The second-largest economy in the Middle-East, Saudi Arabia is a country that’s building a vibrant future for both businesses and consumers. With a young and growing population of over 36 million and a vision focused at increasing household spending, the ratio of citizens exercising weekly, and the average life expectancy of each citizen by 2030, the country is leaping ahead with technological reforms and better infrastructure.
From a business perspective, the geographic position between key global waterways, makes the Kingdom of Saudi Arabia an epicenter of trade and the gateway to the world. The country is the hub connecting three continents – Africa, Europe and Asia and is the world’s biggest exporter of Petroleum. However, Saudi Arabia is now building higher capacities to shift from energy resource based growth to other sustainable sources of growth, like tourism.
The land of the two Holy Mosques, the Kingdom of Saudi Arabia is looking at boosting visits from other countries from 8 million to 30 million every year. The current population demographics of the country also creates great demand for dairy products, juices and other food and beverages.
In this report, we will analyze the current FMCG scenario in Saudi Arabia, the challenges faced by FMCG companies selling in the country, and explore the growth opportunities available in this sector.