Saudi Arabia Biscuits Market Poised to Grow at Robust CAGR of 10.09% and Surpass Valuation of Over USD 1,190.72 Million by 2032 | Astute Analytica

The Saudi Arabia biscuit market is poised for robust growth, driven by increasing consumer demand and evolving market dynamics. The sweet biscuits segment held a dominant market share and is expected to continue its strong performance, bolstered by the popularity of flavors like chocolate, vanilla, and fruit-based varieties. Packaging innovations, particularly in the boxes segment, is rising trend of gifting and the demand for visually appealing products.

New Delhi, June 05, 2024 (GLOBE NEWSWIRE) — The Saudi Arabia biscuits market was valued at US$ 501.28 million in 2023 and is projected to attain a valuation of US$ 1,190.72 million by 2032 at a CAGR of 10.09% during the forecast period 2024–2032.

The biscuits market in Saudi Arabia has shown significant dynamics over the past years, reflecting broader trends in consumer preferences and market developments. This growth is further evidenced by the average import price for sweet biscuits, which was $3,728 per ton in 2023, marking a 13% increase from the previous year. Consumer preferences have also evolved, with a rising focus on health and wellness influencing choices and product development within the sweet biscuit sector. Popular biscuit types among Saudi consumers include Maamoul (date-filled biscuits) and sandwich biscuits. Additionally, discounters have become a significant retail format for sweet biscuits, highlighting changes in purchasing behavior.

Download Free Sample Copy @ https://www.astuteanalytica.com/request-sample/saudi-arabia-biscuits-market

In the broader context of the food market, the overall revenue projected for Saudi Arabia in 2024 is $60.49 billion, with the per capita revenue expected to be $1,614. The bakery segment, which includes biscuits, is a substantial part of this market. The food and beverage market is anticipated to grow at a CAGR of 3.44% from 2024 to 2032, with a projected market size of $32.83 billion by 2032.

Global trade insights reveal that Saudi Arabia remains a key player in the import and export of sweet biscuits market. The impact of internet usage on consumer behavior is also notable, with Saudis spending an average of 7 hours and 20 minutes on the internet daily, and 3 hours and 10 minutes on social media, which significantly influences online shopping behaviors. The country boasts 42.50 million mobile connections, representing 115.9% of the total population, indicating a high potential for online biscuit sales. Economic factors such as population growth have significantly influenced overall food and biscuit consumption. The private sector, including major food companies like Almarai, plays a crucial role in the food market. Furthermore, sustainability trends and government initiatives are becoming increasingly important. The overall food loss and waste rate in Saudi Arabia is 33.1%, with specific rates for different food categories.

Key Findings in Saudi Arabia Biscuits market

Market Forecast (2032) US$ 1,190.72 million
CAGR 10.09%
By Type Sweet Biscuit (71.54%)
By Ingredients Wheat (36.54%)
By Packaging Type Boxes (46.85%)
By Distribution Channel Offline (78.46%)
Top Trends
  • Emergence of E-commerce and Online Grocery Platforms
  • Shifting Consumer Preference for Convenient and On-the-Go Snacks
  • Innovation in Low-Sugar or Sugar-Free Biscuit Variants
Top Drivers
  • Wider Availability and Accessibility of Biscuits Across Regions
  • Government Incentives for Local Production and Self-Sustainability
Top Challenges
  • Increased Awareness Regarding Health Concerns Related to Sugar and Fat Intake
  • Uneven Marketplace Enforcement and Presence of Counterfeit Products
  • Dependence on External Supply Chains and Need for Self-Sustainability

Consumer Behavior Analysis:  25% of Consumers are Actively Seeking Healthier Snacking Alternatives

The biscuits market in Saudi Arabia is witnessing significant growth, driven by evolving consumer preferences and increasing disposable incomes. This growth is fueled by a burgeoning young population and their inclination towards convenient snack options. Health consciousness is a major trend influencing biscuit consumption patterns. Around 25% of consumers are actively seeking healthier snacking alternatives, including reduced-sugar and sugar-free biscuits. This shift is part of a broader movement towards health and wellness, as consumers become more aware of the adverse effects of excessive sugar and fat intake. Consequently, brands are innovating to meet these demands, offering products that cater to health-conscious consumers.

The impact of the COVID-19 pandemic has also reshaped consumer behavior significantly. During the pandemic, there was a noticeable increase in online shopping, with e-commerce sales rising by 35%. This trend has persisted post-pandemic, making it easier for consumers to compare products and make informed purchasing decisions. The heightened awareness about food security led to a 20% increase in the purchase of packaged foods, including biscuits, as consumers stocked up on essentials. Price sensitivity is another critical factor in the Saudi biscuits market. Approximately 40% of consumers use the internet to compare prices and seek the best deals. This behavior is supported by the high internet penetration rate, which stands at around 95%. The ease of accessing product information and reviews online has empowered consumers to switch brands based on price and quality.

Decoding Saudi Arabia’s Sweet Tooth: The Rise of Sweet Biscuits to Contribute Over 71.54% Market Revenue
In Saudi Arabia biscuits market, there is a marked preference for sweet biscuits over crackers and savory biscuits, significantly influenced by cultural, economic, and market factors. Sweet flavors resonate well with traditional Saudi tastes, aligning with a cultural inclination towards sweetness. The sweet biscuits, snack bars, and fruit snacks segment is projected to grow significantly between 2023 and 2028, driven by consumer demand for indulgent snacks. For instance, the introduction of new flavors has led to a 15% increase in sales within the past year. Convenient packaging options contribute to their popularity, with 62% of consumers citing convenience as a key factor in their purchasing decisions.

Effective marketing and branding strategies have boosted sweet biscuit sales, with brands emphasizing the indulgent experience, leading to a 20% higher recall rate compared to savory biscuits. Despite a growing trend towards healthier eating, sweet biscuits remain dominant, with healthier options such as reduced-sugar variants seeing a 10% increase in market share last year. Rising disposable incomes allow for higher spending on premium food products, including sweet biscuits, leading to a 25% increase in biscuits market penetration over the past two years. Sweet biscuits are widely available across supermarkets, hypermarkets, convenience stores, and online platforms, contributing to a 30% sales increase through online channels alone.

Consumer behavior studies show a strong preference for sweet snacks during social gatherings and daily routines, boosting demand. Seasonal trends drive higher sales, with a 40% spike observed during Ramadan. Despite price sensitivity, the perceived value and indulgence of sweet biscuits justify higher prices, leading to a 35% increase in premium segment sales. Brand loyalty is significant, with a 50% repeat purchase rate for preferred brands. Aggressive advertising and promotional campaigns maintain high visibility, resulting in a 22% increase in brand engagement. Social media and influencer marketing have also contributed to the popularity, with a 45% increase in social media mentions over the past year.

Inquire Before Buying This Research Report: https://www.astuteanalytica.com/inquire-before-purchase/saudi-arabia-biscuits-market

Wheat Stays Top Choice with More than 36.54% Share in Saudi Arabia Biscuits market

A significant number of buyers in Saudi Arabia prefer biscuits made from wheat rather than refined flour, oats, or millets. This preference can be attributed to several factors, including cultural habits, economic considerations, and nutritional awareness. Historically, wheat has been a staple in Saudi Arabia, forming the basis of traditional foods like bread and biscuits. This long-standing preference influences current consumption patterns. Government policies also play a crucial role; the Saudi Grains Organization (SAGO) is the exclusive importer of subsidized food-grade wheat, making wheat-based products more affordable and accessible. In 2022, Saudi Arabia imported $128 million worth of wheat flours, ranking as the 12th largest importer globally. This high import volume ensures a steady supply of wheat for various food products, including biscuits.

Economically, wheat is viable for both producers and consumers. Despite efforts to reduce water usage, Saudi Arabia biscuits market still produces a significant amount of wheat. In the 2019-20 marketing year, wheat production was pegged at 1.3 million tons, up from 1,194 thousand tons in 2020. Wheat consumption in the 2022-23 marketing year was 4.5 million tons, demonstrating its importance in the local market. Nutritionally, wheat provides about 20% of the total food calories and proteins to the global population. Whole wheat flour retains the bran and germ, rich in dietary fiber, iron, and B vitamins, making wheat-based biscuits a healthier option compared to those made from refined flour. The protein in wheat flour, mainly gluten, contributes to the texture and quality of biscuits, making them more appealing to consumers.

The competitive landscape of the Saudi baked goods market, including biscuits, is driven by consumer familiarity and taste preferences for wheat-based products. Despite government efforts to conserve water by reducing wheat production, high import volumes have ensured the steady availability of wheat-based products. Saudi Arabia’s main export destinations for wheat flours include Bahrain, Oman, and Jordan, while major import sources are Kuwait, UAE, and Egypt.

Boxes are Most Prominent Choice of Packaging Biscuits in Saudi Arabia, Control Over 46.85% Market Revenue

The biscuits market in Saudi Arabia is poised for continued growth, driven by evolving consumer preferences and broader market trends. Health and wellness trends are significantly shaping the market, with a rising number of consumers seeking healthier biscuit alternatives, especially packed in boxes. In 2023, the market saw a 15% increase in sales of health-oriented biscuits, reflecting this shift. Manufacturers are increasingly responding to these demands by innovating and introducing biscuits with lower sugar content, added fiber, and natural ingredients. This trend is expected to continue, with projections indicating a further 10% annual growth in the healthy biscuit segment over the next five years. Box packaging, which can prominently display health benefits and nutritional information, will likely remain a preferred choice, aligning with consumer demand for transparency and quality.

The convenience and availability of biscuits remain critical factors in their market dominance. Post-pandemic consumer behavior has underscored the importance of convenience, with a 35% increase in online biscuit purchases recorded in 2022. Boxed biscuits, offering better protection and ease of storage, are particularly well-suited to this trend.

Looking ahead, several megatrends will shape the future of the biscuits market in Saudi Arabia. Ethical considerations and sustainability are becoming more prominent, with 60% of consumers expressing a preference for products packed in boxes made from recyclable packaging. Additionally, the focus on premiumization is evident, with premium biscuit segments growing by 8% annually. The high level of technological adoption, with 95% internet penetration, facilitates the growth of online shopping and digital marketing, making it easier for brands to reach their audience. As consumer expectations evolve to prioritize health, convenience, and ethical considerations, box packaging will continue to dominate due to its versatility and ability to meet these diverse needs.

Saudi Arabia Biscuits Market Key Players

  • Al Babtain Biscuit Manufacturing & Foodstuff Co Ltd (ABISCO)
  • Almarai Company
  • Bahlsen GmbH & Co. KG
  • Britannia Industries Limited
  • Campbell Soup Company
  • Danone S.A.
  • Gandour
  • Halwani Bros Company
  • Kellogg Company
  • Mondelez International, Inc.
  • National Biscuits and Confectioners Co. Ltd.
  • Nestle SA
  • Pladis Global
  • United Food Industries
  • Yildiz Holding AS
  • Other prominent Players

Key Segmentation Overview:

By Product Type

  • Crackers and savory biscuits
    • Plain crackers
    • Flavored crackers
      • Cheese and Spiced
      • Fortified/ Functional Biscuits
      • Sour Cream
      • Others
  • Sweet biscuits
    • Plain biscuits
    • Butter Biscuits
    • Filled/ Coated
      • Chocolate
      • Honey
      • Fruit and Nut
      • Sandwich Biscuits
      • Milk Biscuits
      • Rich Tea Biscuits
      • Others

By Ingredients

  • Refined Flour
  • Wheat
  • Oats
  • Millets
  • Others

By Packaging Type

  • Packets/Pouches
  • Jar
  • Boxes
  • Flat Bottom Bags
  • Others

By Distribution Channel

  • Online
  • Offline
    • Supermarkets
    • Hypermarkets
    • Convenience stores

Buy Now Full Report: https://www.astuteanalytica.com/industry-report/saudi-arabia-biscuits-market?buy_now=true&license_type=single

About Astute Analytica

Astute Analytica is a global analytics and advisory company which has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in depth and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the Globe. They are able to make well calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising of business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of best cost-effective, value-added package from us, should you decide to engage with us.

Contact Us:
Astute Analytica
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
For Sales Enquiries: sales@astuteanalytica.com
Website: https://www.astuteanalytica.com/
LinkedIn Twitter YouTube

CONTACT: Contact Us: Astute Analytica Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World) For Sales Enquiries: sales@astuteanalytica.com Website: https://www.astuteanalytica.com/

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. IndiaShorts takes no editorial responsibility for the same.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Cookies Policy