Saudi Arabia Catering Services Market Outlook to 2021 – Increasing Number of Religious Tourists and Growth in the Education and Healthcare Sector to Drive Future

LONDON, Dec. 4, 2017 /PRNewswire/ —

Executive Summary
The report titled “Saudi Arabia Catering Services Market Outlook to 2021 – Increasing Number of Religious Tourists and Growth in the Education and Healthcare Sector to Drive Future” provides a comprehensive analysis of the catering services market in Saudi Arabia. The report covers aspects such as the market size of the Saudi Arabia Catering Services, market segmentation on the basis of type of contract and by major end users (Industrial/Construction, Hospitality, Education, Corporate, Flight, Healthcare and others).

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The report also covers the competitive landscape, government regulations, customer preferences, and value chain analysis. In addition to this, the report also covers company profiles and product portfolio of major players along with menus and price as per the end users. This report will help industry consultants, catering service providers, retail chains, potential entrants and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

Saudi Arabia Catering Services Market
The Saudi Arabia Catering services market has grown from USD ~ billion in 2011 to USD ~ billion in 2016 at a CAGR of ~%. This growth was driven by rise in construction activities as the government invested in developing the infrastructure of the economy to reduce the dependence of Saudi Arabia on oil sectors.

Industrial catering has accounted for the largest revenue share of ~% in 2016. This was followed by the hospitality sector which includes hotels, hajj catering and corporate event catering which contributed ~% in the revenue share. The catering industry also saw increasing use of technology and modern methods of production which include online ordering apps, vehicle tracking systems and inventory management platform.

This helped in increasing the efficiency of various processes involved in the catering business

Market Segmentation
By Type: Contract catering services have accounted for ~% of the revenue share in 2016 and non contract catering took the rest ~%. Since major end users of catering services which include airline, education and healthcare institutions, hospitality sector and industrial sector hire catering services on contractual basis and only small scale catering services hired for personal events and marriages in personal spaces, the share of contract catering services is higher. The contract catering services were mainly dominated by 1 year long contracts as they accounted for ~% of the catering contracts revenue in 2016 as the customers initially look for good quality catering service.

Once satisfied with the services, they tend to renew the contracts after 1 year

By End Users: Saudi Arabia hospitality catering which is majorly dominated by Hajj catering services has accounted for the largest revenue share of ~% in the Saudi Arabia Catering Services Market in 2016 as infrastructure development in the tourism sector increased. The industrial sector has accounted for ~% in Saudi Arabia catering services in 2016 supported by the announcement of Saudi Vision 2030 and National Transformation Plan (NTP) 2020. Moreover, the education and healthcare sector saw an increase in number of schools and hospitals due to rising population, increasing private sector participation, growing demand for skilled workforce and sedentary lifestyle of Saudi Arabia.

Both the sectors together accounted for ~% in the revenue share of Saudi Arabia catering services market in 2016. In flight and airport catering have contributed ~% in the revenue share of Saudi Arabia catering service market in 2016

Competition Scenario
Saudi Arabia has over ~ catering service providers as of 2016. The major players in the industry are Gulf Catering Company, Nesma trading Co. Ltd., Algosaibi Services, Saudi Airlines Catering Company, Saudi Catering and Contracting Company and Tamimi Global Company Ltd. This market has seen a rise in competition which is being driven by growing demand and increasing use of technology and innovation.

Gulf Catering has production plants in Riyadh, Jeddah and Dammam and serves over ~ million meals per years.

Saudi Airlines Catering Company delivered ~ million meals in 2016 and catered ~ flights with an annual turnover of SAR ~ billion. These major players invest in technology to ensure premium quality food and service.

Since major clients hire on contractual basis, these players compete to achieve contracts for longer duration to ensure regular orders and increase profits. They offer different menus and customization services tailored for different end users

Future Outlook
The Saudi Arabia catering service market is expected to grow from USD ~ billion in 2016 to USD ~ billion in 2021 at a CAGR of ~%. The major growth driver is expected to be the increased spending in construction and hospitality sector as government plans such as Saudi Vision 2030 and National Transformation Program create opportunities and the economy develops its non-oil sector.

The NTP includes ~ projects and is estimated at SAR ~ billion aims to improve services for Hajj and Umrah pilgrims and developing the education, healthcare and infrastructure scenario of Saudi Arabia.

The Saudi Arabia catering services market is expected to grow from USD ~ billion in 2016 to USD ~ billion in 2018 at a CAGR of ~%. The catering service revenue is expected to augment at a higher rate from USD ~ billion in 2018 to USD ~ billion in 2021 at a CAGR of ~%. Moreover, this sector will see an increase in number of new entrants in major cities such as Riyadh, Jeddah and Madinah as religious tourism is expected to reach ~ million by 2020.

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