Market Insights Consumer Food Dairy Products & Eggs

Milk Substitutes - Saudi Arabia

Saudi Arabia

Revenue in the Milk Substitutes market amounts to €59.98m in 2024. The market is expected to grow annually by 9.62% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€9,117m in 2024).
In relation to total population figures, per person revenues of €1.60 are generated in 2024.
In the Milk Substitutes market, volume is expected to amount to 25.69m kg by 2029. The Milk Substitutes market is expected to show a volume growth of 9.3% in 2025.
The average volume per person in the Milk Substitutes market is expected to amount to 0.5kg in 2024.

Key regions: India, Canada, China, United States, Russia

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Región

Comparación de regiones

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Analyst Opinion

The Milk Substitutes Market in Saudi Arabia is experiencing subdued growth, impacted by factors such as competition from traditional dairy products and consumer preferences for fresh milk. Despite this, the market continues to see growth due to the increasing demand for healthier options and convenience in The Food market.

Customer preferences: As health and wellness become increasingly important to consumers in Saudi Arabia, there has been a growing demand for plant-based milk substitutes. This trend is driven by a desire for healthier and more environmentally friendly options, as well as dietary restrictions. Additionally, the rise of veganism and flexitarianism in the region has also contributed to the growth of the milk substitutes market. This shift in consumer preferences is expected to continue, with the market projected to see significant growth in the coming years.

Trends in the market: In Saudi Arabia, the Milk Substitutes market is experiencing a rise in demand for plant-based alternatives, driven by increasing health consciousness and dietary restrictions. This trend is expected to continue, with a projected growth in the market size of 5.2% between 2020-2025. This presents opportunities for industry stakeholders to tap into the growing demand and diversify their product offerings. However, this trend also poses challenges for traditional dairy producers, who may need to adapt their business models to cater to changing consumer preferences. Furthermore, the rise of e-commerce and online grocery shopping in the region could further accelerate the growth of the market, as consumers seek convenient and accessible options for purchasing milk substitutes.

Local special circumstances: In Saudi Arabia, the Milk Substitutes Market within the Dairy Products & Eggs Market is influenced by the country's cultural and religious practices. As the consumption of dairy is restricted during certain periods, such as Ramadan, there is a growing demand for non-dairy alternatives. Additionally, the government's efforts to promote healthy living have led to the popularity of milk substitutes made from plant-based sources, appealing to the growing vegan and health-conscious population. Furthermore, the country's hot climate and limited agricultural land have also contributed to the rise of the milk substitutes market, as it is a more sustainable and cost-effective option.

Underlying macroeconomic factors: The Milk Substitutes Market in Saudi Arabia is heavily influenced by macroeconomic factors such as the country's economic growth and stability, government policies and regulations, and global economic trends. As the largest economy in the Middle East, Saudi Arabia's stable economic growth and favorable fiscal policies have positively impacted the dairy products market, leading to an increase in demand for milk substitutes. Additionally, the increasing health consciousness among consumers and the growing trend of veganism have also played a significant role in the growth of the milk substitutes market in the country.

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.