Saudi Arabia Breakfast Cereal Market Research Report, 2027

Saudi Arabia Breakfast Cereal Market Research Report, 2027

Actual Market Research 30-11-2022 53 Pages Figures : 5 Tables : 15 Region : MEA Country : Saudi Arabia Category : Food & Beverages Food

The typical Saudi Arabian breakfast consists of dates and qahwa, or bread with cheese or dates and coffee. Breakfast cereals were not part of the daily breakfast in the traditional Saudi household. Changes in household dynamics, such as women entering the labour force, have increased demand for simple breakfast cereals. Factors driving the growth of the Saudi breakfast cereal market include the rising prevalence of heart disease, diabetes, and obesity; increased consumer willingness to adopt a healthy lifestyle; and the increasing influence of Western culture. In addition, the increasing investments by major companies in research and development, strategic alliances and partnerships between enterprises, and a rising middle-class population are further contributing to market growth. The availability of alternative breakfast meals, as well as the high cost of raw materials, is likely to limit the growth of the Saudi Arabia breakfast cereal market. According to the research report "Saudi Arabia Breakfast Cereal Market Research Report, 2027," published by Actual Market Research, the market is expected to increase by USD 0.08 Billion by the end of the forecast year 2027. The breakfast cereal market consists of two types of cereals: Hot cereal and ready-to-eat cold cereal Instant cereal (RTE), also known as cold cereal, includes corn flakes, chocolate flakes, wheat flakes, muesli, and hot cereals, which are mainly oatmeal, oat bran, and porridge. The ready-to-cook segment is presently dominating the market due to the convenience of preparing the food and thus saving time. The hot cereal segment is expected to grow at a higher CAGR during the forecast period due to the growing concern regarding health and wellness among consumers. In addition to this, consumers are shifting toward oats and other hot cereals as a breakfast meal, which is further driving the hot cereal segment. However, the availability of alternative breakfast meals, as well as the high cost of raw materials, is likely to limit the growth of the Saudi Arabia breakfast cereal market. The population of Saudi Arabia was 35,340,680 in 2021, of which 20,437,084 were male and 14,903,596 were female. Of the total population, 8,671,039 are under the age of 14. The population with an age group of 20–40 is 12,188,458. The urban population is 29,799,824 and the rural population is 5,462,868. The GDP of Saudi Arabia is estimated to be USD 1.5 trillion, the inflation rate is 3.1%, and per capita income is $47,700 (2020). Saudi Arabia’s unstable economy in the recent years has led to inflation of various food products. Few food products in Saudi Arabia did not witness a decline in consumption; however, a few other categories have showed major fall in demand due to their high prices. Breakfast cereals prices have risen due to the country’s decelerated economy. According to some research carried out on Saudi children’s preferences towards breakfast consumption, it was found that spread cheese sandwiches were the most consumed breakfast, followed by fried egg sandwiches and breakfast cereals. In breakfast cereals, cornflakes were the most consumed cereals, while cereals such as bran with honey and nuts and oat cereals were the least consumed cereals. Based on distribution channels, the supermarket/hypermarket segment holds a major share in the Saudi Arabian breakfast Cereal market due to the high dependency of consumers on the aforementioned distribution for grocery shopping and the increasing number of supermarkets across the city. Some of the well-known supermarkets are Lulu Hypermarket, Panda Supermarket, Al Jazira, Farm, Danube, Carrefour, and Othaim Supermarkets. The E-Commerce segment is projected to expand at a remarkable CAGR over the forecast period, which can be attributed to increasing internet penetration rates across Saudi Arabia. E-commerce platforms offer a wide range of products to their consumers at attractive discounts, and they provide multiple payment options such as net banking, debit cards, and credit cards, which are some of the important factors augmenting the segment's growth. Saudi Arabia's leading breakfast cereal companies are multinationals such as Kellogg's, General Mills, PepsiCo, Cereal Partners Worldwide SA, and Post Holdings. Together, these five Saudi competitors control more than half of the breakfast cereal market. Along with other smaller players that make up the rest of the market. COVID-19 The outbreak of COVID-19 has positively impacted the growth of the market. Due to COVID-19, people are now concerned about their health and overall wellness, as COVID-19 impacted their mental and physical wellbeing. This in turn has driven consumers toward healthy breakfasts and cereals. Consumers now need healthy food, including breakfast cereals, to keep them healthy, which in turn is expected to propel the growth of the market. Considered in this report • Geography: Saudi Arabia • Base Year: 2021 • Estimated Year: 2022 • Forecast Year: 2027 Aspects covered in this report • Saudi Arabia Breakfast Cereal market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type • Ready-to-eat (RTE) • Hot Cereals By Distribution Channel • Supermarkets & Hypermarkets • Convenience Stores • E-commerce/Online • Others By Ingredient Type • Wheat • Oat • Corn • Barley • Rice • Others Approach of the report The information contained in the report "Saudi Arabia Breakfast and Cereal Market Research Report 2027" are obtained from complete analysis through secondary and primary research. Secondary research includes the information obtained from third party source, various press releases, government generated reports, data's from government databases, company annual reports and listing down the major companies present into the market. After gathering the data's from secondary sources primary research was conducted by making telephonic interviews to the local players about how the market is functioning at the ground level and verifying the details obtained from secondary sources. After completion of all the research process value data of the market were analyzed and forecasted for the future years. Intended audience This report can be useful to Industry consultants, manufacturers, suppliers, associations & organizations related to breakfast and cereal industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. 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