Saudi Arabia Vegan Meat Market By Product Type (Tofu, Tempeh, Textured Vegetable Protein and Others) By Type of Sales (Institutional Sales and Retail Sales) By Region, Competition Forecast & Opportunities, 2027

Saudi Arabia vegan meat market may register an impressive CAGR growth in the forecast period, 2023-2027, on account of rapidly rising demand from the consumers for the alternative meat options in the country. Moreover, the consumers are inclined toward new, trendy, and unique flavoring and innovative food items, and the fact is acting as an important factor responsible for the growth of the Saudi Arabia vegan meat market in the upcoming five years. Additionally, the native consumers in Saudi Arabia are the majority of non-vegetarian and practice certain regularities for the kind of meat they are consuming. In such cases, vegan meat offers the eradication of the constraint regulations, thereby aiding the growth of the market in the next five years. Furthermore, vegan meat provides a wider range of flavors for the meat and related items on the menu. Therefore, the consumers are actively adopting vegan meats and supporting the growth of the Saudi Arabia vegan meat market in the five years of the forecast until 2027. A vegetarian substitute for animal-based meat and related products is termed vegan meat. The substitute is often made of soy, soy protein, potato protein, pea protein, or plant-based protein, although it tastes almost like real meat and is thereby preferred by the consumers concerned for the health as well as the animal lives enthusiasts. The vegan meat is manufactured such that it gives the complete blend of the same texture, the same flavor, although with a healthier alternative and also saving animal lives. Consistent research and advancements are being carried out to satisfy the rapidly increasing demand from the consumers in the next five years and thus supporting the growth of the market.

The Saudi Arabia vegan meat market is segmented by the product type, type of sales, competitional landscape, and regional distribution. Based on the type of sales, the market is further diversified into institutional sales and retail sales. Retail sales are anticipated to hold the larger shares of the revenue in the market on account of rapidly increasing consumers demand and an increasingly health-conscious population that is inclined toward vegan food habits. Moreover, consumers interested in home-cooked meals are supporting the growth of the retail sales segment. Also, the availability of vegan meat on online sales channels has made it easier for consumers to purchase vegan meat according to their convenience. Institutional sales have been slower in comparison in the last five years, though a significant growth is expected in the future five years since the consumers are now demanding vegan meat in their snack items as well as fast food items too.

A partial list of market players in the Saudi Arabia vegan meat market includes Al Safi - Danone Co. Ltd (Al Safi), Beyond Meat Inc., Upfield, Saudi Dairy, and Food Stuff Company, Rude Health, Blue Diamond Growers, Superbom Alimentos, Koita FZE, The Meatless Farm Co., Al Islami Foods, among others. These market players hold larger shares of the market than the new market players. With the evolving technology, it is appropriate to say that the effective research and development of technologically advanced products would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide products that satisfy the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.

Objective of the Study:

• To analyze the historical growth of the market size of Saudi Arabia vegan meat market from 2017 to 2020.
• To estimate and forecast the market size of Saudi Arabia vegan meat market from 2021 to 2027 and growth rate until 2027. 
• To classify and forecast Saudi Arabia vegan meat market based on product type, type of sales, competitional landscape, and regional distribution.
• To identify dominant region or segment in the Saudi Arabia vegan meat market.
• To identify drivers and challenges for Saudi Arabia vegan meat market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Saudi Arabia vegan meat market.
• To identify and analyze the profile of leading players operating in Saudi Arabia vegan meat market.
• To identify key sustainable strategies adopted by market players in Saudi Arabia vegan meat market.

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TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers, and suppliers across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufactures which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufactures, distribution channels and presence of all major players across the country.

TechSci Research calculated the market size of Saudi Arabia vegan meat market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.

Key Target Audience:

• Vegan meat manufacturers, end users, and other stakeholders
• Distributers and suppliers of the products and other stakeholders
• Organizations, forums, and alliances related to vegan meat
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope:

In this report, Saudi Arabia vegan meat market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

• Saudi Arabia Vegan Meat Market, By Product Type:

o   Tofu

o   Tempeh

o   Textured Vegetable Protein

o   Others

• Saudi Arabia Vegan Meat Market, By Type of Sales:
• Institutional Sales
• Retail Sales
• Saudi Arabia Vegan Meat Market, By Region:
• Western
• Eastern
• Northern & Central
• Southern

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Saudi Arabia vegan meat market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Saudi Arabia Vegan Meat Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]