DUBLIN, July 12, 2016 /PRNewswire/ --
Research and Markets has announced the addition of the "Food Retail Market in Saudi Arabia 2016-2020" report to their offering.
The food retail market in Saudi Arabia to grow at a CAGR of 4.9% during the period 2016-2020.
The report covers the present scenario and the growth prospects of the food retail market in Saudi Arabia for 2016-2020. To calculate the market size, the report has taken into consideration the revenue generated from the retail sales of food products in Saudi Arabia and has not included revenue generated from on-trade sales. It also includes the market size based on volume, which has been calculated based on the retail consumption of food products.
A trend which is helping to boost market growth is the increasing imports of food products. It is estimated that Saudi Arabia is importing about 80% of its food requirements, worth about $24 billion, from foreign countries. For religious reasons, all food products imported to Saudi Arabia must be certified halal and also Saudi Arabia bans the import of alcoholic beverages, pork meat, and food ingredients or additives that contain pork products, including pork fat, gelatin, and lard.
According to the report, a key growth driver is the increase in number of retail outlets. Food retailers are trying to increase their store numbers so as to gain more market share and also access more consumer segments. Panda supermarket chain plans to increase its number of stores to 250 by 2020 from the current number of 240. Al Sadhan Supermarkets plans to increase its number of stores by 18 in the next 10 years. Also, Carrefour plans to increase its number of stores to 20 from 14 during the forecast period.
Further, the report states that one challenge that could restrict market growth is Nitaqat Law. One of the main challenges faced by the market is the lack of experienced human personnel due to the Nitaqat law implemented by the Saudi Arabian government. The Nitaqat law was implemented by the government to replace foreign workers with Saudi nationals in the private sector.
The market is divided into the following segments based on product categories:
- Fruits and vegetables
- Other foods
- Othaim Markets
- Panda United
- Tamimi Markets
Other prominent vendors
- Al Raya Supermarkets
- Al Sadhan Supermarkets
- Balsharaf Supermarkets
- Bin Dawood Supermarkets
- Farm Supermarkets
- Lulu Hypermarket
- Manual Hypermarket
- Marhaba Supermarkets
- Sarawat Supermarkets
- Star Hypermarkets
Key Topics Covered:
Part 01: Executive summary
Part 02: Scope of the report
Part 03: Market research methodology
Part 04: Introduction
Part 05: Market landscape
Part 06: Market segmentation by product
Part 07: Market segmentation by distribution channel
Part 08: Market drivers
Part 09: Impact of drivers
Part 10: Market challenges
Part 11: Impact of drivers and challenges
Part 12: Market trends
Part 13: Vendor landscape
For more information visit http://www.researchandmarkets.com/research/3mtf2k/food_retail
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SOURCE Research and Markets