Lewes, DE -- (SBWIRE) -- 07/06/2016 -- Report forecast the food retail market in Saudi Arabia to grow at a CAGR of 4.9% during the period 2016-2020.

Saudi Arabia is a desert country and is known as the birthplace of Islam. It is home to the religion's two most sacred mosques, Masjid al-Haram in Mecca and Masjid an-Nabawi in Medina, the burial site of prophet Muhammad. It is the world's largest producer and exporter of petroleum products. It has the world's second-largest oil reserves and sixth-largest gas reserves. The country is categorized as a World Bank high-income economy with a high Human Development Index.

The report covers the present scenario and the growth prospects of the food retail market in Saudi Arabia for 2016-2020. To calculate the market size, the report has taken into consideration the revenue generated from the retail sales of food products in Saudi Arabia and has not included revenue generated from on-trade sales. It also includes the market size based on volume, which has been calculated based on the retail consumption of food products.

The market is divided into the following segments based on product categories:
- Cereals
- Dairy
- Fruits and vegetables
- Meat
- Other foods

According to the report, a key growth driver is the increase in number of retail outlets. Food retailers are trying to increase their store numbers so as to gain more market share and also access more consumer segments. Panda supermarket chain plans to increase its number of stores to 250 by 2020 from the current number of 240. Al Sadhan Supermarkets plans to increase its number of stores by 18 in the next 10 years. Also, Carrefour plans to increase its number of stores to 20 from 14 during the forecast period.

Further, the report states that one challenge that could restrict market growth is Nitaqat Law. One of the main challenges faced by the market is the lack of experienced human personnel due to the Nitaqat law implemented by the Saudi Arabian government. The Nitaqat law was implemented by the government to replace foreign workers with Saudi nationals in the private sector.

Food Retail Market in Saudi Arabia 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key players in the food retail market in Saudi Arabia: Carrefour, NESTO, Othaim Markets, Panda United, and Tamimi Markets.

Other Prominent Vendors in the market are: Al Raya Supermarkets, Al Sadhan Supermarkets, Balsharaf Supermarkets, Bin Dawood Supermarkets, Farm Supermarkets, Lulu Hypermarket, Manual Hypermarket, Marhaba Supermarkets, Sarawat Supermarkets, and Star Hypermarkets.

Market driver
- Increase in number of retail outlets
- For a full, detailed list, view our report

Market challenge
- Nitaqat law
- For a full, detailed list, view our report

Market trend
- Increasing import of food products
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 65 pages and 43 Exhibit "Food Retail Market in Saudi Arabia 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by product, Market segmentation by distribution channel, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/food-retail-market-saudi-arabia-2016-2020

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