Saudi Arabia Ready Meals Market is estimated to grow at 6.7% CAGR during 2019-2026 | Size, Growth & Forecast

Saudi Arabia Ready Meals Market is expected to grow at a CAGR of 6.7%, during the forecast period (2019-2026).

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The factors driving growth of the Saudi Arabia Ready Meals Market includes increasing consumers inclination towards adopting healthy lifestyles, rise in the volumes of food ordered through online platforms, growing demand for international food and foreign cuisines and improvements in the living standards. For instance, the revenue generated by online food delivery across Saudi Arabia is expected to reach USD 7.90 billion by the end of 2022, growing at a CAGR of 12.50% over the forecast period (2022-2027), which is expected to accelerate the Saudi Arabia Ready Meals Market Growth in the approaching years. Moreover, rising influence of western culture across Saudi Arabia, growing popularity of frozen or chilled food items, increasing adoption of advanced technologies by manufacturers and rapid urbanization, are some of the additional factors supplementing the Saudi Arabia Ready Meals Market size. In addition, the increasing investments by major companies on research, strategic mergers, and collaborations between enterprises, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.

However, growth of the Saudi Arabia Ready Meals Market is hindered attributed to increasing prevalence of obesity amongst children.

The major players operating in the Saudi Arabia Ready Meals Market are Al Karamah Dough Production Co. Ltd, McCain Foods Limited, Kraft Heinz Company, The Savola Group, Sunbulah Group, Americana Group, Conagra Brands, Inc., Nestle S.A., Halwani Brothers Co., Ltd., and Supreme Foods Processing Company, among others.

Based on Category, the Frozen Ready Meals segment is predicted to dominate the market over the forecast period

Frozen ready meals are easy to cook, retains essential vitamins, minerals, and carbohydrate, are pushing growth of the segment.

Based on Product, the Burger segment is projected to capture the largest market share during the forecast period

Growing influence of western cuisines across Saudi Arabia, increasing per capita incomes and hectic lifestyles, are propelling growth of the segment.

Based on Distribution Channel, the Retail and Supermarket segment is anticipated to dominate the market over the forecast period

Supermarkets and offer wide range of ready meal products at attractive discounts, and provides multiple payment options to customers, are augmenting growth of the segment.

Key Development

In 2018, the Savola group, acquired 51% stake of Al Kabeer Group, through this acquisition, company plans to expand portfolio in the food sector.

Market Segmentation

Segmentation by Category

Canned Ready Meals
Frozen Ready Meals
Dried Ready Meals
Others

Segmentation by Product

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

Segmentation by Distribution Channel

Retail and Supermarket
Online

Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

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This release was published on openPR.