Dublin, Sept. 17, 2024 (GLOBE NEWSWIRE) -- The "Saudi Arabia Foodservice Disposable Packaging - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)" report has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia Foodservice Disposable Packaging Market exhibits robust growth, with forecasts projecting the market size to escalate from USD 1.83 billion in 2024 to USD 2.46 billion by 2029, at a CAGR of 6.13% during the period of 2024-2029. Key factors propelling this advancement include an increased demand for convenience foods, a surge in home deliveries, heightened environmental awareness, and sustainable packaging solutions. Furthermore, the flourishing coffee culture and emerging restaurant chains are creating a propelling demand for disposable packaging solutions.
The foodservice industry's growth is closely aligned with the evolving consumer lifestyle that prioritizes convenience. Ready-to-eat meals, a surge in food delivery services, and outdoor dining experiences are contributing significantly to the increased demand for disposable packaging. With innovations that cater to convenience and sustainability, there is an evident rise in the production of biodegradable packaging to align with environmental sensibilities.
Several international restaurant chains are undertaking strategic expansions within the Saudi market, contributing to the burgeoning demand for disposable containers and utensils. New restaurant openings and cloud kitchens are riding this wave of growth, with companies like Rebel Foods embarking on ambitious expansion plans that include increasing their internet restaurant presence significantly in the coming years.
Government regulations aimed at reducing plastic waste represent both a challenge and an opportunity within the disposable packaging sector. The shifting regulatory landscape necessitates investment in new technologies and processes to support sustainability initiatives, which presents an obstacle for market players yet also drives innovation toward more eco-friendly packaging solutions.
Segment Growth: Cups and Lids Dominate Market Share
The disposable cups and lids segment is expected to occupy a substantial market share due to the rising consumption of hot and cold beverages, underscored by the expansion of coffee culture in the country. Disposable cups, preferred for their convenience and cost-effectiveness, play a major role in quick-service restaurants and social gatherings. Paper cups, in particular, are gaining traction over plastic ones due to environmental concerns and hygiene considerations.
Significant Market Share Held by HoReCa
The Hotels, Restaurants, and Cafes (HoReCa) sector is seeing pronounced demand for foodservice disposable products. The increase in food outlets, the popularization of fast food, and the growth in food delivery services are pivotal in driving market growth. The necessity for timely and safe food delivery reinforces the reliance on disposable packaging within this sector. Additionally, the expanding tourism industry significantly influences the demand for disposable packaging solutions.
The Saudi foodservice disposable packaging market's potential remains vigorous, with industry players maneuvering strategic initiatives to stay competitive. A semi-consolidated landscape featuring players like Napco National Packaging, Hotpack Packaging Industries LLC, SAQR PACK, and Falcon Pack indicates a dynamic market where innovation and sustainability hold the keys to future growth and market dominance.
Companies Featured
- Napco National
- Hotpack Packaging Industries LLC
- SAQR Pack
- Falcon Pack
- Prestige Packing Industry
- Packaging Product Company (PPC)
- Smart Pack
- Saudi Modern Packaging Co. Ltd
- Noor Carton & Packaging Industry
- Saudi Foam Trays Mfg. Co.
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Attachments
- Saudiarabia Foodservice Disposable Packaging Market Annual Urban Population Growth In Saudi Arabia From 2019 To 202
- Saudiarabia Foodservice Disposable Packaging Market Industry Revenue Of Food Service Activities In Saudi Arabia Fro
- Saudiarabia Foodservice Disposable Packaging Market Forecasted Numb
