Over the years, the import of meat, fish, and seafood food preparations to Saudi Arabia has shown a steady increase. Between 2013 and 2023, values experienced fluctuations, such as a significant drop in 2017. However, the overall trend has been upward, culminating in a value of 487.01 million USD in 2023. The year-on-year variation over the last two years has been around 3%, indicating a stable growth pattern. The compound annual growth rate (CAGR) over the last five years (2018-2023) stood at 3.64%, illustrating moderate annual growth.
Looking ahead to the forecasted values from 2024 to 2028, the market is expected to continue expanding at a CAGR of 2.06%. This forecasted rate reflects a deceleration in comparison to the past, yet still indicates positive growth. The cumulative growth rate over the five-year forecast period is predicted to be 10.75%, culminating in a value of 555.05 million USD by 2028.
Future trends to watch for include:
- The potential impact of policy changes in Saudi Arabia on food import regulations.
- Global supply chain disruptions that could affect import volumes and prices.
- Shifts in consumer preferences towards more sustainable and locally-sourced options.
- Technological advancements in food preservation and processing that may affect import needs.
