Confectionery & Snacks - Saudi Arabia

Saudi Arabia

Revenue in the Confectionery & Snacks market amounts to €5.66bn in 2024. The market is expected to grow annually by 3.34% (CAGR 2024-2029).
In global comparison, most revenue is generated in the United States (€124bn in 2024).
In relation to total population figures, per person revenues of €151.00 are generated in 2024.
In the Confectionery & Snacks market, volume is expected to amount to 906.30m kg by 2029. The Confectionery & Snacks market is expected to show a volume growth of 1.6% in 2025.
The average volume per person in the Confectionery & Snacks market is expected to amount to 22.8kg in 2024.

Key regions: Philippines, South Korea, Canada, Japan, China

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Región

Comparación de regiones

Moneda

Analyst Opinion

The confectionery and snack food market in Saudi Arabia is experiencing negligible growth, influenced by factors such as increasing consumer health awareness, convenience of online services, and technological advancements. This market is driven by the sub-markets of confectionery and snack food, which contribute to the overall growth rate. Other factors impacting the slow growth rate include changing consumer preferences and economic conditions.

Customer preferences: As consumers in Saudi Arabia become more health-conscious, there has been a notable shift towards healthier and more nutritious snack options. This trend is driven by cultural influences, as well as the growing awareness of the importance of a balanced diet and lifestyle. Additionally, the demand for organic and natural snacks has also increased, reflecting the preference for clean and sustainable food products.

Trends in the market: In Saudi Arabia, the Confectionery & Snacks Market within The Food market is seeing a rise in demand for healthier and more natural options. This trend is driven by increasing health consciousness among consumers and the government's efforts to promote healthy eating. As a result, there is a growing market for gluten-free, organic, and low-sugar snacks. This trend is expected to continue, as consumers prioritize health and wellness in their snacking choices. Industry stakeholders need to adapt to this trend by offering healthier options and incorporating more natural ingredients in their products. Additionally, there is a rising demand for innovative and exotic flavors, to cater to the diverse tastes of the population. This presents opportunities for industry players to differentiate their products and stay competitive in the market.

Local special circumstances: In Saudi Arabia, the Confectionery & Snacks Market within The Food market is heavily influenced by the country's cultural and religious norms. As a predominantly Muslim country, there is a high demand for halal-certified products in this market segment. Additionally, the hot climate and desert environment have led to a preference for snacks that can withstand high temperatures, such as dried fruits and nuts. The country's strict regulations on imported goods also play a significant role in shaping the market, with limited availability of international brands compared to other markets.

Underlying macroeconomic factors: The Confectionery & Snacks Market in Saudi Arabia is heavily influenced by macroeconomic factors such as consumer spending power, population growth, and government policies. Due to the country's strong economy and high disposable income, there is a growing demand for indulgent and convenient snack options. Furthermore, favorable government initiatives to promote domestic food production and reduce import dependency have created a favorable business environment for the market. Additionally, the rising health consciousness among consumers has led to a shift towards healthier snacking options, creating opportunities for companies to innovate and expand their product offerings. Overall, the Confectionery & Snacks Market in Saudi Arabia is expected to experience steady growth due to the country's stable economic conditions and supportive government policies.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.