Saudi Arabia Refrigerated Transport Market Size is Growing at a Steady CAGR of 7.90% to Reach USD 7.12 billion by 2029

Published | 02 June 2023

Saudi Arabia refrigerated market is flourishing due to the rapid expansion of the food and beverages industry; increasing international trade and investments in cold chain infrastructure; regulatory requirements; changing consumer preferences; and the surge in e-commerce.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Saudi Arabia refrigerated transport market size at USD 4.17 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects the Saudi Arabia refrigerated transport market size to grow at a CAGR of 7.9% to reach a value of USD 7.12 billion by 2029. The growth of the refrigerated transport market in Saudi Arabia is driven by the expanding food and beverages sector in the kingdom. The demand for fresh, high-quality perishable goods, including fruits, vegetables, dairy products, and meat, has been on the rise as the population grows and consumer preferences shift toward healthier and more diverse food options. To meet this demand, reliable and efficient refrigerated transport services are crucial for maintaining the quality, freshness, and safety of these perishable goods throughout the supply chain. Another contributing factor is the growth of international trade in Saudi Arabia. With limited entertainment options available, the culture of eating at restaurants and food trucks gained prominence in the country. Since 2010, the immigrant population in Saudi Arabia has contributed to the demand for assorted cuisines and new dining concepts. This trend further augmented the demand for global cuisines, thus boosting the number of foodservice outlets. In 2022, due to the high penetration of international cuisines, Saudi Arabia became the largest market, accounting for more than half of the GCC foodservice market.

Opportunity: Growing popularity of environment-friendly refrigerators

To lower the electricity consumption, the government of Saudi Arabia has made it necessary for refrigerator companies to sell energy-efficient refrigerators with 3 and above star ratings. Manufacturers are working on improving the energy efficiency of refrigerators. They are launching refrigerators with innovative technologies, such as intelligent diagnosis technology, inverter technology, and total no frost technology, which are expected to meet a significant market demand in the coming years. Growing consumer awareness and the launch of eco-friendly refrigerators are expected to bolster the market demand through the next five years.

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Saudi Arabia Refrigerated Transport Market - By Application

On the basis of application, the Saudi Arabia refrigerated transport market is split into Chilled Food Products and Frozen Food Products. The chilled food goods category is important in Saudi Arabia's refrigerated transport business. Perishable foods that require transit and storage at temperatures above freezing but below room temperature to retain their quality and freshness are referred to as chilled food products. Population growth, changing consumer tastes, urbanization, and a growing food retail sector have all contributed to an increase in the demand for chilled food items in Saudi Arabia. Consumers want ready-to-eat food alternatives, such as fresh fruits and vegetables, dairy goods, bakery items, prepared meals, and other perishable foods.

Impact of COVID-19 on Saudi Arabia Refrigerated Transport Market

The outbreak of Covid-19 affected the Saudi Arabia refrigerated transport market. The pandemic, as well as following virus-control measures like lockdowns, travel restrictions, and border closures, affected supply chains and logistics activities. The closure of businesses and restaurants, as well as lower consumer spending, lowered demand for perishable items, reducing the number of refrigerated transport services necessary. Also, the pandemic presented the sector with additional problems and obligations.

Competitive Landscape

The Saudi Arabia refrigerated transport market is consolidated in nature. Key players in the market include Al Faisaliah Logistics, Al-Khaldi Holding Company, Abdullah Fouad Holding Company, Tristar Transport, and Hala Supply Chain Services. Product/service launches, approvals, patents, and events, as well as acquisitions, partnerships, and collaborations, are all major strategies used by companies.

Don’t miss the business opportunity of the Saudi Arabia Refrigerated Transport Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The report's in-depth analysis provides information about growth potential, upcoming trends, and the Saudi Arabia Refrigerated Transport Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Saudi Arabia Refrigerated Transport Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

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