The Saudi Arabia Animal feed market is evaluated at US$2.410 billion for the year 2020 and is expected to grow at a CAGR of 5.31% to reach the market size of US$3.462 billion by the year 2027.
Saudi Arabia is one of the leading markets for animal feed products. The animal feed market of Saudi Arabia is showing steady growth compared to other countries in the middle east region. The quality possessed by the feed and food products of Saudi Arabia is one of the major factors contributing to the market growth of the Saudi Arabia animal feed market. The increased meat and processed food consumption of Saudi Arabia are giving potential to the market growth of Saudi Arabia in the animal feed market. The presence of key players and companies in the global food industry is making to the market growth of Saudi Arabia's food market. The rising health consciousness of people is also driving the market growth of Saudi Arabia's animal feed market. As one of the leading countries in meat consumption and domestic and poultry farming animal feeds are in high demand in Saudi Arabia. The support offered by the government in maintaining quality food and meat products is rising the market of animal feed market. The welcoming nature and support of the Saudi Arabian government are also inviting investments from major companies.
The outbreak of the COVID-19 pandemic had adversely affected the market growth of the Saudi Arabia animal feed market. The widespread COVID-19 in Saudi Arabia had tampered with the food markets of Saudi Arabia to a certain extent. The lockdowns and isolations imposed by Saudi Arabian government had resulted in the shutdown of manufacturing units and production plants of animal feed in the country. The lockdowns also affected the market food market. The shutdown of restaurants and hotels declined the food and raw meat market of the country. The decline in raw meat consumption also resulted in the downfall of the animal feed market. The regulations imposed on the supply chain sector adversely affected the import and export rate animal feed market in Saudi Arabia. The animal feed market of Saudi Arabia had severely affected by the impact of COVID-19.
Rising consumption of processed meat and processed food
The progressive and steady growth in the consumption of processed food and meat is giving potential to the market growth of the animal feed market in Saudi Arabia. Saudi Food and Drug authority states that approximately 28,316 Mt (Metric Ton) meat was produced in Saudi Arabia for domestic consumption and needs. Saudi Food And drug authority also account for the rising demand for processed meat and meat products in the forecasting years. The global meet of people from different regions is highly influencing the meat and processed food consumption of Saudi Arabia. The increased consumption of meat and meat products in Saudi Arabia is fingering to the need for more domestic meat production in the country. The developments in domestic farming and poultry in Saudi Arabia are hiking the market value of the Saudi Arabia animal feed market.
Increasing health consciousness of people
The increasing health consciousness of people is fingering to the need for quality food and food products in the Saudi Arabia market. The quality of food and food products ensured by the Saudi government is pushing the market for good and quality food in Saudi Arabia. The quality meat products processed in the country are demanding the need for quality domestic farming and poultry. The demand for animal feed is highly increasing for ensuring good and quality meat production. The investments made by the Saudi government in domestic cattle farming and poultry and the welcoming of major companies in the animal feed market are boosting the growth of the animal feed market in Saudi Arabia.
|Market size value in 2020||US$2.410 billion|
|Market size value in 2027||US$3.462 billion|
|Growth Rate||CAGR of 5.31% from 2020 to 2027|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Type, Livestock, And Raw Material|
|Companies covered||ARASCO, Cargill, Alltech, Beneo, United Feed Company, UNIBIO, FEEDCO|
|Customization scope||Free report customization with purchase|
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