Rising disposable income, growing preference for multi-cuisine, increasing working population and rising infrastructural activities are some of the factors that are driving the Saudi Arabia Catering Services market through 2027F.
According to TechSci Research report, “Saudi Arabia Catering Services Market -Industry Size, Share, Trends, Competition, Forecast & Opportunities, 2017-2027”, the Saudi Arabia catering services market is anticipated to grow at a CAGR of 6.91% in the forecast period to reach USD8.87 billion by 2027. The delivery of raw materials and food for fluent catering services is a rapid logistics and supply chain, further escalating the demand for catering services across Saudi Arabia. The government launched the National Transport and Logistics Strategy to grow and enhance the country’s logistics and turn it into a global logistics hub. Therefore, Saudi Arabia was ranked first in the Road Connectivity Index by the Global Competitiveness Forum Report in 2019. The cold and dry supply chain enhances catering service availability and transportation, enabling the market to expand and capture several economic industries. The United Nations Conference on Trade and Development ranked the Saudi Arabian marine fleet first in cargo capacity, improving the availability of raw materials needed for catering companies to run their operations smoothly.
The catering service business is propelled by labor unions, military, hospitals, universities, schools, colleges mess, the aviation industry, canteens, Umrah/Hajj, and catering services for events like weddings. Every year, Muslim pilgrims travel to Saudi Arabia for Hajj and Umrah, and they completely rely on catering firms for three meals each day during their stay. The pilgrim groups’ income levels affect the quality of food consumed by the pilgrims. Catering firms have undertaken several steps to offer services in areas where food is difficult to obtain.
However, the increasing food wastage across restaurants, caterers, cafeterias, and families, especially during the festive season, is expected to limit the growth of the market in the coming years.
Browse over 34 market data Figures and 2 Tables spread through 96 Pages and an in-depth TOC on “Saudi Arabia catering services market”
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The Saudi Arabia catering services market is segmented based on service type, end user, region, and competitive landscape.
Based on end user, the market is divided into hospitality, holy sites, onshore rigs, healthcare, offshore rigs, education, corporates, others. Hospitality segment is expected to dominate the market in the forthcoming years, 2023-2027. The upsurge in the demand for efficient catering services is a leading factor for the expansion of the Saudi Arabia catering services market in the upcoming years. New market participants are needed to research the market outlook and consumer habits before entering the market. Efficiency and maintenance of the food safety protocols is projected to substantiate the goals for key market players. Growing collaboration and deals with the restaurants and smaller canteen can help them establish themselves in local market.
Major market players operating in the Saudi Arabia catering services market are:
- Gulf Catering Company
- Sodexo Middle East
- Unique Catering Services Ltd.
- Algosaibi Services Co.
- Saudi Airlines Catering Company
- Gulf Mahmal Support Services Co. Ltd.
- Al-Karam Al-Arabi for Catering Services Ltd.
- Rezayat Catering & Support Services
- Almays Catering Solutions
- Arabian Gannas Ltd. Co.
- Saudi Catering and Contracting Co.
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“The Northern & Central region dominated in 2021 is the dominant region in the market and has a huge growth potential owing to the presence of big urban agglomerations, which result in enhanced construction, tourism, and hospitality, all of which fuel the growth of the catering services market. The growing commercial activities along with the modern and changing lifestyles and shifting preferences in the region are primarily driving the growth of the market. The expanding population density, elevating industrialization levels, and escalating business sectors in Saudi Arabia are other significant growth-inducing factors for catering services. Moreover, the need for catering services is anticipated to rise in the forecast years with extensive investment and policies laid by the government, which is expected to augment the market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Saudi Arabia Catering Services Market By Service Type (Contractual Vs. Non-Contractual), By End User (Hospitality, Holy Sites, Onshore Rigs, Healthcare, Offshore Rigs, Education, Corporates and Others (Airlines, Industries, Commercial Sites, Others (Railways, Defense, etc.)), By Region, Competition Forecast & Opportunity, 2027F”, has evaluated the future growth potential of Saudi Arabia catering services 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 catering services market.
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