Saudi Arabia Catering Services Market to be Bolstered by Future Growth in Developing Construction Sector and Enhancing Digital Technology: Ken Research
GURUGRAM, India, August 21, 2017 /PRNewswire/ --
- Saudi Arabia has seen growing number of tourist majorly for religious purpose which has facilitated growth in the hospitality sector. Furthermore, the government has taken initiative to develop the infrastructure in the country. This has led to growing demand in construction sector and hospitality sector which majorly includes Hajj catering and hotels.
- Use of digital platform in the Saudi Arabia Catering Services Market has helped in making the whole process simpler, transparent and more effective. Major companies are using technology to monitor the procurement process to control the quality standards, manage inventory and storage facilities and reduce wastage by using appropriate equipments and proper estimation of food to be produced for a certain event.
- Government authorities such as SFDA have laid down guidelines and regulations to monitor the quality of catering services provided in schools, hospitals and labour camps in order to avoid food poisoning and inculcate healthy eating habits.
Saudi Arabia Catering Services Market has seen development in the last five years with the implementation of Saudi Arabia 2030 and National Transformation Program which focused on developing the infrastructure of the country. As construction activities increased it aided the growth of catering services in labor camps. The industrial and hospitality catering sector has accounted for the largest revenue share in 2016. Growing population, need for the development of a robust transport network, government emphasis on the development of renewable energy infrastructure and strong growth of the non-oil sector have augmented the demand for housing, industrial/commercial construction. The industrial and construction sector has been dominated by expatriates who mostly remain alone. Such employees demand catering services for 3 meals a day at competitive prices. Religious cities such as Makkah, Jeddah and Madina receive millions of religious tourists every year that rely on catering companies for three meals a day during their stay in Saudi Arabia. With the advent of internet, customers are now more knowledgeable about different cuisines and are demanding a fusion menu. This has been supported by increased smartphone penetration which has made the process simpler.
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Ken Research in its latest study, Saudi Arabia Catering Services Market Outlook to 2021 - Increasing Number of Religious Tourists and Growth in the Education and Healthcare Sector to Drive Future suggests that Gulf Catering Company, Nesma trading Co. Ltd., Algosaibi Services, Saudi Airlines Catering Company, Saudi Catering and Contracting Company and Tamimi Global Company Ltd will remain the major catering service providers in this space. However, these major players will witness rising competition from small regional players due to low entry barriers.
Saudi Arabia Catering Services Market is projected to register a positive CAGR during the period 2016-2021. Growing religious tourism, geographical expansion, rising demand for fusion cuisine and increase in Public and Private Investment in infrastructure is expected to drive the Saudi Arabia Catering Services Market in the future.
For more information on the market research report please refer to the link below:
Related Reports by Ken Research
The report provides a comprehensive analysis of in-flight, industrial, school, hotel, healthcare and corporate catering services market in UAE/Qatar. The report covers aspects such as the market size of the UAE/Qatar Catering Services, market segmentation on the basis of type of contract, length of contract and major end users of UAE/Qatar Catering Services Market. The report also covers the competitive landscape, government regulations, customer preferences, and value chain analysis. In addition to this, the report also covers company profiles and product portfolio of major players. This report will help industry consultants, catering service providers, retail chains, potential entrants and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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