BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia food and beverage warehousing market size at USD 6.3 billion in 2022. During the forecast period between 2023 and 2029, the Saudi Arabia food and beverage warehousing market size is projected to grow at an impressive CAGR of 16.52% reaching a value of USD 18.23 billion by 2029. The food and beverages industry is one of the country’s most important retail consumption industries, with demand for food and beverages growing by the day. With everyone’s busy work schedules nowadays, including both the husband and wife, the reliance on frozen food has grown rapidly. As a result, the demand for frozen food logistics has increased. Warehouses are also in high demand across the country for storing large amounts of inventory. Rising demand for a wide range of cold chain warehouses capable of storing perishable food items for extended periods.
Saudi Arabia Food and Beverage Warehousing Market – Overview
Food and beverage warehousing is a business activity that comprises keeping finished goods in storage until they are prepared for delivery to stores or eateries. Storage of food and drinks is crucial since it enables businesses to maintain a consistent stock of supplies, ensuring their ability to remain running.
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Saudi Arabia Food and Beverage Warehousing Market – By Application
Saudi Arabia food and beverage warehousing market based on application is segmented into Processing Plant and Retailers. In the Saudi Arabia Warehousing market, it was estimated that retailers will gain a majority of share in 2022. The Saudi Arabia retail industry has benefited from the FMCG sector’s robust output, which has also increased demand for warehouse space nationwide.
Impact of COVID-19 on Saudi Arabia Food and Beverage Warehousing Market
The COVID-19 pandemic’s adverse effect on the global food supply chain limited the growth of Saudi Arabia food and beverage market. The pandemic had a profound impact on the food supply system. Many countries around the world claim that there is a severe shortage of various raw materials and vegetables at the retail level. The manufacturing and transportation of food and other items are impacted by supply chain problems, which are predicted to hurt the consumer services sector.
Competitive Landscape
Saudi Arabia food and beverage warehousing market is fiercely competitive. Prominent players in the market include Coldstar, Bring Frigoscandia, AGRO Merchants Group, Fresh Logic P, Dev Bhumi Cold Chain, C & M Cold Stores Ltd., and ColdEX. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in the Saudi Arabia food and beverage warehousing market.
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