BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Saudi Arabia Meat Snacks Market size at USD 219.84 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Saudi Arabia Meat Snacks Market size to expand at a CAGR of 7% reaching a value of USD 350.38 million by 2030. Rapid urbanization and a growing labor force are two significant growth drivers for Saudi Arabia Meat Snacks Market. The need for convenient, high-nutrient snack choices is rising significantly as a result of consumers' shifting lifestyles. Furthermore, the growing demand for meat snacks in Saudi Arabia is expected to be driven by the growing acceptance of online grocery shops and the expanding availability of these products.
Opportunity - Increasing Number of Supermarkets & Hypermarkets
Meat snacks in Saudi Arabia are sold through a variety of distribution channels, such as supermarkets & hypermarkets, convenience stores, grocery stores, restaurants, online retail, and others. The supermarkets & hypermarkets segment dominates Saudi Arabia Meat Snacks Market. The availability of a wide range of products under one roof that caters to the demands of varying consumer preferences acts as a major driving factor for the growth of the supermarkets and hypermarkets segment. Supermarkets and hypermarkets offer diverse products, such as both frozen and refrigerated meat snacks, which fulfill consumer demand for quick meal solutions.
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Impact of Escalating Geopolitical Tensions on Saudi Arabia Meat Snacks Market
The escalating geopolitical tensions negatively impact the growth of Saudi Arabia Meat Snacks Market. Blockages in the supply chain caused by geopolitical disputes have an immediate impact on the trade of meat between nations. It is anticipated that the volatile circumstances around the Red Sea would cause disruptions to the global poultry trade, perhaps leading to an increase in costs and a delay in supplies. These interruptions limited the expansion of the meat snack business in Saudi Arabia by impeding both domestic and foreign manufacturing and supply.
Peppered Meat Snacks Hold Major Market Share in Saudi Arabia
Peppered meat snacks have a strong market demand among consumers, especially those who engage in outdoor activities and road trips owing to their texture and flavor. The increasing demand for savory flavored but protein-rich nutritious snacks is a major driving factor for the growth of Saudi Arabia Meat Snacks Market. In addition, the busy lifestyle of consumers and increasing demand for convenient snacking options are expected to propel the demand for peppered meat snacks during the period in analysis.
Competitive Landscape
Saudi Arabia Meat Snacks market is intensely competitive, as a number of companies are competing to gain a significant market share. Key players in the market include Saudi Snack Foods Co Ltd (PepsiCo), Al-Watania Poultry, Halwani Bros Co., Sunbulah Group, Almunajem, Al Kabeer Group, Almarai Company, NADEC (National Agricultural Development Company), Tanmiah Food Group, and Saudi Meat Company (Seara).
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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BlueWeave Consulting & Research Pvt. Ltd
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Contact Us:
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662