Skyrocketing Demand for Fruits & Vegetables in Saudi Arabia
According to the report published by Research Cosmos, the Saudi Arabia Fruits and Vegetables Market has shown a modest growth. The Saudi Arabia vegetable market is anticipated to witness a CAGR of 4.7%, while the Saudi Arabia fruit market recorded a CAGR of 4.1% during the forecast period, 2018-2023.
Among the GCC countries, Saudi Arabia is the largest consumer of food products, accounting for around 60% of consumption in the region. The Saudi Arabian economy is experiencing huge growth in the Saudi Arabia Fruits and Vegetables Market due to rapidly growing population, changing consumption patterns as well as increasing number of tourist inflow in the country.
The report provides a detailed analysis of agriculture in Saudi Arabia, broadly segmented into fruits and vegetables. These are sub-segmented into onion, potato, tomato, garlic, cauliflower, beans, lemon, apple, banana, grapefruit, grapes, strawberry, watermelon, dates, and olives. The market size, production volume, consumption volume along with import & export value and volume, are also accounted for in the report. To examine the competitiveness in the industry, Porter’s five forces analysis is executed. A regional analysis has also been carried out, which includes PESTLE analysis, a supply chain analysis of the segments, and the government policies reflecting current regulations and the regulatory environment in the country.
In terms of export volume, onions exports are expected to grow from 141.0 metric ton in 2017 to 246.5 metric ton by 2023, registering a CAGR of 9.9% during the forecast period. However, in terms of import volumes, bananas witnessed the highest CAGR of 8%, followed by watermelon, recording a CAGR of 7.5%, during the forecast period.
Saudi Arabia Fruits and Vegetables Market Dynamics
Increasing shift toward healthy dietary plans, push towards water conservation, and using advanced irrigation technology for cultivation, strong retail chain networks, and considerable growth of supermarket and hypermarket chains are the fruit & vegetable market driving forces in Saudi Arabia. However, there are certain factors restraining the growth of the market which includes high market entry cost, severe weather conditions restraining production and price volatility of fruit & vegetable in the market.
The increasing presence of superstores and hypermarkets has increased the access to high-quality fruits and vegetables for the Saudi population. Panda Retail Company, Al Muhaidib Group, Watania, Saudi Grains and Fodder Holdings Co. LLC, and Savola are the key players in the Saudi fruits and vegetables market. Panda, a subsidiary of Savola Group is the leading grocery retail chain in Saudi Arabia, with more than 40 years in the market. Ahmed Mohamed Saleh Baeshen & Co, Ahmed Mohammed Basumbul, Ahmed Hasan Humaidi Trading Est, Abdulrasheed Badrah Corp., Abdulrahman & Mohammed A. Aziz Alshalan are the other market leaders in the country.
For More Information, Get Sample of the report: Request Sample
Got Some Questions? Inquire Here: Inquire Before Buying
Get This Report: Purchase Now
About Research Cosmos:
Research Cosmos is an aggregator of syndicated and bespoke market research, business intelligence and consulting services on a gamut of sectors across the globe. We’re associated with world-renowned publishers who when combined, serve hundreds of fortune listed companies and publish a wide range of insightful reports which cover nook and corner of every industry vertical.