Press Release Description

Ice Creams Demand in Saudi Arabia to Upscale with the Boost in Tourism and Live Events

The Saudi Arabia Ice Cream Market size was valued at around USD 551.7 million in 2022 and is estimated to grow at a CAGR of about 7.50% during the forecast period, i.e., 2024-29, cites MarkNtel Advisors in the recent research report. The surge in demand for ice cream in Saudi Arabia can be primarily attributed to the country's hot & humid climate. The geographical location of Saudi Arabia and its extreme climatic conditions, mainly during the summer, compels both residents & visitors to seek immediate relief from the heat, making frozen treats like ice cream an appealing & popular choice. These soaring temperatures enhance the appeal of ice cream as a refreshing way to cool down, driving consistent demand throughout the year.

Moreover, the government of Saudi Arabia is actively advancing a strategic plan centered on economic diversification to minimize its reliance on oil production & exports. This deliberate shift has fueled noteworthy advancements in the hospitality sector, leading to the establishment of hotels & restaurants across Saudi Arabia. The burgeoning expansion of hospitality infrastructure, especially the proliferation of hotels & resorts is augmenting ice cream sales in Saudi Arabia. This is due to the frequent inclusion of ice cream offerings on the menus of these establishments. Thus, the flourishing hotel and restaurant sector is playing a pivotal role in bolstering ice cream sales within Saudi Arabia.

Additionally, the Saudi Arabian government has been actively promoting initiatives designed to broaden the country's economic base, thereby reducing its significant dependence on oil reserves. These efforts are exemplified by ambitious strategies, including the National Tourism Strategy, which aspires to attract around 100 million tourists by 2030 by organizing cultural events. These events often feature ice cream vendors to cater to the preferences of attendees, further contributing to the heightened consumption of ice cream, further states the research report, “Saudi Arabia Ice Cream Market Analysis, 2024.”

Saudi Arabia Ice Cream Market

Saudi Arabia Ice Cream Market Segmentation Analysis

Mango-flavored Ice Creams to Dominate the Market

Based on the Flavor, the market is further bifurcated into Mango, Chocolate, Vanilla, and Others (Strawberry, Butterscotch, etc.). Mangoes acquired a significant share since they hold cultural significance in numerous Middle Eastern and Gulf countries, including Saudi Arabia. Mangoes are tropical fruits celebrated for their sweet & refreshing flavor. As a result, most manufacturers use natural mangoes for mango-flavored ice cream development, providing a delightful & cooling treat to combat the heat.

Domestic ice cream manufacturers have traditionally depended on imported raw materials for ice cream production. This reliance on imports has introduced volatility in the prices of raw materials, resulting in certain ice cream flavors being less readily available and often priced at higher rates.

However, there has been a notable upswing in mango production within Saudi Arabia, reducing the domestic manufacturers' dependence on imports and making ice creams in mango flavor more accessible to individuals, enhancing the share of mangoes in the Saudi Arabia Ice Cream Market.

Offline Sales Channel Outperforms Online in Saudi Arabia Ice Cream Market

Based on the Sales Channel, the market is further bifurcated into Online and Offline. Offline sales have secured a substantial portion of the Saudi Arabia Ice Cream Market, largely due to the prevalence of ice cream carts and outlets like Sayaki and Etna artisan gelato. In Saudi Arabia, individuals have a preference for procuring ice creams through physical stores, including hypermarkets, grocery outlets, and mobile ice cream carts since the offline offer a diverse array of ice cream flavors & toppings, empowering customers to tailor their ice cream experience to their individual preferences.

This wide-ranging variety caters to a broad spectrum of tastes & choices, rendering it attractive to a diverse clientele and consequently fortifying the offline sector's position within the Saudi Arabia Ice Cream Market.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Saudia Dairy & Foodstuff Co. Ltd (SADAFCO), IFFCO Group, Saudi Ice Cream Factory Ltd, Baskin-Robins Saudi Arabia, Mars Saudi Arabia Ltd., Batterjee Foodstuffs Factory, Arabian Food & Dairy Factories (FADECO) Co., General Mills Inc., Cone Zone Co., Unilever Group, Others (Cioccolatitaliani, Al Wefag Trading Est), are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the country?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping across the country?
  6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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