Report forecast the food retail market in Saudi
Arabia to grow at a CAGR of 4.9% during the period 2016-2020.
Saudi Arabia is a desert country and is known as
the birthplace of Islam. It is home to the religion’s two most sacred mosques,
Masjid al-Haram in Mecca and Masjid an-Nabawi in Medina, the burial site of
prophet Muhammad. It is the world's largest producer and exporter of petroleum
products. It has the world's second-largest oil reserves and sixth-largest gas
reserves. The country is categorized as a World Bank high-income economy with a
high Human Development Index.
The report covers the present scenario and the
growth prospects of the food retail market in Saudi Arabia for 2016-2020. To
calculate the market size, the report has taken into consideration the revenue
generated from the retail sales of food products in Saudi Arabia and has not
included revenue generated from on-trade sales. It also includes the market
size based on volume, which has been calculated based on the retail consumption
of food products.
The market is divided into the following
segments based on product categories:
- Cereals
- Dairy
- Fruits and vegetables
- Meat
- Other foods
According to the report, a key growth driver is the
increase in number of retail outlets. Food retailers are trying to increase
their store numbers so as to gain more market share and also access more
consumer segments. Panda supermarket chain plans to increase its number of
stores to 250 by 2020 from the current number of 240. Al Sadhan Supermarkets
plans to increase its number of stores by 18 in the next 10 years. Also,
Carrefour plans to increase its number of stores to 20 from 14 during the
forecast period.
Further, the report states that one challenge that
could restrict market growth is Nitaqat Law. One of the main challenges faced
by the market is the lack of experienced human personnel due to the Nitaqat law
implemented by the Saudi Arabian government. The Nitaqat law was implemented by
the government to replace foreign workers with Saudi nationals in the private
sector.
Food Retail Market in Saudi Arabia 2016-2020,
has been prepared based on an in-depth market analysis with inputs from
industry experts. The report covers the market landscape and its growth
prospects over the coming years. The report also includes a discussion of the
key vendors operating in this market.
key players in the food retail market in Saudi
Arabia: Carrefour, NESTO, Othaim Markets, Panda United, and Tamimi Markets.
Other Prominent Vendors in the market are: Al Raya
Supermarkets, Al Sadhan Supermarkets, Balsharaf Supermarkets, Bin Dawood
Supermarkets, Farm Supermarkets, Lulu Hypermarket, Manual Hypermarket, Marhaba
Supermarkets, Sarawat Supermarkets, and Star Hypermarkets.
Market driver
- Increase in number of retail outlets
- For a full, detailed list, view our report
Market challenge
- Nitaqat law
- For a full, detailed list, view our report
Market trend
- Increasing import of food products
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 65 pages and 43 Exhibit “Food
Retail Market in Saudi Arabia 2016 - 2020” report covers Executive summary, Scope
of the report, Market research methodology, Introduction, Market landscape, Market
segmentation by product, Market segmentation by distribution channel, Market
drivers, Impact of drivers, Market challenges, Impact of drivers and
challenges, Market trends, Vendor landscape, Appendix.
For
more information Visit at: http://mrr.cm/JXe
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