Increase in the working population and the impact of social media platforms is expected to drive the demand for Saudi Arabia Processed Food market in the forecast period.
Consumers are preferring food products and beverages which are having low cholesterol and fat, fewer preservatives, and has high nutritional value. Market players are launching products that are suitable for health-conscious people and it is fostering the demand for Saudi Arabia in the next five years. The rise in demand for organic food and lactose, and gluten-free food is contributing significantly to the processed food market growth. The surge in the demand for online channels is boosting the growth of the processed food market as it offers a wide range of choices over a single platform.
With the use of advanced technology such as blockchain, artificial intelligence, big data analytics the developers can create an interactive platform for consumers and provide hassle-free payment gateways for online transactions. Market players also offer lucrative discounts to attract consumers to purchase from their online site and application. The growing online processed food market is expected to contribute to the market growth in the next five years.
The COVID-19 outbreak across the world which has been declared as a pandemic by World Health Organization has affected countries adversely. Leading authorities of Saudi Arabia imposed lockdown restrictions and released a set of precautionary measures to contain the spread of novel coronavirus. Coronavirus-affected patients started suffering from shortness of breath along with coughing and sneezing. Manufacturing units were temporarily shut down, and the shortage of workforce was observed as the majority of workers moved back to their native places. The disruption in the supply chain and the restriction over the import and export activities are affecting the processed food market adversely.
However, the rise in health awareness and the risk of food contamination may hamper the Processed Food market growth in the forecast period.
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Saudi Arabia Processed Food market is segmented into product, distribution channel, regional distribution, and company. Based on distribution channel, the market can be divided into traditional trade, institutional sales, supermarkets/hypermarkets, online, and others. The traditional trade segment is expected to witness significant a share in the forecast period, 2022-2026. Growing affordability of the consumers and easy access to the traditional stores are the driving factor for the growth of this segment. The rise in availability of diverse products and the increased customer satisfaction is fueling the growth of the segment.
SAVOLA Group, Wafrah for Industry & Development, Food & Fine Pastries Al Sunbulah Manufacturing Co, Al Babtain Biscuit Manufacturing & Foodstuff CO. LTD., NADA Dairy, Mars Inc., Middle East for Food Solutions Co, Del Monte Arabia, Al Safi Danone Ltd, Danya Food Limited Saudi Arabia are the leading players operating in Saudi Arabia Processed Food market. Manufacturers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several Processed Food manufacturers are coming up with their technologically advanced offerings.
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“Market players are investing huge amounts to invent innovative packaging materials for providing maximum protection to the food items and prevent the food from getting contaminated by temperature, microorganisms, humidity, or other harmful substances. The growing demand for good packaging material that ensures the freshness of food items and could withstand the effect of external factors are expected to contribute to the processed food market growth. Also, the formation of an efficient supply chain to ensure smooth transportation of raw materials and end products is expected to propel the processed food market growth till 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a global research-based management consulting firm.
“Saudi Arabia Processed Food Market By Product (Processed Meat and Seafood, Breakfast Cereals, Processed Fruit & Veggies, Ready Meals, Snacks & Beverages, Others) By Distribution Channel (Traditional Trade, Institutional Sales, Supermarkets/Hypermarkets, Online, Others), Company Forecast & Opportunities, 2026” has evaluated the future growth potential of Saudi Arabia Processed Food market and provided statistics & information on market size, shares, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the of Saudi Arabia Processed Food market.
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