Saudi Arabia red meat market is projected to grow at a CAGR of 1. 41% during the forecast period. - Saudi Arabia’s red meat market is flourishing and provides various opportunities for potential market entrants because of the heavy meat consumption by the heavily concentrated Muslim population in the region.
New York, July 28, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Saudi Arabia Red Meat Market - Growth, Trends and Forecasts (2020 - 2025)" - https://www.reportlinker.com/p05934730/?utm_source=GNW
- However, the strong competition posed by white meat products primarily poultry and fish, retrains the market to expand its share in the country.
Key Market Trends
Frozen Meat Recorded Fastest Growth Rate
Ease of incorporation and longer shelf life are the major characteristics supplementing frozen meat market. There is a growing trend of food traceability and rising demand of convenience food products across the country. Also, the strong performance of retail sector along with rapid increase in number of large retail chains including hypermarkets and supermarkets has boosted the demand of frozen foods, including red meat across the country.
Specialty Store Remained as the Largest Point of Sales
Slaughterhouse retailers marked their predominance with the contribution of highest revenue in the segment. Consumers in the country are most likely to purchase fresh meats through these retailers owing to their conventional tendency and positive perception towards cost-effectiveness and trusted source of meat. Moreover, high propensity of slaughterhouses to vertically integrate as a specialty store retailer, further boosts the respective segment sales.
Saudi Arabia red meat market is highly fragmented owing to numerous dominant and small key players involved in the sector. Moreover, owing to high imports practices in the country, foreign players majorly from India, China, and other European countries, claim a substantial share in the market. Key players are focusing on online distribution channels for branding of their products, in order to expand their geographical reach and increase their customer base.
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