Mordor IntelligenceThe Saudi Arabian foodservice market is a fragmented and competitive market with numerous players existing in the market. Key players in the market include Mc Donald’s Corporation, Yum! Brands Inc., Herfy Food Services Co., Albaik Food Systems Co. SA, and Domino's Pizza Inc., among others.Saudi Arabian Foodservice Market Overview
The Saudi Arabian Foodservice market was valued at USD 27.8 Billion in 2021 and is projected to grow at a CAGR of 7.71% during the forecast period, 2022-2027. The full-service restaurant segment accounted for the major share in the market, owing to the strong presence of the millennial population, the growing tourism industry, and acceptance of western culture across the country. Consequently, the United States casual dining restaurants, such as Chili’s, Fuddruckers, TGI Fridays, Applebee’s, Sizzler, and On The Border, are very popular and located in all the major cities of Saudi Arabia. Consumers visit food service outlets for a number of reasons, including added convenience, to sample new tastes and flavors, to celebrate, and to socialize. For instance, in May 2021, CEC Entertainment, the parent company of American fast-food brand Chuck E Cheese planned to open 100 new outlets around the world over the years, with at least 25 in Saudi Arabia. Hence, the industry gained momentum, and the market studied witnessed strong growth in all foodservice categories.
Download a free sample here – Saudi Arabian Foodservice Market
Key Highlights of the Saudi Arabian Foodservice Market
- The Saudi Arabian foodservice market is a fragmented and competitive market with numerous players existing in the market. Key players in the market include Mc Donald’s Corporation, Yum! Brands Inc., Herfy Food Services Co., Albaik Food Systems Co. SA, and Domino's Pizza Inc., among others.
- With limited options available for entertainment, the culture of eating at restaurants/food trucks gained higher preference in the country. This augmented the demand for global cuisines, thus boosting the number of foodservice outlets.
- Independent foodservice channels maintain a dominant position in the full-service restaurant segment, as they provide dine-in restaurant services with an extensive menu.
- During Ramadan, to attract consumers, full-service restaurants, including Hyatt Regency Tent and The Ritz-Carlton Residences, are trying to compete with local restaurants to provide a better culinary experience, which is driving the market further.
Check our other latest research on –
- United Arab Emirates Foodservice Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
- Middle East and Africa Baby Food Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
Recent Developments in the Saudi Arabian Foodservice Market
- In December 2021, Riyadh international Catering Service, the franchisee of McDonald's restaurants in the central, eastern, and northern regions of the Kingdom, opened its 200th branch on Riyadh Boulevard.
- In November 2021, Dominos launched a new side item, Domino’s Oven-Baked Dips, in three unique flavors: Cheesy Marinara, Five Cheese, and Baked Apple to pair with Domino’s Bread Twists.
Related Research and Links
- Singapore Ready to Eat Food Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
- United Arab Emirates Frozen Food Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)
List of Key Players in the Saudi Arabian Foodservice Market
- McDonald's Corporation
- Domino's Pizza Inc.
- Yum! Brands Inc.
- Restaurant Brands International Inc.
- Starbucks Corporation
- Herfy Food Services Co. (Savola Group)
- Albaik Food Systems Company SA
- Al Tazaj
- Americana Group Inc.
- Shawaya House
*List Not Exhaustive
Mordor Intelligence has segmented the Saudi Arabian Foodservice Market based on type and structure:
- Type (Market Size & Forecast based on Value (USD billion), 2016-2027)
- Full-Service Restaurants
- Quick Service Restaurants
- Cafes
- Catering or Institutional Food Sector
- Structure (Market Size & Forecast based on Value (USD billion), 2016-2027)
- Independent Consumer Foodservice
- Chained Consumer Foodservice
About Mordor Intelligence
Mordor Intelligence is a market intelligence and advisory firm. Our mission is to map complex business ecosystems across the globe to better predict butterfly effects. To date, we have partnered with 4000+ enterprises across 20 industries, to deliver precise data and actionable insights in over 6000 projects. Our domain-specific teams of research experts continuously track markets, enabling our clients to gain a competitive edge through high-quality market intelligence.
We offer fully tailored intelligence solutions to meet the unique business requirements of any organization. Our deep industry expertise coupled with cross-functional analyst teams ensures we can support the intelligence requirements of even the most specific of business problems.
Media Contact
Company Name: Mordor Intelligence Private Limited
Contact Person: Sai Teja
Email: Send Email
Phone: +1 617-765-2493
Address:5th Floor, Rajapushpa Summit, Nanakramguda Rd, Financial District, Gachibowli
City: Hyderabad
State: Telangana 500008
Country: India
Website: https://www.mordorintelligence.com/industry-reports/saudi-arabia-foodservice-market?utm_medium=Outbound&utm_source=press-release&utm_campaign=AB_Newswire
