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October 28, 2022

Companies covered in Saudi Arabia Food Service Market are Starbucks Corporation (U.S.), Yum! Brands, Inc. (U.S.), McDonald’s Corporation (U.S.), ALBAIK Food Systems Company Ltd. (Saudi Arabia), Restaurant Brands International Inc. (Canada), Domino’s Pizza, Inc. (U.S.), Herfy Food Services Co. JSC, KSA (Saudi Arabia), KUDU Company for Food and Catering (Saudi Arabia), Papa John’s International, Inc. (U.S.), Hardee’s Restaurants LLC (U.S.) and many more

October 28, 2022 02:35 AM ET

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Fortune Business Insights

Pune, India, Oct. 28, 2022 (GLOBE NEWSWIRE) — Foodservice market size in Saudi Arabia was valued at USD 12.57 billion in 2021 and is expected to reach USD 14.16 billion in 2022. The market is expected to arrive. 30.47 billion USD by 2029 with a CAGR of 11.57% during the forecast period. Increasing acceptance of western culture due to tourism and educational activities is expected to drive the growth of the market. The rise in the number of food outlets and food outlets today is expected to propel the market trajectory. Shifts to international brands and entry of major international food chains are expected to contribute to market development. Fortune Business Insights™ shares this information in a report titled “Saudi Arabia Food Service Market, 2022-2029”.

List of key players profiled in the Market Report

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The slowdown in the food and beverage industry led to negative market growth

As a result of the COVID-19 pandemic, the food and beverage industry was hit hard due to disruptions in manufacturing facilities and distribution channels, leading to a loss in the market. As restaurants closed, the food service market has experienced a decline in market growth.

Full-service restaurants leading the way due to the growing number of physical restaurants

Based on type, the market is segmented into full-service restaurants, quick-service restaurants, institutes, and others. Full-service restaurants account for the largest share of brick-and-mortar restaurants because of their quick service. In 2021 it was 41.64%. Fine dining and casual dining are the main contributors to this segment.

Due to the growing number of Salaried Professionals to Dictate the Commercial Segment

Based on service type, the market is segmented into commercial and institutional service providers. Commercial food service providers are expected to dominate the market in the coming years due to the growing number of home-based salaried professionals. The growth is attributed to an increase in the frequency with which families eat out. Convenience and easy availability of food services is expected to drive the growth of the market.

The report provides a detailed analysis of the above segments and the latest trends in the market. It discusses the driving and restraining factors and the impact of COVID-19 on the market. It also examines regional developments and strategies adopted by major market players.

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