Saudi Arabia Dairy Products Market Growth, Scope, Analysis, Demand, Opportunities and Future Outlook Till 2034: SPER Market Research
Dairy products are made from milk and include a wealth of important elements including calcium, protein, and vitamins, they are an essential component of human nutrition. These goods, which satisfy a variety of dietary requirements and culinary applications, include milk, cheese, yogurt, butter, cream, and ghee. To guarantee safety and improve flavor, they are usually prepared from the milk of cows, buffaloes, goats, or sheep and go through procedures including pasteurization, fermentation, and homogenization. Because of advancements like low-fat, lactose-free, and fortified products as well as the growing need for quick, wholesome meal options, the worldwide dairy business is still expanding. Dairy products are essential to many cuisines, promoting global economic growth, culinary traditions, and health.
According to SPER Market Research, ‘Saudi Arabia Dairy Products Market Size- By Category, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ states that the Saudi Arabia Dairy Products Market is estimated to reach USD 8.26 billion by 2033 with a CAGR of 4.01%.
The market leads the Middle East dairy market in terms of consumption because of things like the growing number of government-sponsored health and wellness initiatives aimed at preventing obesity and its associated conditions (diabetes, high blood pressure, heart disease, and high cholesterol), which encourage people to buy healthier products and in turn increase the nation’s dairy consumption. Consumers’ increasing disposable income, the speed at which cities are developing, and the growing demand for natural and organic dairy products are all contributing factors to the industry’s expansion. Furthermore, there is a trend toward a more Westernized diet as the population grows wealthier and more urbanized, which includes consuming more dairy products like cheese, yogurt, prebiotic beverages, and so on.
A significant barrier to the dairy business in Saudi Arabia is the country’s arid environment and scarce water supplies. Water is an essential resource for dairy cattle hydration as well as animal feed production. Even while technology and techniques have advanced significantly, it can still be difficult to maintain consistent quality and safety, which is essential for the Saudi dairy industry’s growth and export potential. There are many local and foreign companies fighting for consumers’ attention in the fiercely competitive Saudi dairy market. However, smaller local competitors and foreign gamblers pose a threat. Both market share and pricing are impacted by this fierce rivalry. One long-term issue facing the Saudi dairy industry is climate change.
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Customers are experimenting with new brands in the low-stock situation, which is a significant change brought about by COVID-19. Online demand for dairy goods was strong during the first wave of business and community closures, and as more customers switched from physical stores, e-commerce pricing and out-of-stock levels rose. Saudi Arabia blocked its borders or increased trade barriers during the shutdown, which caused supply chains, especially dairy snacks, to be interrupted. Dairy products like milk, butter, and cream are in higher demand now because of the heightened interest in baking and cooking at home during the lockdown. The industry was forced by the epidemic to invest in supply chain resilience, improve online retail channels, and give priority to local production.
The capital and largest city of Saudi Arabia, Riyadh is the primary consumer hub for the country’s dairy products market. Its sizable, wealthy, and health-conscious populace fuels demand for a wide range of dairy products. Some of the key players are – Almarai Company, Al-Othman Holding Company, and Arla Foods AmbA.
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Saudi Arabia Dairy Products Market Growth
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