Saudi Arabian Foodservice Market Overview
The Saudi Arabian Foodservice market was valued at USD 27.8 Billion in 2021 and is projected to grow at a CAGR of 7.71% during the forecast period, 2022-2027. The full-service restaurant segment accounted for the major share in the market, owing to the strong presence of the millennial population, the growing tourism industry, and acceptance of western culture across the country. Consequently, the United States casual dining restaurants, such as Chili’s, Fuddruckers, TGI Fridays, Applebee’s, Sizzler, and On The Border, are very popular and located in all the major cities of Saudi Arabia. Consumers visit food service outlets for a number of reasons, including added convenience, to sample new tastes and flavors, to celebrate, and to socialize. For instance, in May 2021, CEC Entertainment, the parent company of American fast-food brand Chuck E Cheese planned to open 100 new outlets around the world over the years, with at least 25 in Saudi Arabia. Hence, the industry gained momentum, and the market studied witnessed strong growth in all foodservice categories.
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Key Highlights of the Saudi Arabian Foodservice Market
- The Saudi Arabian foodservice market is a fragmented and competitive market with numerous players existing in the market. Key players in the market include Mc Donald’s Corporation, Yum! Brands Inc., Herfy Food Services Co., Albaik Food Systems Co. SA, and Domino's Pizza Inc., among others.
- With limited options available for entertainment, the culture of eating at restaurants/food trucks gained higher preference in the country. This augmented the demand for global cuisines, thus boosting the number of foodservice outlets.
- Independent foodservice channels maintain a dominant position in the full-service restaurant segment, as they provide dine-in restaurant services with an extensive menu.
- During Ramadan, to attract consumers, full-service restaurants, including Hyatt Regency Tent and The Ritz-Carlton Residences, are trying to compete with local restaurants to provide a better culinary experience, which is driving the market further.
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Recent Developments in the Saudi Arabian Foodservice Market
- In December 2021, Riyadh international Catering Service, the franchisee of McDonald's restaurants in the central, eastern, and northern regions of the Kingdom, opened its 200th branch on Riyadh Boulevard.
- In November 2021, Dominos launched a new side item, Domino’s Oven-Baked Dips, in three unique flavors: Cheesy Marinara, Five Cheese, and Baked Apple to pair with Domino’s Bread Twists.
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List of Key Players in the Saudi Arabian Foodservice Market
- McDonald's Corporation
- Domino's Pizza Inc.
- Yum! Brands Inc.
- Restaurant Brands International Inc.
- Starbucks Corporation
- Herfy Food Services Co. (Savola Group)
- Albaik Food Systems Company SA
- Al Tazaj
- Americana Group Inc.
- Shawaya House
*List Not Exhaustive
Mordor Intelligence has segmented the Saudi Arabian Foodservice Market based on type and structure:
- Type (Market Size & Forecast based on Value (USD billion), 2016-2027)
- Full-Service Restaurants
- Quick Service Restaurants
- Catering or Institutional Food Sector
- Structure (Market Size & Forecast based on Value (USD billion), 2016-2027)
- Independent Consumer Foodservice
- Chained Consumer Foodservice
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