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Saudi Arabia packaged foods market: 9% CAGR forecast between 2012-2016

Press Release   •   Aug 21, 2013 16:22 BST

The Saudi Arabia packaged food market is to grow at a CAGR of 8.95 percent over the period 2012-2016. One of the key factors contributing to this market growth is the rising population of the country. The Packaged Food market in Saudi Arabia has also been witnessing the increasing proliferation of media channels. However, Saudi Arabia's rising inflation rate could pose a challenge to the growth of this market.

The population of educated and young people, including females, is increasing in Saudi Arabia. These young educated consumers have become more media savvy as being exposed to various media channels such as televisions, the internet, and social media websites. Exposure to correct information pertaining to products, packaged food companies, and benefits of packaged food has influenced the young generations to consume healthy packaged food. Many of the packaged food companies are expanding their presence through various media channels especially social media such as Facebook and Twitter to reach consumers in Saudi Arabia. For instance, in August 2012, Kraft Foods launched an online campaign in GCC called Dream Whip Desserts Stars," giving a chance to people for showcasing their dessert making talent and win prizes. Thus, such efforts from packaged food companies to advertise their products through different media channels is attracting consumers in Saudi Arabia and positively influencing the growth of the Packaged Food market in Saudi Arabia"

One of the major drivers in the market is the increase in younger population in Saudi Arabia. Increasing disposable incomes among the younger population and rise in living standards has resulted in increasing demand for packaged food in Saudi Arabia.

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