Meat - Saudi Arabia

Saudi Arabia

Revenue in the Meat market amounts to €4.49bn in 2024. The market is expected to grow annually by 5.54% (CAGR 2024-2029).
In global comparison, most revenue is generated in China (€251bn in 2024).
In relation to total population figures, per person revenues of €119.70 are generated in 2024.
In the Meat market, volume is expected to amount to 822.80m kg by 2029. The Meat market is expected to show a volume growth of 5.2% in 2025.
The average volume per person in the Meat market is expected to amount to 17.7kg in 2024.

Key regions: Russia, China, Spain, Canada, United Kingdom

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Analyst Opinion

The Meat Market in Saudi Arabia is experiencing minimal growth, influenced by factors such as consumer preferences for healthier options, increasing demand for processed meat, and the rise of meat substitutes. The overall market is also impacted by the sub-markets of Fresh Meat, Processed Meat, and Meat Substitutes, each with their own growth rates and drivers. However, with the growing health consciousness among consumers and the convenience offered by online shopping for meat products, the Meat Market is expected to see a steady growth in the coming years.

Customer preferences: As the demand for healthy and sustainable food options rises in Saudi Arabia, consumers are increasingly turning to plant-based meat alternatives. This trend is influenced by a growing awareness of the environmental impact of meat production, as well as a rise in vegan and vegetarian lifestyles. Additionally, with the rise of e-commerce and delivery services, consumers are also seeking convenient ways to incorporate these alternatives into their diets. This shift towards plant-based options is expected to continue to grow in the coming years, as more consumers prioritize health and sustainability in their food choices.

Trends in the market: In Saudi Arabia, the Meat Market within The Food market is currently experiencing a shift towards healthier and more sustainable options. This trend is driven by a growing consumer awareness of the environmental and health impacts of meat consumption. As a result, there is a rise in demand for plant-based meat alternatives and ethically sourced meat products. This trajectory is significant as it reflects a changing consumer mindset and presents opportunities for industry stakeholders to cater to this demand. However, it also poses challenges for traditional meat producers and may require them to adapt to these changing preferences to remain competitive in the market.

Local special circumstances: In Saudi Arabia, the Meat Market within The Food market industry is heavily influenced by cultural and religious factors. The country's large Muslim population follows strict halal dietary guidelines, which require meat to be slaughtered and processed in a specific way. This has led to the growth of halal-certified meat products and a demand for specialty meat markets. Additionally, Saudi Arabia's desert climate and limited agricultural resources have resulted in a heavy reliance on imported meat, creating unique supply chain challenges for the market. The country's strict regulatory environment also plays a role in the Meat Market's operations, with government agencies closely monitoring food safety and product quality.

Underlying macroeconomic factors: The Meat Market within The Food market in Saudi Arabia is greatly impacted by macroeconomic factors such as the country's national economic health, fiscal policies, and global economic trends. The strong economic growth of the country and favorable regulatory environment have led to increased investment in The Food market, including the meat sector. Additionally, the rising population and increasing disposable income have resulted in a higher demand for meat products, driving market growth. However, fluctuations in oil prices and changes in consumer preferences towards healthier, plant-based diets can also significantly affect the performance of the meat market in Saudi Arabia.

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.