BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects Saudi Arabia Packaged Food Market size to expand at a steady CAGR of 7.1% during the forecast period between 2022 and 2028. The expansion of Saudi Arabia packaged food market is driven by rising technology advancements, such as the use of alternate packaging materials to maximize shelf-life and product appeal. Saudi Arabia packaged food market is expected to grow due to the widespread use of sustainable packaged food components, such as plant-based polymers, bamboo, and vegetable starch. A surge in demand for interactive packaging, which allows the product to be consumed without completely removing the box, is expected to help the market thrive. Concurrently, demand for dairy products and confectionery is increasing in the market. The modern packaging material, which consists of an aluminum layer with special treatment or packaged material embossed with black ink, protects milk and bread from UV radiation. The market growth is expected to be fueled by the increasing trend of active packaging, which absorbs moisture and generates gas to extend food shelf-life. Hence, all these factors are expected to propel Saudi Arabia’s packaged food market growth. However, the addition of preservatives causing side effects to human body, consumer perceptions of the negative effects of packaged goods, and substantial risk of food contamination due to packaging material are anticipated to limit the growth of Saudi Arabia packaged food market during the period in analysis.
Saudi Arabia Packaged Food Market – Overview
Packaged foods prepared in advance and packed to extend shelf life. Most of packaged food products are mass-produced and supplied for consumption. The concept of packaged food increased. They are becoming increasingly popular in both developed and developing countries due to their convenience for city dweller and working-class population. Packaged food is a product that customers commonly purchase. As a result, customer demand for such goods remains consistent. The millennials’ preference for healthy packaged food substitutes has created numerous opportunities for companies in the packaged food products market. Consumers want healthy food products that are high in nutritional content, low in cholesterol, have fewer preservatives, and are low in fat. As a result of the growing demand for healthy food, numerous beverage firms have begun producing organic and non-alcoholic juices to serve health-conscious clients. This growing trend is expected to drive the market expansion during the forecast period.
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Saudi Arabia Packaged Food Market – Product Type
Based on product type, Saudi Arabia packaged food market is segmented into Ready Meals, Baked Food, Breakfast Cereals, Soups, Baby Food, Potato Chips, Nuts, Instant Noodles, Pasta, Biscuits and Cookies, Confectionary Chocolates, Cheese, Yogurt, Milk, Ice Creams, Sauces, Dressings & Condiments, and Non-alcoholic Drinks. Among them, the breakfast cereals segment is expected to hold the highest share in the market, because of surging consumer demand for nutritious and convenient breakfast alternatives. In addition, the increased focus on breakfast meals among consumers and burgeoning demand for high nutritional food products, particularly among working female group, are creating growth potential for the breakfast cereal market to grow in the coming years.
Impact of COVID-19 on Saudi Arabia Packaged Food Market
COVID-19 pandemic had a detrimental impact on most of the industries, but the packaged food market witnessed an unanticipated surge, due to increased consumption of snacks and beverages, chips, chocolates, and frozen food products during lockdown, as well as work from home option. Consumer’s purchasing patterns changed as a result of the lockdowns, and they prefer processed food in bulk to stock up on kitchen supplies. Hence, businesses and manufacturing units were incentivized to hasten their production lines and sustain the packaged food supply and demand chain. Furthermore, pandemic had a detrimental impact on people’ health which resulted in surging demand of ready-to eat product and less time-consuming nutritious food product options for better immunity. As a result, customers’ preferences are shifting toward snacking healthier foods. This trend prompted corporations to develop healthy food products that are low in calories and fats but abundant in minerals and vitamins. Therefore, all these factors are expected to boost the expansion of Saudi Arabia packaged food market.
Saudi Arabia packaged food market is highly competitive. Prominent companies in the market include Al Safi Danone, Almarai, Al Kabeer Group, Nestle, National Food Industries Company, Saudia Dairy and Foodstuff Company, Kraft Foods Group, Americana Group, Savola Group Company, Arla Foods, Wafrah for Industry and Development Company, and Fesh Fash Snack Food Production Company. To further enhance their market share, these players are primarily focused on the development of innovative and efficient products, new product releases, mergers and acquisitions, collaborations, partnerships, and joint ventures.
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