In 2023, Saudi Arabia's condiment export market reached 41.727 million US dollars. The market experienced fluctuations from 2013 to 2023, with declines observed in the early part of the decade and significant growth from 2017 onwards. Between 2022 and 2023, there was a modest year-on-year increase of 3.06%. The five-year compound annual growth rate (CAGR) from 2018 to 2023 was 1.97%, indicating a relatively stable upward trend.
Future trends to watch for:
- Forecasted continuous growth with a projected CAGR of 2.27% from 2024 to 2028.
- Potential market expansions driven by international trade agreements and increased global demand for diverse condiments.
- Innovations in product offerings and sustainable packaging solutions might capture consumer interest and drive further growth.