The Saudi Arabia Frozen Food Market is expected to grow at a faster CAGR over the forecast period (2020-2027).
The factors driving growth of the Saudi Arabia Frozen Food Market includes growing demand for ready to eat food products, rising awareness about the benefits of frozen food items, increasing number of grocery stores and improvements in the living standards. For instance, the revenue generated from the sales of ready-to-eat products is expected to reach USD 3 billion by the end of 2022, growing at a CAGR of 3.72%, over the forecast period (2022-2027), which will accelerate the Saudi Arabia Frozen Food Market size in the approaching years. Moreover, growing adoption of advanced technologies by manufacturers, increasing availability of frozen food products at online stores, expansion of the residential and hospitality sectors and infrastructural projects such as Neom Business City and Four-Season Jeddah Croniche, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic alliances between enterprises, rising population growth rates and growing population growth rates, are further contributing towards the market growth.
However, growth of the Saudi Arabia Frozen Food Market is hindered due to increasing demand for fresh and natural food products.
The leading players operating in the market are Halwani Bros, Tanmiah Food Group, Al Karamah Dough, General Mills Inc., The Savola Group, Nestle S.A., McCain Foods Limited, Sunbulah Group, Americana Group, Inc., and The Unilever Group among other.
Based on Product, the Convenience Food & Ready Meals segment is predicted to expand at a significant CAGR during the forecast period
Growing demand for food items which requires less time, changing lifestyle patterns and increasing per capita incomes, are some of the factors pushing growth of the segment.
Based on Type, the Ready-to-Eat segment is projected to grow at a robust CAGR over the forecast period
Increasing availability of wide range of readymade products such as meats, cheese, prepared sandwiches, cereals, chips, crackers, and salads bread and growing population growth rates, are propelling the segment’s growth.
Based on Distribution Channel, the Online segment is anticipated to expand at a remarkable CAGR during the forecast period
Online stores offer wide range of frozen food products, offers attractive discounts, provides the option of free home delivery and are open 24*7, are some of the important factors augmenting growth of the segment.
Key Developments
- In 2019, US food manufacturer General Mills partnered with Ahmad A. Abed Trading Co., one of the leading producers of bread and pastries in Saudi Arabia to launch Pillsbury foodservice products and bakery goods, a company that offers a full range of frozen dough, flour, and healthy mixes in the market.
- The Savola Group, one of the leading food and retail investment group in the MENAT (Middle East, North Africa, and Turkey) region, acquired almost 51 percent stake in Al Kabeer Group, a Dubai-based frozen food company with operations in Saudi Arabia, the UAE, Bahrain, and Oman. This acquisition is aimed to expand the product portfolio of The Savola Group in the frozen food business segment.
Market Segmentation
Segmentation by Product
- Fruits & Vegetables
- Frozen Fruits
- Frozen Vegetables
- Frozen Potatoes
- Other Vegetables
- Dairy Products
- Bakery Products
- Bread & Pizza Crusts
- Others Bakery Products
- Meat & Sea Foods
- Convenience Food & Ready Meals
- Others
Segmentation by Type
- Raw Material
- Half Cooked
- Ready-to-Eat
Segmentation by Consumption
- Food Service
- Retail
Segmentation by Distribution Channel
- Offline
- Online
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