Saudi Arabia Retail Market 2024 : Key Growth Factor Analysis and Research Study
Posted by Masud Khan on February 26th, 2020
Market Reports on Saudi Arabia Provides the Trending Market Research Report on “Saudi Arabia Retail Market By Distribution Channel (Hypermarket, Online Retail, Exclusive Stores, Specialty Retailers, Supermarket & Others), By Product Category (Food & Beverages, Apparel & Footwear, Appliances & others), Competition, Forecast & Opportunities, 2024” under Retail category. The Retail Market is projected to exhibit highest growth rate over report offers a collection of superior market research, market analysis, and competitive intelligence and industry reports.
Saudi Arabia Retail Market is projected to exhibit a CAGR of around 6% during the forecast period of 2019-2024, growing from $ 112.9 billion in 2018 to $ 159 billion by 2024, on account of increasing personal disposable income, change in consumption pattern from staple food towards healthier food, and shifting focus from dependency on fuel to other sectors.
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In terms of product category, Saudi Arabia retail market has been categorized into food & beverages, apparel & footwear, appliances, jewelry, pharmacy and others. Of these, food & beverages category accounted for a nearly one-third market share in 2018 and the segment is anticipated to maintain its market dominance during the forecast period as well, backed by the widespread shift in pattern from staple food towards healthier, value-added alternatives. Saudi Arabia retail market has been segmented into central, west, east, south and north regions. Among these regions, Central region is the largest demand generating region in the country’s retail market, due to strong presence of key market players in the region. Riyadh, the capital of Saudi Arabia, which is present in Central region, has seen significant transformation than other cities of regions. Riyadh has become the central hub for new technologies and latest creations.
Saudi Arabia retail market is fragmented in nature due to the presence of several companies. Approval and commercialization of various products and expanding geographical reach are major strategies adopted by industry participants to enhance their market share. Some of the major players operating in Saudi Arabia retail market are Panda Retail Co (Savola Group), Lulu Group International (EMKE Group), Abdullah Al Othaim Markets Co., Fawaz Abdulaziz AlHokair Co., Majid Al Futtaim Retail LLC, among others.
Years considered for this report:
Objective of the Study:
To analyze and forecast Saudi Arabia retail market size.
This Report performed both primary as well as exhaustive secondary research for this study. Initially, This Report sourced a list of retailers across the country. Subsequently, This Reports conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, The Report could include the retailers which could not be identified due to the limitations of secondary research. This Reports analyzed the service offerings, sales channels and presence of all major retailers across the country.
This Report calculated Saudi Arabia retail market size by using a top-down approach, wherein data for various application across various segments was recorded and forecast for the future years. Report sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product categories for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports
Key Target Audience:
Retailers, suppliers, distributors and other stakeholders
Market, by Distribution Channel:
Market, by Product Category:
Market, by Region:
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About the AuthorMasud Khan
Joined: October 15th, 2019
Articles Posted: 190
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