The mutton and goat meat market in Saudi Arabia has shown a general downward trend from 2014 to 2023, with the volume standing at 141 thousand metric tons in 2023. Over the last two years, the year-on-year variation was -2.08% in 2023, reflecting a continuous decline. Analyzing the last five years, the compound annual growth rate (CAGR) is -1.62%, indicating a steady decrease in market volume. Significant drops occurred in 2016 with -13.37% and 2020 with -18.63%, while record increases were noted in 2021 at 18.07%.
Forecast data from 2024 onwards suggest a continuing decline, with a forecasted 5-year CAGR of -1.74%, resulting in an 8.41% reduction by 2028. By 2028, the mutton and goat meat market is expected to further drop to 126.4 thousand metric tons.
Future trends to watch for include potential impacts of changing dietary preferences, increased health consciousness among consumers, and any government policies affecting meat production and importation. Monitoring these factors could provide critical insights into further market developments and opportunities.
