Dublin, March 21, 2023 (GLOBE NEWSWIRE) -- The "Saudi Arabia Catering Services Market | Trends, Value, Revenue, Outlook, Forecast, Size, Analysis, Growth, Industry, Share, Segmentation & COVID-19 IMPACT: Market Forecast By Types, By End-Users, By Regions And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Saudi Arabia Catering Services Market size is projected to grow at a CAGR of 6.6% during 2022-2028.
Saudi Arabia Catering Services Market report comprehensively covers the market by types, end-users and regions. Saudi Arabia Catering Services Market report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas, market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Saudi Arabia Catering Services Market Synopsis
Saudi Arabia Catering Services Market grew significantly in the period of 2018-2021 on account of shift of government expenditure to non-oil sectors from oil sectors, rising number of inflight passengers, rise in construction, tourism, healthcare and education industry in 2018.
During 2020, Covid-19 significantly impacted the overall Saudi Arabia Catering Services Market growth as the country faced nationwide lockdown that led to shutting down of all activities and movement in country and impacted the supply chain in market which has resulted in the decline in catering industry by 9% in 2020. Most of the industrial and manufacturing hubs, hotels, construction and infrastructure projects where catering services are heavily used were closed which impacted the market demand during that year.
The market is expected to witness significant growth in the coming years owing to rising spending expenditure of government on non-oil sectors. The government is developing smart cities such as NEOM city, Red Sea project, entertainment cities such as Qiddiya city, Amaala project.
Also, the government of Saudi Arabia has set a target to touch the 330 million passengers travelling by 2030, which would demand new airline and airports across the country. Government initiative of developing 250 airline routes by 2030 and $100 Million investment to develop new airline company by 2025 would robust the demand in catering services in upcoming years.
Additionally, government initiative to cater more than 6 million hajj pilgrims under pilgrimage experience program 2030 would lead to rise in catering industry as government every year hires catering contractors to cater hajj pilgrims.
Market by End Users
Hospitality acquired major revenue share in Saudi Arabia Catering Services Market as they are biggest consumer of catering industry on account of rising number of business and cultural events, rising hotel supply, higher occupancy rates in top 5 cities such as Riyadh, Al- Khobar and hajj and umrah religious pilgrims. Hospitality sector would become the fastest growing segment in upcoming years owing to rise in hostel supply, number of pilgrims and tourist of entertainment cities in the country.
Market by Regions
Central region would grow at a rate of 7.4% during forecasted years.
Central region including Riyadh and north border would be the focal point in Saudi Arabia Catering Services Market owing to growing constructions, airline, healthcare and industrial sector.
Rapid development of infrastructure, including upcoming smart city projects, malls and an overall increase in tourism opportunities in nearby cities of Riyadh would lead to the growth in use of catering during the forecast period.
Key Highlights of the Report
- Saudi Arabia Catering Services Market Overview
- Saudi Arabia Catering Services Market Outlook
- Saudi Arabia Catering Services Market Forecast
- Historical Data and Forecast of Saudi Arabia Catering Services Market Revenues for the Period 2018-2028F
- Historical Data and Forecast of Saudi Arabia Catering Services Market Revenues, By Types, for the Period 2018-2028F
- Historical Data and Forecast of Saudi Arabia Catering Services Market Revenues, By End Users, for the Period 2018-2028F
- Historical Data and Forecast of Saudi Arabia Catering Services Market Revenues, By Regions, for the Period 2018-2028F
- Market Drivers and Restraints
- Industry Life Cycle
- Porter's Five Force Analysis
- Impact Analysis of COVID-19
- Saudi Arabia Catering Services Market Trends
- Saudi Arabia Catering Services Market Revenue Share, By Companies
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Company Profiles
- Nesma United Industries
- Saudi Airlines Catering Company
- Algosaibi Services Co. Ltd.
- Gulf Catering Company
- Tamimi Global
- Gulf Mahmal Support Services Company
- Zamil Operations and Maintenance
- Al-Karam Al-Arabi for Catering Services Limited
- Unique Catering Services
- AYTB
Market Scope and Segmentation
By Types
- Contractual
- Non-Contractual
By End Users
- Industrial
- Hospitality
- In-flight
- Healthcare
- Educational
- Others (Military, Railways, Events)
By Regions
- Eastern
- Central (Riyadh & North border)
- Western
- Southern
For more information about this report visit https://www.researchandmarkets.com/r/hpi5yk
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