Nuts, chips top KSA snacks list

THE MARKET for savoury snacks in the Kingdom of Saudi Arabia grew CAGR of 5.6% during 2011-2016, according to the latest figures from Research and Markets. As to per capita expenditure, Saudi Arabia ranks 9^th among the top 10 global savoury snacks markets.

The nuts and seeds category is the third largest in country’s snack market. It is also the fastest growing category with a CAGR of 9.5% over the next 5 years.

Potato chips top all snacks categories in Saudi Arabia, with a CAGR of 6.4% in the last five years. Chips are forecast to grow at a CAGR of 9.1% during 2016-2021.

One of the biggest markets for food and beverage in the region, Saudi Arabia is seeing a shift in eating habits due to consumers’ busy lifestyles, and snacking has become part of routine. This trend fuels growth in the snacks segment. Increasing spending ability also allows consumers to seek high quality products as well.

The market is forecast to register faster growth at a CAGR of 8.2% during 2016-2021, when compared to 2011-2016 and is expected to be worth US$568 million by 2021, Research and Markets said.