Saudi Arabia vegan meat market may
register an impressive CAGR growth in the forecast period, 2024-2028, 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 2028. 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 2018 to 2021.
- To
estimate and forecast the market size of Saudi Arabia vegan meat market from
2022 to 2028 and growth rate until 2028.
- 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.
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Attribute
|
Details
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Base Year
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2022
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Historical Data
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2018 – 2021
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Estimated Year
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2023
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Forecast Period
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2024 – 2028
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Quantitative Units
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Revenue in USD Million, Volume in Units and CAGR for 2018-2022
and 2023E-2028F
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Report coverage
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Revenue forecast,
volume forecast, company share, competitive landscape, growth factors, and
trends
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Segments covered
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·
Product Type
·
Type of Sales
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Regional scope
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Western
Region, Northern and Central Region, Eastern Region, Southern Region
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Key companies profiled
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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
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|
Customization scope
|
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase
options
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Delivery Format
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PDF and Excel through Email (We can also
provide the editable version of the report in PPT/Word format on special
request)
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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]