The value added in the Food, Beverages, and Tobacco sector in Saudi Arabia saw a notable fluctuation over the past decade, starting at 11.94 in 2013 and gradually increasing to 13.15 in 2023. The highest point was in 2017 with 13.89, followed by a slight decline and stabilization at 13.14 from 2018 to 2022. The year-on-year variations indicate moderate growth periods interspersed with minor declines, highlighting the sector's resilience.
Future forecasts predict stability, with values remaining consistent at 13.15 through 2028. The forecasted CAGR of 0 signifies a stagnation in growth, projecting a steady but unremarkable performance.
Future Trends to Watch For:
- Impact of new governmental policies on the sector.
- Technological advancements and their adoption within the industry.
- Changes in consumer preferences and purchasing power.