Dublin, May 16, 2025 (GLOBE NEWSWIRE) -- The "Saudi Arabia Food Services Market, By Region, Competition, Forecast & Opportunities, 2020-2030F" has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia Food Services Market is forecasted to grow significantly, from USD 31.45 billion in 2024 to USD 59.87 billion by 2030, reflecting a CAGR of 9.04%
This market expansion is driven by urbanization, a growing youth population, and rising disposable incomes leading to increased demand for convenient dining options and food delivery services. The Vision 2030 initiative further propels growth, enhancing investments in tourism and hospitality.
An influx of international restaurant chains and local startups presenting diverse cuisines is aligning with consumers' evolving preferences, including a penchant for healthier and premium dining options. The online food delivery sector and quick-service restaurants (QSRs) are rapidly accelerating market growth.
Key Market Drivers
Expansion of Fast-Food Chains Across the Region
Fast-food chains are leveraging rapid urbanization and a burgeoning young population in Saudi Arabia. For instance, Herfy Food Services, a leading Saudi fast-food chain, has expanded into Africa with outlets in Nigeria, operated by Eatrite Food Services West Africa. Eatrite plans to open 50 Herfy outlets in Nigeria over the next decade. International brands like McDonald's, KFC, and Domino's are also increasing their footprint, appealing to both local and expatriate consumers.
The proliferation of fast-food chains is spurred by the rising trend of eating out and increased popularity of delivery services. Their strategic placement in high-traffic areas and adoption of digital ordering platforms elevate their market reach and align with Saudi Vision 2030's focus on the foodservice industry.
Key Market Challenges
Supply Chain Complexities
Supply chain complexities pose a notable challenge, with a reliance on both local and international suppliers leading to vulnerabilities in cost and availability. Global price fluctuations, geopolitical tensions, and logistical disruptions can disrupt supply consistency and quality. The geographical diversity of Saudi Arabia complicates logistics, especially in rural and remote areas.
To mitigate these challenges, businesses are enhancing supply chain management, local sourcing, and logistics partnerships. Despite these efforts, supply chain optimization remains crucial for sustaining market stability.
Key Market Trends
Rising Popularity of Online Payment
The popularity of online payment methods is reshaping the Saudi Arabia food services market. The Saudi Central Bank reports digital payments accounted for 70% of all retail transactions, fueled by mobile wallets like Apple Pay and STC Pay. The convenience and security of digital payments are particularly favored in the food delivery segment.
Adopting online payment solutions is essential for foodservice businesses aiming to stay competitive, as it enhances operational efficiency and customer experience, while providing valuable consumer insights for tailored marketing and inventory strategies.
Key Market Players
- Olayan Saudi Holding Company
- Alamar Foods Company
- McDonald's
- Herfy Food Services Company
- Shawaya House Company
- Tanmiah Food Company
- Starbucks Coffee Company
- Americana Restaurants International Plc
- Deli & Meal LLC
- D.ream international
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Voice of Customers
5. Saudi Arabia Food Services Market Outlook
5.1. Market Size & Forecast
5.2. Market Share & Forecast
5.3. Saudi Arabia Food Services Market Mapping & Opportunity Assessment
6. Saudi Arabia Domestic Food Services Market Outlook
6.1. Market Size & Forecast
6.2. Market Share & Forecast
7. Saudi Arabia International Food Services Market Outlook
7.1. Market Size & Forecast
7.2. Market Share & Forecast
8. Market Dynamics
9. SWOT Analysis
10. Market Trends & Developments
11. Saudi Arabia Economic Profile
12. Policy & Regulatory Landscape
13. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/eo9v1v
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