Saudi Arabia vegan meat
market may register an impressive CAGR growth in the forecast period, 2022-2026
on the 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 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, the vegan meat provides a wider
range of flavor for the meat and related items in the menu. Therefore, the
consumers are actively adopting the vegan meats and supporting the growth of
the Saudi Arabia vegan meat market in the five years of forecast until 2026.
Vegetarian substitute to the animal based meat and related products is termed
as vegan meat. The substitute is often made of soy, soy protein, potato
protein, pea protein, or plant based protein although it tastes almost like the
real meat and 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, same flavor although with
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 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 the
account of rapidly increasing consumers demand and increasing health conscious
population that is inclined toward vegan food habits. Moreover, consumers
interested in home cooked meal are supporting growth of retail sales segment.
Also, the availability of the vegan meat on online sales channel has made it
easier for the consumers to purchase vegan meat according to their
conveniences. 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
player 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 the
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 satisfies 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.
Years considered
for this report:
Historical Years: 2016 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2026
Objective of the Study:
- To analyze the historical
growth of the market size of Saudi Arabia vegan meat market from 2016 to
2019.
- To estimate and forecast the market size of Saudi
Arabia vegan meat market from 2020 to 2026 and growth rate until
2026.
- 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.
Click here to download the sample
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 sales@techsciresearch.com