Saudi Arabia Meat Substitutes Market Opportunities, Trends, Growth Analysis and Forecast to 2027
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Saudi Arabia Meat Substitutes Market Overview
The Saudi Arabia meat substitutes market was valued at SAR185.9 million ($49.6 million) in 2022 and is expected to grow at a CAGR of more than 5% during 2022-2027. The soy-based meat substitute was the largest category in 2022. However, the grain-based category is forecast to register the fastest value growth during 2022-2027.
“Per capita consumption of meat substitutes in Saudi Arabia increased significantly from 2017 to 2022. However, it was lower than the global level but higher than the regional level.”
Saudi Arabia Meat Substitutes Market Outlook, (SAR Million, 2022)
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The Saudi Arabia meat substitutes market report provides an overview of the overall sector value and volume data with growth analysis for 2017-2027. The report also offers value and growth analysis of individual segment shares within each category and the change in their market share forecast for 2022-27.
|Market size 2022||SAR185.9 million ($49.6 million)|
|Segmentations||· By Categories
· By Distribution Channel
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Saudi Arabia Meat Substitutes Market Dynamics
Saudi Arabia real GDP expanded in 2022. The economy is forecast to grow slowly during 2023, as the impact of the Russia-Ukraine conflict continues to weigh on the global economy. The slowdown in 2023 will mainly be caused by tighter financing conditions and elevated price levels, which will result in the overall decline of household consumption.
Segmentation covered in the Saudi Arabia Meat Substitutes Market Report:
|· Soy-Based Meat Substitutes
· Grain-Based Meat Substitutes
· Vegetable/Plant-Based Proteins
|· Hypermarkets & Supermarkets
· Convenience Stores
· Food & Drinks Specialists
Saudi Arabia Meat Substitutes Market, Segmentation by Categories
Per capita consumption of vegetable/plant-based proteins was higher in Saudi Arabia compared to both the global level and the regional level during 2022.
The key categories in the Saudi Arabia meat substitute market are soy-based meat substitutes, grain-based meat substitutes, and vegetable/plant-based proteins. The soy-based meat substitutes was the largest category in 2022, followed by the vegetable/plant-based proteins and grain-based meat substitutes. The grain-based category is forecast to register the fastest value growth during 2022-2027.
Saudi Arabia Meat Substitutes Market, by Categories, 2022 (%)
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Saudi Arabia Meat Substitutes Market, Segmentation by Distribution Channels
The key distribution channels in the Saudi Arabia meat substitutes market are hypermarkets & supermarkets, convenience stores, e-retailers, food & drinks specialists, and others. Hypermarkets & supermarkets was the leading distribution channel in the Saudi Arabia meat substitute sector in 2022, followed by convenience stores.
Saudi Arabia Meat Substitutes Market, by Distribution Channel, 2022 (%)
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- Sector data: Overall sector value and volume data with growth analysis for 2017-2027
- Category coverage: Value and growth analysis for grain based, soy based, and vegetable/plant-based proteins with inputs on individual segment share within each category and the change in their market share forecast for 2022-27
- Distribution data: Provides analysis on the leading distribution channels, both at a sector and category level in 2022. The consumer sector reports cover the following 11 distribution channels: cash & carriers and warehouse clubs, convenience stores, department stores, “dollar stores”, variety stores & general merchandise retailers, e-retailers, hypermarkets & supermarkets, food & drinks specialists, and other general retailers.
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- Identify high-potential categories and explore further market opportunities based on detailed value and volume analysis.
- Gain an understanding of the total competitive landscape based on detailed company share analysis to plan effective market positioning.
- Our team of analysts has placed a significant emphasis on changes expected in the market that will provide a clear picture of the opportunities that can be tapped over the next five years, resulting in revenue expansion.
- Analysis of key macroeconomic indicators such as real GDP, nominal GDP, consumer price index, household consumption expenditure, population (by age group, gender, rural-urban split, employed people, and unemployment rate. It also includes an economic summary of the country along with the labor market and demographic trends.
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Table of Contents
- 1. Executive Summary
- 2. Market Environment
- 2.1. Value and Volume Share of Saudi Arabia in the Global and MEA Markets
- 2.2. Growth Analysis of Saudi Arabia Compared to Other Leading Countries in the MEA Market
- 2.3. PCC and PCE of Saudi Arabia Compared to the Global and MEA Markets
- 3. Sector Deep Dive
- 3.1. Saudi Arabia Meat Substitutes Sector Snapshot
- 3.2. Market Size Analysis
- 3.3. Cross-category Comparison – Value Growth Analysis and Category Winners and Losers
- 3.4. Cross-category Comparison – Volume Growth Analysis and Category Winners and Losers
- 4. Category Deep Dive
- 4.1. Per Capita Consumption Analysis by Category
- 4.2. Market Size Analysis – Category: Grain-based
- 4.3. Segment-Level Analysis (in Value Terms) – Grain-based
- 4.4. Segment-Level Analysis (in Volume Terms) – Grain-based
- 4.5. Market Size Analysis – Category: Soy-based
- 4.6. Segment-Level Analysis (in Value Terms) – Soy-based
- 4.7. Segment-Level Analysis (in Volume Terms) – Soy-based
- 4.8. Market Size Analysis – Category: Vegetable/Plant-based proteins
- 4.9. Segment-Level Analysis (in Value Terms) – Vegetable/Plant-based proteins
- 4.10. Segment-Level Analysis (in Volume Terms) – Vegetable/Plant-based proteins
- 5. Distribution Analysis
- 5.1. Channel Share Analysis
- 6. Macroeconomic Analysis
- 6.1. GDP Growth and Inflation
- 6.2. Population Growth
- 6.3. Labor Market Trend
- 6.4. Economic Summary, Labor Market, and Demographic Trends
- 6.5. Saudi Arabia Risk Index (GCRI) 2022
- 6.6. Saudi Arabia Risk Analysis – Compared to Global and MEA Markets
- 7. Methodology
- 8. Definitions
- 9. Appendix
Frequently asked questions
What was the Saudi Arabia meat substitutes market size in the year 2022?
The Saudi Arabia meat substitutes market size was valued at SAR185.9 million ($49.6 million) in 2022.
What is the Saudi Arabia meat substitutes market growth rate?
The Saudi Arabia meat substitutes market is expected to grow at a CAGR of more than 5% during 2022-2027.
Which was the leading category in Saudi Arabia meat substitutes market in 2022?
The soy-based category was the leading category in Saudi Arabia meat substitutes sector in 2022.
Which was the leading distribution channel in the Saudi Arabia meat substitute market in 2022?
Hypermarkets & supermarkets was the leading distribution channel in the Saudi Arabia meat substitutes sector in 2022.
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