Press Release Description

Growing Tourism Sector to Strengthen the Saudi Arabia Catering Services Market

The tourism sector is one of the major drivers for the Saudi Arabia catering services market. The religious tourism sector has the aim of attracting 30 million pilgrims to the country by 2030. The increasing religious tourists in the Kingdom would boost the growth of contractual catering services in the country.  In addition, the growing trend of luxurious Arabian theme weddings and parties for foreign delegations are projected to surge the demand for catering services in KSA.

According to MarkNtel Advisors’ research report Saudi Arabia Catering Services Market Analysis, 2020”, the catering services market is projected to grow at a CAGR of around 7% during 2020-25. The government initiative to diversify the economy has introduced several construction projects and has resulted in growing religious tourism in the country. Moreover, the introduction of Saudi Vision 2030 is providing more emphasis on infrastructure development thereby positively impacting the growth of Saudi Arabia catering services market.

As per MarkNtel Advisors’ study, the Business & Industry is grabbed the highest market share in the overall Saudi Arabia catering services market in 2019 due to the increasing number of corporate offices and expanding non-oil sectors. The government of Saudi Arabia has planned to invest USD 100 billion for the creation of The King Abdullah Economic City. The development of the project reached 40% in 2019. The project includes the construction of buildings such as residential units, commercial buildings, educational and healthcare institutes. Therefore, the upcoming development projects in the country are expected to increase the demand for catering services in the country.

By operating model, consumer pay/retail/ B2C is anticipated to grasp the highest market share in the years to come. The consumer pay model is majorly utilized by the commercial sector whereas the client pay/B2B model is used in defense, mining, and oil & gas sectors where numerous employees are present.

"Saudi Arabia Catering Services Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the market potential, regional opportunities, key factors impacting sales and purchase decision, hotspots and opportunities available for catering services firms across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the competition assessment, formulation of Go to Market Strategies and identifying the blue ocean for their offerings.  
 
  Industry Segmentation:
1.    By Type (Contractual, Non Contractual)
2.    By Model (Client Pay/B2B, Consumer Pay/retail/B2C)
3.    By Size (Small Enterprise, Mid-Size Enterprise, Large Enterprise)
4.    By End Users (Business & Industry, Education, Healthcare, Defense & Offshore, Mining &EPC, Sports & Leisure, Others)
5.    By Geographic Region (Western, Eastern, Southern, Northern)
6.    By Competitors (Gulf Catering Company, Tamimi Global Company Ltd., Saudi Catering & Contracting, Algosaibi Services, Nesma catering, Others)  

Key questions answered in the study:
1.    What are the current and future trends of the Saudi Arabia catering services market? 
2.    How the industry has been evolving in terms of end-user demand and application areas?
3.    What are the future plans and customer expectations of end-users across the country? 
4.    How the competition has been shaping across the countries followed by their comparative factorial indexing?
5.    What are the key growth drivers and challenges for the Saudi Arabia catering services market?
6.    What are the customer orientation, purchase behavior, and expectations from the catering services companies across various regions?

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