Market Reports on Saudi Arabia Provides the Trending Market Research Report on “Saudi Arabia Dairy Products Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)” under Food & Beverage Market Research Report category. The Saudi Arabia Dairy Products Market is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
The Saudi Arabian Dairy Products Market was valued at USD 4,807.70 million in 2020 and is projected to grow at a CAGR of 4.71 % during the forecast period (2021-2026)
COVID-19 has a significant impact on businesses and economies. COVID-19 has led to a major consumer shift, as customers are trying out new brands in the low-stock environment. During the initial wave of business and community shutdowns, dairy products were in high demand online, with e-commerce prices and out-of-stock levels increasing as more shoppers shifted from brick-and-mortar retailers due to COVID-19. A major issue is the disrupted supply chains, including dairy snacks, as, during the lockdown, Saudi Arabia closed their borders or raised trade barriers. However, during the lockdown, there was a rising interest in cooking and baking at home, which has led to the increased demand for dairy products like milk, butter, and cream. Also, the increasing demand for innovative on-the-go dairy products is consistently trending in the country as it a quick and convenient source of nutrition and energy, and protein.
Over the medium term, the Saudi Arabian dairy market is marked by high consumption of milk and milk products, as dairy forms a major part of the Saudi Arabian diet. The country give high importance to dairy products to meet its dietary requirements, which drives the dairy market. Additionally, several Saudi Arabian dishes require milk and cheese in their preparation, thereby, propelling the demand for the dairy market in the household consumption.Saudi Arabia also stands out as a major dairy importer globally, importing large volumes of milk and dairy products, including cheese. According to the data published by UN Comtrade, in 2018, Saudi Arabia was the second-largest importer of processed cheese worldwide, after the United Kingdom, with imports amounting to a value of over USD 253 million in the same year.Product innovations with respect to cheese have also been driving the market studied, as leading market players have been frequently launching new and competitive products that favor market growth by increasing the usage of dairy products for different purposes.
Key Market Trends Augmented Demand For Processed Dairy Products
The Saudi Arabian dairy market is marked by high consumption of milk and milk products, as dairy forms a major part of the Saudi Arabian diet. The country give high importance to dairy products to meet its dietary requirements, which drives the dairy market. Additionally, several Saudi Arabian dishes require milk and cheese in their preparation, thereby, propelling the demand for the dairy market in the household consumption.
The market studied witnessed a spectacular growth in the demand for processed dairy cheese. According to Almarai, a leading Saudi-based dairy company, in 2016, Saudi Arabia (KSA) had held the largest share of 68.8% in the GCC processed cheese market, which represents an exceptional demand for cheese in the country compared to other countries in the GCC region.
Saudi Arabia also stands out as a major dairy importer globally, importing large volumes of milk and dairy products, including cheese. According to the data published by UN Comtrade, in 2018, Saudi Arabia was the second-largest importer of processed cheese worldwide, after the United Kingdom, with imports amounting to a value of over USD 253 million in the same year.
Product innovations with respect to cheese have also been driving the market studied, as leading market players have been frequently launching new and competitive products that favor market growth by increasing the usage of dairy products for different purposes.
Milk Remains the Largest Segment
Saudi dairy producers, particularly of milk, have always been the market leaders in the Gulf in terms of quality and quantity. Saudi dairy producers not only sell their products in the Kingdom but within the entire Gulf region, especially the United Arab Emirates, from their farms and plants in the Eastern and Central Provinces.The rising per capita milk consumption, coupled with an increasing population, and the demand for a nutrient-rich diet are rapidly driving the growth of the market studied. Milk is a good source of protein, calcium, magnesium, potassium, Vitamin B12, and others which can play a key role in improving bone health, cognitive function, muscle growth, as well as facilitating weight loss. Thus, these factors are further driving the sales of milk in the country. The expanding population and the development in retail opportunities, which offer a variety of white milk products under the following labels, namely low-fat, vitamin-enriched, and organic, are boosting the demand. Furthermore, the popularity of new product lines, such as on-the-go portion packs of flavored milks, is acting as a stimuli to the market studied.
Competitive Landscape
The Dairy market in Saudi Arabia is highly competitive with a large number of local players catering to the demand for milk products in the country. Some of the major companies are Almarai Company, Sadafco, National Agriculture Development Company (NADEC) and Al Safi Danone Company (ASD) holding a major market share among others. The major players are focusing on introducing new and innovative products in the market to cater to the interests of the consumers. New product innovation is the most preferred strategy in the dairy snacks market. Additionally, the companies are following strategies that include the provision of products through e-commerce (own website and third parties) websites to facilitate a larger targeted audience. Moreover, in order to gain a competitive advantage, the key players try to differentiate their offerings and compete on different factors, including product offerings, flavor, price, quality, packaging format, and marketing activities.
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