Saudi Arabia Specialty Food Ingredients Market Size & Outlook
Saudi Arabia specialty food ingredients market, 2018-2030 (US$M)
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Saudi Arabia specialty food ingredients market highlights
- The Saudi Arabia specialty food ingredients market generated a revenue of USD 2,290.4 million in 2022 and is expected to reach USD 3,202.9 million by 2030.
- The Saudi Arabia market is expected to grow at a CAGR of 4.3% from 2023 to 2030.
- In terms of segment, sensory was the largest revenue generating by product in 2022.
- Functional is the most lucrative by product segment registering the fastest growth during the forecast period.
Specialty food ingredients market data book summary
| Market revenue in 2022 | USD 2,290.4 million |
| Market revenue in 2030 | USD 3,202.9 million |
| Growth rate | 4.3% (CAGR from 2022 to 2030) |
| Largest segment | Sensory |
| Fastest growing segment | Functional |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Sensory, Functional |
| Key market players worldwide | Naturex, Givaudan SA, Ingredion Inc, Associated British Foods PLC, Kerry Group PLC Class A, Ashland Inc, Archer-Daniels Midland Co, Cargill, DSM, Tate & Lyle PLC, Agropur, WILD Flavors, Diana Group, Chr. Hansen |
Other key industry trends
- In terms of revenue, Saudi Arabia accounted for 2.4% of the global specialty food ingredients market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Middle East & Africa, Saudi Arabia specialty food ingredients market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 3,202.9 million by 2030.
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Specialty Food Ingredients Market Scope
Specialty Food Ingredients Market Companies
| Name | Profile | # Employees | HQ | Website |
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Saudi Arabia specialty food ingredients market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to specialty food ingredients market will help companies and investors design strategic landscapes.
Sensory was the largest segment with a revenue share of 54.85% in 2022. Horizon Databook has segmented the Saudi Arabia specialty food ingredients market based on sensory, functional covering the revenue growth of each sub-segment from 2018 to 2030.
The food & beverage industry in Saudi Arabia has witnessed a steady growth over the past few years, despite sluggish economic growth caused due to declining oil prices. Country’s Saudi Vision 2030 diversification plans are expected to augment the number of construction and sustainability projects in the country.
This, in turn, is anticipated establishment of the addition hotels, malls, and restaurants, thereby increasing the consumer base for food & beverages products in the country. The growing tourism industry, coupled with the presence of large number of expat population in the country, contributes to the availability of a diverse cuisine in UAE.
The demand for specialty food ingredients is expected to witness growth in the country owing to the high demand for frozen desserts and frozen dairy products, including ice creams, frozen yogurts, flavored yogurts, and related food products.
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Our clientele includes a mix of specialty food ingredients market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Saudi Arabia specialty food ingredients market , including forecasts for subscribers. This country databook contains high-level insights into Saudi Arabia specialty food ingredients market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Saudi Arabia specialty food ingredients market size, by by product, 2018-2030 (US$M)
Saudi Arabia Specialty Food Ingredients Market Outlook Share, 2022 & 2030 (US$M)
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