Dublin, Jan. 27, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia Meat Market, By Region, Competition, Forecast and Opportunities, 2020-2030F" report has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia Meat Market has witnessed steady growth and is slated to expand further, reaching an anticipated valuation of USD 18.34 Billion by 2030. A compound annual growth rate (CAGR) of 5.83% from 2024 signifies robust development within the industry. Key market drivers include the burgeoning population, ongoing urbanization, and changing dietary preferences across the region.
Poultry continues to be the staple in the meat category, with escalating demands for processed and ready-to-cook meat products. Healthier eating habits and a rise in premium meat selections such as organic and antibiotic-free offerings are shaping consumer demands. Yet, despite heightened local production rates, the market is still largely supported by meat imports, particularly beef and mutton.
Economic and Lifestyle Impacts
Saudi Arabia's evolving economy alongside Vision 2030 plays a critical role in the growth of the meat market. The diversification of the economy is leading to a surge in employment opportunities, consequently increasing disposable incomes. This economic uplift is enabling consumers to indulge in premium meat products.
Furthermore, lifestyle changes attributed to urbanization are fostering a market for convenient, processed, and packaged meats—a result of the surge in preference for quick and accessible meal options among city dwellers. Moreover, health consciousness is driving demand for premium meat products, catering to a populace increasingly aware of the benefits of high-quality meats and sustainable production practices.
Market Challenges and Trends
Despite the market's positive trajectory, challenges persist, predominantly due to the reliance on imports for meat supply. Fluctuating international prices and potential supply chain disruptions pose risks that can influence product availability and prices.
Economically, rising meat prices present accessibility issues for lower-income demographics. This can hinder food security efforts and affect equitable access to nutritional food. The market also contends with a shift toward poultry and processed meat products, as health trends influence consumer preferences for white meat and ready-to-eat options.
Regional Market Insights
Diving into regional dynamics, the Northern and Central regions of Saudi Arabia, especially Riyadh and Jeddah, hold a prominent share of the meat market. These regions benefit from affluent populations and a strong retail presence, thereby serving as vital nodes in meat distribution across the nation.
The report also highlights key players within the Saudi meat market landscape, pointing out their strategic roles in shaping market trends and meeting consumer demands.
As the Saudi Arabia Meat Market continues to evolve, it remains an integral component of the nation's economic growth and consumer lifestyle patterns. The industry's progress is a testament to the multifaceted drivers shaping consumption trends in the region, from economic advancements to health and lifestyle considerations.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 81 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $13.1 Billion |
| Forecasted Market Value (USD) by 2030 | $18.34 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Saudi Arabia |
Companies Featured
- Al-Watania Poultry
- Sunbulah Group
- Almarai Food Company
- Halwani Bros Company
- Almunajem Foods Company
- Tanmiah Food Company
- Savola Group
- Golden Chicken Co.
- Nashar Trading Company
- Herfy Food Services Company
For more information about this report visit https://www.researchandmarkets.com/r/4xr89j
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