Saudi Arabia Bouillon and Stock Cubes Market to be Driven by the Increased Health Consciousness Among the Consumers in the Forecast Period of 2021-2026
Sheridan, United States - July 20, 2021 /MarketersMedia/ —
The new report by Expert Market Research titled, 'Saudi Arabia Bouillon and Stock Cubes Market Report and Forecast 2021-2026' gives an in-depth analysis of the Saudi Arabia bouillon and stock cubes market, assessing the market based on its segments like types and distribution channel. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
• Historical Market Size (2020): USD 97.7 million
• Forecast CAGR (2021-2026): 4.4%
• Forecast Market Size (2026): USD 127 million
The bouillon and stock cubes market in Saudi Arabia is driven by the increased health consciousness among millennials and the gen z population. Due to the prevalence of health issues such as obesity and diabetes, consumers are increasingly investing in healthy and convenient sustenance options such as processed meat in soups, which is increasing the demand for fish and poultry bouillon and stock cubes worldwide. Moreover, a growing working population with a higher disposable income has significantly enhanced the demand for casual fast food that is also nutritious. In addition, other factors such as increased accessibility through supermarkets and ease of usage are expected to further propel the market growth in the forecast period.
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Industry Definition and Major Segments
Bouillon and stock cubes refer to dehydrated stock or broth formed into a small cube. It usually contains vegetable stock or broth, dried meat, and various seasonings. It is popularly used to add flavours and seasonings in soups and stews and comes in ready-to-use packaging. These are also easy to store and cost-effective.
The Saudi Arabia bouillon and stock cubes market, on the basis of type, can be segmented into:
• Vegetable
• Fish
• Meat
• Poultry
• Beef
• Others
Based on distribution channel, the industry can be segregated into:
• Supermarket and Hypermarket
• Convenience Store
• Online
• Others
Market Trends
The insurgence of the Covid-19 pandemic has brought a heightened sensibility towards health and fitness worldwide. As a result, consumers are becoming highly conscious of their food intake and are steadily including nutritional elements in their eating behaviour. Moreover, a growing preference for home-cooked meals is observable, as dining out was no longer feasible amid the COVID-19 induced lockdowns. In this regard, consumers are increasingly using bouillon and stock cubes in their meals to enhance the flavours. In addition, the growing trend of veganism is expected to enhance the demand for vegetable-based bouillon and stock cubes in the region. These factors are expected to positively catalyse the market growth in the forecast period.
Key Market Players
The major players in the market are Nestle S.A., Unilever plc, Ajinomoto Co. Inc., Riyadh Food Pvt. Ltd., and Al alali, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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