Saudi Arabia Bakery Products Market (2023-2029) | Revenue, Size, Share, Growth - 6Wresearch

Nitesh02 Feb, 2023Business

Saudi Arabia bakery products market revenue size is projected to grow at a CAGR of 3.3% during 2023-2029. The growth associated with the bakery market during the forecast period is accredited to the developments in the kingdom on account of Saudi Vision 2030 and the efforts and initiatives by the government in projects such as Red Sea Development, Jeddah Tower, NEOM City Development and other GIGA Projects. Moreover, with expansion in hotels and opening of restaurant chains in the country to make Saudi Arabia, a leisure tourism hub in the region for foreign tourist would boost the bakery market. Therefore, hospitality sector of the country would multiply the revenues in the coming future. Also, the diversification of the economy on account of rising urban middle class population of the country would increase the demand for bakery products such as breads, cakes/pastries and biscuits across the country.