Last year, oil prices deteriorated and as a result so did the Saudi Arabian economic growth and its consumer expenditure.
But does that mean fewer opportunities in the Saudi Arabia market?
No, most definitely not… at least when it comes to the food and drink sector. In fact the change in the way consumers spend money, the altered preferences in the food and drink sector as well as the governmental plans and reforms have created many untapped opportunities in this market, which is often seen as complex and difficult to navigate.
While there has been declining sales growth in the food sector in the recent years as per the graph below, Euromonitor forecasts that the sales growth of packaged food will increase mainly due to unique product development by companies.