food Services Co., Starbucks

06-23-2020 12:50 PM CET | Associations & Organizations

Press release from: Market Insights Reports

Saudi Arabia foodservice market offers the services provided by the full-service restaurant, fast food, Catering or Institutional Food Sector restaurant, cafe, and structured as independent consumer foodservice, chained consumer foodservice

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Saudi Arabia foodservice market is forecasted to reach USD 31.6 billion by 2024 growing at a CAGR of 5.9% during the forecast period (2019 - 2024).

- Growing demand for home delivery and foodservice providers is expected to drive the market. Increasing health consciousness and growing rate of obesity among the Saudi Arabian population is challenging the market. Companies are coming with new and innovative healthy food with organic and natural ingredients in an attempt to overcome the challenges faced by the players in the industry.

- The eating-out trend in KSA is growing rapidly and has become a major attraction in the GCC region. With limited options available for entertainment, the culture of eating out has gained a higher preference in GCC. This dinning pattern in the GCC region is strongly impacting the KSA foodservice market.

Market competition by Top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the Top players including-

McDonald's, Domino's Pizza, Inc, Yum! Brands RSC, Burger King, Herfy Food Services Co., Starbucks Corporation, Al Tazaj, Kudu
Key Market Trends-

Chained Consumer Food Service to Foster the Market

With the growing popularity of fast foods and casual dining, chained consumer food services are growing at a fast pace. Casual dining restaurants are increasing in number in Saudi Arabia, with international brands, like Applebees, Outback Steak House, Chilis, and TGI Fridays, marking their presence. Moreover, the global chains have followed the strategy of customization and localization through intelligent modifications in their menus. An example of this is the McArabia Grilled Chicken sandwich offered by McDonalds. A new investor still has vast potential to enter this space as it is positively influenced by three major factors, namely higher disposable income, global exposure and limited sources of entertainment, together with the ever increasing number of malls in the country.

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Increase In Home Delivery and Take Away Services

The KSA food home delivery service market is driven by an increase in the number of acquisitions and mergers of existing restaurants. HungerStation, an online food delivery service, was acquired by Hellofood, a division of Food Panda, an online food delivery service provider. Further, in 2015, Food Panda fully acquired 24.ae, an online food-ordering marketplace in the Middle East, to expand its presence in the fast-growing online food delivery market. Otlob.com, one of the leading online food delivery platforms in Saudi Arabia, offers a wide range of around 400 restaurants in its menu on its mobile application.

Major points covered in this research are:-

─Foodservice Market Overview, Segment by Type (Product Category), by Application, by Region (2019-2024), Competition by Manufacturers

─Saudi Arabia Market Size (Value) of Foodservice (2019-2024)

─Saudi Arabia Foodservice Capacity, Production, Revenue (Value), Supply (Production), ─Consumption, Export, Import by Region (2019-2015)

─Saudi Arabia Foodservice Production, Revenue (Value), Price Trend by Type

─Saudi Arabia Foodservice Market Analysis by Application

─Saudi Arabia Foodservice Manufacturers Profiles/Analysis

─Foodservice Manufacturing Cost Analysis

─Industrial Chain, Sourcing Strategy and Downstream Buyers

─Marketing Strategy Analysis, Distributors/Traders

─Market Effect Factors Analysis

─Saudi Arabia Foodservice Market Forecast (2019-2024)

─Competitive Landscape

─Research Findings and Conclusion

Finally, this Foodservice report covers the market scenario and its development prospects over the coming years. Report likewise manages the type analysis, contrasting it with the significant application, recent Foodservice product development and gives an outline of the potential Saudi Arabia market.

Contact US:

Irfan Tamboli (Sales)

Phone: + 1704 266 3234

Mob: +91-750-707-8687

sales@marketinsightsreports.com

irfan@marketinsightsreports.com

MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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