Dairy Market is Expected to Witness a Substantial Growth in Next Five Years
Increasing consumption of milk
and growing popularity of packaged dairy products are acting as key growth drivers
for Saudi Arabia dairy market.
According
to TechSci Research report, “Saudi
Arabia Dairy Market By Type (Drinking Milk, Butter, Cheese, Yoghurt &
Others), By Distribution Channel (Supermarket/Hypermarket, Grocery Retail,
Discount Store, Online, & Others), By Region, Forecast & Opportunities,
2025”, the market is growing at a rapid pace and is anticipated
to undergo a double digit CAGR during the forecast period. Key factors propelling
the growth of Saudi Arabia dairy market are flourishing dairy industry and
entry of new market players. The growing consumption of milk and other dairy
products coupled with increasing awareness pertaining to the benefits of milk
and related products are also accelerating the growth of dairy market in the
country. Furthermore, popularity of packaged dairy goods and increasing
inclination of consumers towards health & fitness are expected to fuel the
market growth in next five years. Also, several international dairy product
manufactures are gaining popularity in Saudi Arabia which is leading to
flourishing dairy industry in Saudi Arabia.
Saudi Arabia dairy market is also growing significantly
due to aggressive advertising being used as a key marketing tool by dairy
product manufactures through various channels. Moreover, availability of dairy
products in convenient packaging is also acting as a growth driver for the
market. Apart from this, thriving e-commerce industry and increased circulation
of dairy products on online channels are anticipated to augment the dairy
market growth during the forecast period. The country is also witnessing
establishment of large commercial dairy farms and manufacturers are adopting
advanced technologies to meet the growing requirement for dairy products.
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Saudi
Arabia dairy market can be segmented based on type, distribution channel and
region. Based on type, the market can be categorized into drinking milk,
butter, cheese, yoghurt and others. Among them, drinking milk segment held the
largest market share until 2019 and is further expected to undergo fastest
growth during the forecast period owing to growing number of health-conscious
population who are aware about the benefits of milk consumption.
Based
on distribution channel, Saudi Arabia dairy market can be segmented into supermarket/hypermarket,
grocery retail, discount store, online and others. Among them, supermarket and
hypermarket held largest market share in terms of revenue until 2019 owing to government’s effort to
increase dairy productivity and availability of wide variety of dairy products in
these stores. However, online channels are expected to undergo significant CAGR
through 2025 owing to growing popularity of several e-commerce sites in the
country.
Major players operating in the Saudi
Arabia dairy market are Al Safi Danone Ltd, Nada Dairy,
Nadec, Saudia Dairy and Foodstuff Company (Sadfco) , Ornua, Danya Foods Ltd, Al
Amoudi Group, Almarai, Freisland, Pinar Dairy Food Co and Friesland Arabia Ltd. Leading companies
are adopting growth strategies such as new product launches, mergers &
acquisitions and joint ventures.
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“Saudi Arabia is witnessing shift in the consumption
pattern of consumers towards healthier diet. Popularity of dairy products like
ice cream and shakes are providing profitable growth opportunities for dairy
market. In coming years, the country is expected to become one of the largest
market for dairy industry with easy availability of these products on various
platforms. In addition to this, increasing consumption of butter and cheese and
boom in food &beverage industry are further supporting the growth of Saudi
Arabia dairy market growth,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Saudi
Arabia Dairy Market By Type (Drinking Milk, Butter, Cheese, Yoghurt &
Others), By Distribution Channel (Supermarket/Hypermarket, Grocery Retail,
Discount Store, Online, & Others), By Region, Forecast & Opportunities,
2025” has evaluated the future growth potential of dairy market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in Saudi Arabia dairy market.
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