Saudi Arabia Dairy Products Market Research Report, 2029

Saudi Arabia Dairy Products Market Research Report, 2029

Actual Market Research 31-01-2024 61 Pages Figures : 4 Tables : 14 Region : MEA Country : Saudi Arabia Category : Food & Beverages Food

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The dairy industry in Saudi Arabia produces a broad variety of goods, such as cheese, yogurt, milk, and other dairy derivatives. The biggest integrated dairy firms in the area, Almarai, together with other well-known national and international brands, are major participants in the industry. The local dairy business has been greatly aided by government investment and support. Technological advancement and sector expansion have been made possible by initiatives like the privatization of dairy farms and the King Salman Program for Agricultural Development. Modern dairy farms and processing plants with state-of-the-art equipment have also helped to raise output and improve the quality of the final product. The Saudi government's aspirations for economic diversification and sustainability are in line with its objective to attaining self-sufficiency in dairy production. Both domestic and foreign investors who wish to support the nation's dairy supply chain and production have a lot of options as the industry develops. The dairy sector in Saudi Arabia has grown and changed dramatically in the last several years. In an effort to achieve food security and self-sufficiency, the nation, which was previously dependent on imports to meet its dairy needs, has made significant investments in domestic dairy production. Numerous reasons, such as the country's rapidly expanding population, shifting food tastes, and government efforts to lessen reliance on imports, have contributed to this change. According to the research report "Saudi Arabia Market Research Report, 2029," published by Actual Market Research, the Saudi Arabia Dairy Products Market is expected to reach market size of more than USD 6 billion by 2029. The government's ambition to achieve food self-sufficiency, including dairy, is one of the main forces behind transformation in the Saudi dairy business. The nation has historically relied on imports to meet its demands for dairy products, but the reliance on outside sources raised questions about food security. The Saudi government introduced a number of programs targeted at increasing domestic dairy output in order to address this problem. Importantly, the "King Salman Program for Agricultural Development" offers financing and assistance to nearby farmers and agribusinesses. In order to promote investment in cutting-edge farming techniques and dairy production, it comprises subsidies, low-interest loans, and technical support. The government hopes to lessen the nation's dependency on imports and boost dairy product self-sufficiency through this program. Saudi Arabia's population is growing quickly, which has increased domestic demand for dairy products. Dairy products like milk, yogurt, and cheese are becoming more and more necessary as the population grows. Demand for these goods has also increased as a result of shifting dietary habits and increased knowledge of the health advantages of consuming dairy products. Based on the product type, the market is divided into Milk, Cheese, Yogurt, Desserts, Butter, cream, others. The milk segment is expected to generate the highest income due to rising demand and consumption rates across the board. Additionally, the growth rate is expected to accelerate due to regional variations in the consumption patterns of milk products derived from dairy. It may be used in place of practically any dairy product and is regarded as one of the greatest Saudi Arabian dairy products for people following a low-fat diet. Additionally, it is thought to be a component of the diet that supports better gut and immunological health, which is another important aspect fueling the segment's expansion. Growing rates of lifestyle diseases including diabetes and obesity are anticipated to encourage industry expansion over the forecast period. Based on the Distribution channel, the market is divided into Supermarket/Hypermarket, Specialty Stores, Convenience Stores, online retail, Others. The segment with the largest Saudi Arabian dairy product market share is hypermarkets/supermarkets. This is mostly due to the fact that these stores offer a wide range of options and a variety of Saudi Arabia Dairy Products from different brands. Additionally, it is anticipated that price comparisons and in-store promotions will continue to drive consumers to choose hypermarkets and supermarkets for their shopping needs, which will boost the sales of dairy products in Saudi Arabia during the forecast period. This is mostly because there are more online retail channels available, particularly in developing nations. This has increased the penetration of contemporary grocery retail chains and increased Saudi Arabia Dairy's sales. Considered in this report: • Geography: Saudi Arabia • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report: • Saudi Arabia Dairy Products 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: • Milk • Cheese • Yogurt • Desserts • Butter • cream • Others By Distribution channel: • Supermarket/Hypermarket • Specialty Stores • Convenience Stores • Online retail • Others The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Dairy Products 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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