Hyderabad, July 26, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Middle East Poultry Meat Market Report (2023-2028)," the market is estimated at USD 30.23 billion in 2023. It is expected to register a CAGR of 6.08% during the forecast period.
The middle eastern poultry meat market consists of organizations of various kinds investing in it. The constant rise in tourism rate is a major reason for the existence and sustenance of this market.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 30.23 billion |
| Market Size (2028) | USD 40.61 billion |
| CAGR (2023-2028) | 6.08% |
| Study Period | 2018-2028 |
| Largest Market | Saudi Arabia |
| Forecast Units | Value (USD billion) |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | Rise in global tourism rate. |
| A steady increase in the demand for packaged foods. |
Who are the Top Companies in the Middle East Poultry Meat Market?
The Middle East poultry meat market is highly fragmented, with the top five companies occupying around 7.73%.
The notable players in the Middle East poultry meat market are:
- Al Ain Farms
- Al Rawdah Farms
- Al-Watania Poultry
- Almarai Food Company
- ARASCO
- BRF SA
- JBS SA
- Tanmiah Food Company
- The Savola Group
Other Reports That Might Be of Your Interest:
- Europe Processed Meat Market Report - The European processed meat market is expected to register a CAGR of 3.20% during the forecast period (2023-2028).
- Asia-Pacific Processed Meat Market Report - The Asian-Pacific processed meat market is expected to register a CAGR of 11.19% during the forecast period (2023-2028).
Key Highlights from the Middle East Poultry Meat Market Report:
On-trade as the Most Prominent Distribution Channel
- The on-trade segment dominates the distribution channel for poultry meat, where two-thirds of poultry meat products are utilized in the country.
- Foodservice businesses like restaurants and hotels resorted to delivery platforms during the pandemic to recover from the loss of foot traffic in their outlets. Therefore, food delivery platforms witnessed massive growth in 2020.
Saudi Arabia Occupies the Major Market Share
- The poultry market grew significantly from 2018 to 2021 in the Middle East. The Middle East Poultry Expo is the region’s largest exhibition in the poultry industry. It is an ideal platform that enhances investment opportunities and attracts local investors and suppliers to develop the poultry industry to achieve further sufficiency.
- Spending on poultry is expected to increase further in Bahrain due to the region’s changing dietary expense habits. A growing population of ex-pats entered the country from Asian and Western countries, thereby shifting food choices toward more international tastes.
What are the Latest Developments in the Middle East Poultry Meat Market?
- In November 2022, Almarai Company announced its investment of SAR 4.5 billion in Al-Shamli Governorate, Hail Region, in its effort to increase poultry production.
- In July 2022, BRF Sadia unveiled its new plant in Dammam, Saudi Arabia, to increase its monthly production capacity to 1,200 tons of food. This was expected to fuel the growth of the local poultry industry to cater to Saudi consumers.
Mordor Intelligence has Segmented the Middle East Poultry Meat Market Based on Form, Distribution, and Geography:
- By Form (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Fresh / Chilled
- Frozen / Canned
- Processed
- By Distribution Channel (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Off-Trade
- Convenience Stores
- Online Channel
- Supermarkets And Hypermarkets
- Others
- On-Trade
- Off-Trade
- By Country (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Bahrain
- Kuwait
- Oman
- Qatar
- Saudi Arabia
- United Arab Emirates
- Rest Of Middle East
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Middle East Poultry Meat Market Report (2023-2028).
Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:
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- Saudi Arabia Poultry Market Report - The Saudi Arabian poultry market is expected to register a CAGR of 1.64% during the forecast period (2023-2028).
About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.
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