The Kingdom of Saudi Arabia accounts for $40 billion of global food sector. The country imports mostly meat and poultry, dairy, fruits, and confectionery products. To be more food-secure, it is planning to increase its food processing specially in the confectionery, dairy, and fruit (dates) segments, according to a report quoting the U.S-Saudi Arabian Business Council.
Dairy is one of the major industries in the KSA, boasting advanced manufacturing processes and expertise. This coupled with efficient distribution network makes KSA competitive regionally. The local dairy market is valued at $4.7 billion, and is expected to reach $6.4 billion in 2021.
KSA seeks to develop its dates production capability by focusing on higher value-added products and enhancing packaging standards, or by developing low-value high-volume date exports to Islamic countries across the MENA, Asia, and Sub-Saharan African regions, the report said. KSA’s market for fruits, nuts, and vegetables is valued at $8.3 billion. Growing at 6% CAGR, the market will reach about $11.54 billion by 2021.
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