Market Assessment for Ready Meals (Frozen and Chilled) Unit in KSA
- The GCC population grew at a 2.6% CAGR since 2013 to reach ~57 million in 2018. Saudi Arabia has the highest population base, followed by the UAE. Large number of the youth, expatriates and working women remain an integral part of the expanding consumer base in the KSA. This attractive demographic mix is driving the demand for packaged and fast food products, in addition to the essential food items.
- KSA’s GDP per capita is expected to grow gradually from 2016 to 2024F. This growth is in line with the positive impact of the economic reforms and fiscal measures implemented by the government in accordance with Fiscal Balance Program and Vision 2030. Female population in the country was reported at 42.4 % in 2018 and a slight growth was expected in 2019. During 2017–2018, >30% of the KSA population were expats, and the total number of non-Saudis was estimated to be 10 million.
- Consumer Price Index is a measure that examines the weighted average of prices of a basket of consumer goods and services. In 2019, Saudi Arabia’s CPI fell by 1% but the food & beverages segment grew at 1% YoY. Aggregate consumer spending increased at a 6% CAGR during 2013–2018. Post economic slowdown, steady growth, coupled with rising urbanization rate, is expected to lead the consumer propensity towards high-value food products.
- In 2018, various factors influenced the rise of food sales in Saudi Arabia. The rise from 0.1% in 2018 to 8.3% in 2019 can be attributed to the following factors—10% increase in food imports, USD 70 billion spend on food consumption and attractiveness of the KSA food & beverages market in the Middle East during 2018–2019 (valued at USD 45 billion (SAR 169 billion). In addition, retail value growth in packaged food was high in 2018 due to higher unit prices, influx of religious tourists and brand loyalty of Saudi consumers.
- Frozen foods is expected to be drive volume (2% CAGR) and sales value (4%) of frozen ready meals through 2020. In 2018, retail sales volume for frozen ready meals dipped by 3%, but grew marginally in value terms to reach 461 tonnes (SAR 20.5 million). The food retail market in Saudi Arabia is expected to post a CAGR of 5% by 2020. An important trend is the expansion of distribution networks for frozen food in supermarkets and hypermarkets in the region. As a result of this, in-store promotions boost sales in 2018. The average retail current unit price increased by 5% in 2018.
Table of Content:
Supply Side – Market Developments
- Secondary Research – Focus KSA Population breakdown of KSA – population by nationality, gender and age-group Changing demographics in the population; changing lifestyles Developments in the ready meals market in Dubai Potential segments within the various sectors – particularly the Hajj and Umrah markets and other areas such as airlines, supplies to super markets and hyper markets
- Primary Research – Ready Meals Unit in KSA Study of 7-8 comparable operators in KSA. Existing, those planned, expansion plans – if any Catering unit features on offer: central hub location, support hubs, break up of production by Breakfast / Lunch / Dinner / other types of foods, bakery production facilities – Rice / Pasta, Protein: Beef, lamb, chicken, fish, etc. and Sauce with or without vegetables processing facilities etc. Key business segments – key clients, contract terms, contract length, other terms and conditions, special package offerings, bulk one-time orders, revenue data – as may be available Menu – types, planning, pricing, accepted food cost levels Staffing levels – staff in kitchen, operations and other support functions, staff planning Packaging & logistics – types of packaging, vans available, other features Storage facilities – for chilled, dry and frozen foods, other facilities like blast / flash freezing High profit business vis-à-vis low profit businesses / clients, as identified. Definitions. Relationship management with clients, administration support, shared call center, if any Safety, quality and other HACCP controls BRC certification, etc. USP’s; affiliations and joint ventures; synergies and product strengths SWOT analysis of the main players
Demand Side Characteristics
- Clients of existing contract caterers, such as: Airlines Companies (a mix of government and private)Restaurants and bakeries outsourcing food production Hospitals Air charter companies Large super markets and hyper markets Labour accommodation camps, on a limited basis
Opportunity Assessment
- Clients of existing contract caterers, such as: Critical success factor and risks to entry Differentiating and marketing strategies SWOT analysis Recommended business model Marketing strategy
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Global frozen ready meals market is projected to , register a substantial CAGR of 5.4% in the forecast period of 2019-2026 Market Definition: Global Frozen Ready Meals Market Availability of instant and affordable food as an alternative for the freshly prepared food which can be stored at minimum possible temperature in order to maintain the quality and nutrients values are defined as frozen food.
Storage of foods at minimum temperature help in preventing it from degradation and protection from microorganisms and bacteria, results in storage of food for several months.
Get Sample Report: https://databridgemarketresearch.com/request-a-sample/?dbmr=global-frozen-ready-meals-market Major Market Competitors/Players Few of the major competitors currently working global frozen ready meals market are Nestlé, Connie's Pizza, The Kraft Heinz Company, McCain Foods Limited, Unilever, 2sfg, Maple Leaf Foods, Hormel Foods Corporation, ADVANCED FRESH CONCEPTS FRANCHISE CORP, CSC Brand L.P, Fleury Michon, Nomad Foods, Tyson Foods, Inc., Sigma Alimentos, ASAHI FORGE CORPORATION, General Mills Inc, Dr. August Oetker Nahrungsmittel KG, Daiya Foods Inc, Conagra Brands Inc and Atkins Nutritionals Inc.Market Segmentations: By Type (Canned/Preserved Ready Meals, Chilled Pizza, Chilled Ready Meals, Dried Ready Meals, Frozen Pizza, Frozen Ready Meals, Prepared Salads), Distribution Channel (Store-Based Retailing ,Online Retailing), Moisture Content (High Moisture Content, Medium Moisture Content, Low Moisture Content), Ingredients (High Intensity Sweeteners, Flavourant, Natural Color, Natural Flavors, Fatty acids), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) Inquiry Before buying@https://databridgemarketresearch.com/inquire-before-buying/?dbmr=global-frozen-ready-meals-market Market Drivers:Rise in awareness about health issues such as celiac disease and lactose intolerance is driving the market growthIncreasing working population and less time for food preparation is a driver for this marketIncrease in purchasing power and changing lifestyle are driving the market growthGrowth in the organized retails of frozen ready meals market is boosting the growth of the market Market Restraints:High concentration of sodium salt in frozen meals can lead to high blood pressure which is a restraining the market growthPresence of fats in the frozen food is hindering the market growthNegative mind-sets and perceptions about the frozen food on health effect is also restraining the market growth About Us: Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches.
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Fact.MR has recently published a new research that provides detailed insights on the working dynamics of the global Ready to Eat Soup market.
The research report offers in-depth information about the key market segments, vendor landscape, geographical outlook, and the factors driving and inhibiting growth.Covid-19 pandemic has disrupted the supply chain of several food products including ready to eat soups.
With people panic buying and hoarding on several food products irrespective of brand, companies have been planning to cut their advertisement and marketing budgets and offering large-scale discounts to further speed up sales.
During the second and third quarter, a moderate demand-supply gap can be expected owing to high pressure on production and limited mobility for shipment of ready-to-eat soups.
The companies included in the report areCampabell Soup Co.The craft Heinz Co.General mills, Inc.Hein Celestial Group, Inc.Amy’s Kitchen, IncThe Ready to Eat Soup market report offers assessment of prevailing opportunities in various regions and evaluates their shares of revenue by the end of different years of the assessment period.
Key regions covered comprise:North AmericaEuropeAsia PacificLatin AmericaMiddle East & AfricaThe research report provides in depth information about the current condition of the competitive landscape of the global Ready to Eat Soup market.
