Market Reports on Saudi Arabia Provides the Trending Market Research Report on “Agriculture in Saudi Arabia - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)”under Saudi Arabia Agriculture Market category. The Agriculture Market in Saudi Arabia is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Agriculture in Saudi Arabia is projected to register a CAGR of 4.5% during the forecast period (2021-2026).
The global Covid-19 pandemic had a minimal impact on Agriculture Market in Saudi Arabia. The capital intensive processing systems for staple crops have led to avoid labor shortage and ensure production efficiency. The kingdom has the largest storage systems for wheat and flour with a storgae capacity of more than 3.3 million metric ton and the efficient supply chains ensuring to meet the daily consumer needs have resulted in mitigating the Covid-19 related disruptions. Despite the pandemic outbreak and its effect on the global supply chain, the kingdom overcame it through the strength and durability of food and agricultural security.
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Saudi Arabia is the largest market for agriculture in the GCC region and the demand for agriculture is higher at present in the country, owing to changing consumption patterns of consumers and increasing awareness. The increasing presence of superstores and hypermarkets has increased the access to high-quality agricultural products for the Saudi population. As many of these retailers adopt strategies, including optimal pricing strategies to capture the market, the demand among consumers is increasing. The urban population is gradually becoming brand conscious and is becoming aware about the origin and type of food consumed.
Key Market Trends
The Push Towards Water Conservation Is Driving the Market
The Saudi government discontinued its domestic wheat production program in the year 2015 as an initiative towards water conservation. The comparative advantage of each region in terms of climate, water abundance, and developing agricultural technology have made the agricultural sector achieve high growth and self-sufficiency. This self-sufficiency in food production is resulting in the improvement of quality in the agricultural products and reduce the use of groundwater for agricultural purposes which accounted for approximately 10.0 billion cubic meters in 2019. The Saudi government has been encouraging farmers to participate in alternative sustainable agricultural activities, such as greenhouse farming and implementing advance drip irrigation practices, to produce fruits and vegetables. This is promoting the cultivation of different varieties of fruits, vegetables and grains for sustainable development of the nation.
The Fruits Segment leads the Market
The fruit market in Saudi Arabia is driven by the increasing disposable income of the Saudi population, increasing health concerns, and growing awareness about the positive benefits of consuming fruits and accelerating urbanization trends. There is a rising trend of more and more people buying processed fruits and fruit snacks, as opposed to fresh fruit produce. The canning of fruits is the largest domestic business segment, accounting for nearly half of the local earnings concerned with the fruit market. Manufacturing of fruit juice is the second-largest source of revenue for local producers, occupying one-third of the total revenue.
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