New York, June 20, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Saudi Arabia Catering Services Market, By Service Type, By End User (Hospitality, Holy Sites, Onshore Rigs, Healthcare, Offshore Rigs, Education, companies and others, by region, competition forecast and opportunities, 2027F” – https://www.reportlinker.com/p06247425/?utm_source=GNW
)), by region, competition forecast and opportunities, 2027F
Foodservices Market in Saudi Arabia was valued at USD 5.99 Billion in 2021 and is projected to grow at a CAGR of 6.91% during the forecast period. The growth of the market can be attributed to several factors such as the rising popularity of fusion cuisine on the menus in Saudi Arabia owing to the development of the multicultural society and the presence of a huge number of expatriates across the country. Thus, the expanding labor force across Saudi Arabia is further driving the growth of the food service market. Furthermore, increasing construction of commercial buildings, schools, hospitals, and IT parks has increased the expansion of the food service industry which is expected to sustain the food service market in the coming years.
The tourism and hospitality industry is closely linked to the catering services market, and the Saudi government has taken various measures to boost tourism and Hajj pilgrims in the kingdom following COVID-19. People across the country have started to pay more attention to their health. and inclined towards more nutritious and healthy foods when the novel coronavirus affected their immune systems.
The growing demand for nutritious and healthy foods in workplaces, schools and restaurants is encouraging food service companies to expand their current portfolio of products and services and provide nutritious diet foods in offices, college messes , restaurants, etc.
The Saudi Arabia catering services market is segmented on the basis of service type, end-user, region and competitive landscape. Depending on the type of service, the market is classified into contractual and non-contractual. The contract segment dominated the market with a market share of 81.60% in 2021. Contract catering services are expected to account for the largest revenue shares in the market and maintain dominance in the market segment owing to growing demand the regular canteen and offices. In addition to this, the emerging trends of contract catering services are also offering cooking, lighting, and seating arrangements for daily consumers, thereby augmenting the growth of the market.
The major market players in the Saudi Arabia catering services market are Gulf Catering Company, Sodexo Middle East, Unique Catering Services Ltd., Algosaibi Services Co., Saudi Airlines Catering Company, Gulf Mahmal Support Services Co. Ltd., Al -Karam Al-Arabi for Catering Services Ltd., Rezayat Catering & Support Services, Almays Catering Solutions, Arabian Gannas Ltd. Co., Saudi Catering and Contracting Co., etc.
Years considered for this report:
Historical years: 2017-2020
Base year: 2021
Estimated year: 2022E
Forecast Period: 2023F–2027F
Goal of the study:
• To analyze the historical market size growth of the Saudi Arabia Catering Services market from 2017 to 2021.
• Estimate and forecast the market size of Saudi Arabia Catering Services Market from 2022E to 2027F and the growth rate till 2027F.
• To classify and forecast the Food Service Market in Saudi Arabia based on type of service, end-user, region and competitive landscape.
• To identify the region or segment dominating in the Saudi Arabia catering services market.
• To identify drivers and challenges for the Foodservices market in Saudi Arabia.
• Examine competitive developments such as expansions, new services, mergers and acquisitions, etc., in the Saudi Arabia catering services market.
• Identify and analyze the profile of key players operating in the Saudi Arabia Catering Services market.
• To identify the key sustainable strategies adopted by market players in the Saudi Arabia Food Service Market.
The analyst conducted extensive primary and secondary research for this study. Initially, the analyst procured a list of catering service providers across the country.
Subsequently, the analyst conducted primary research surveys with the identified companies. During the interviews, the respondents were also asked about their competitors.
Using this technique, the analyst could include service providers that could not be identified due to the limitations of secondary research.
The analyst calculated the Saudi Arabia Foodservices market size using a bottom-up approach, where data from various end-user segments was recorded and forecasted for the coming years. The analyst obtained these values from industry experts and company representatives and validated them externally by analyzing historical data from these services to derive an appropriate overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also used by the analyst.
Key target audience:
• Catering service provider companies/partners
• End users
• Government bodies such as regulators and policy makers
• Organizations, industry associations, forums and alliances related to food services
• Market research and consulting firms
The study is helpful in providing answers to several critical questions which are important for industry stakeholders such as food service companies, end users etc., besides enabling them to form strategies investment and capitalize on market opportunities.
In this report, the Food Services Market in Saudi Arabia has been segmented into the following categories, in addition to industry trends which have also been detailed below:
• Foodservices market in Saudi Arabia, by type of service:
o Not contractual
• Saudi Arabia Food Service Market, by End User:
o Holy places
o Land platforms
o Offshore platforms
• Foodservices market in Saudi Arabia, by region:
o North and Center
Company Profiles: Detailed analysis of the major companies operating in the Saudi Arabia catering services market.
With the market data provided, we offer customizations based on a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of other market players (up to five).
Read the full report: https://www.reportlinker.com/p06247425/?utm_source=GNW
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