The food and beverages value added in Saudi Arabia has shown a mix of positive and negative trends from 2013 to 2023, starting at 11.93 units in 2013 and reaching 16.33 in 2023. Significant growth was observed in 2017 with a year-on-year increase of 16.22%, followed by fluctuations in subsequent years. The latest two years recorded year-on-year variations of 1.75% in 2022 and 1.69% in 2023. The compound annual growth rate (CAGR) over the last five years averaged at 1.83%.
Forecasts from 2024 to 2028 indicate continued growth, albeit at a slower pace, with a 5-year projected CAGR of 1.19% and an overall growth rate of 6.1% by 2028.
Future trends to watch for include:
- Impact of technological advancements on production efficiency.
- Government policies aimed at boosting the food and beverage sector.
- Potential effects of international trade agreements on local industry.
