Report Overview

Saudi Arabia Vegan Meat Market is growing owing to the increasing awareness of the health benefits of vegan meat over animal meat as well as continuous research and development on plant-based meat along with the rising launch of various vegan meat products in Saudi restaurants...

Saudi Arabia Vegan Meat Market - Industry Trends & Forecast Report 2028

Saudi Arabia Vegan Meat Market is expected to grow at a CAGR of 19.4% during the forecast period (2022-2028). The fast expansion of the market is primarily due to the rising demand for meat alternatives to reduce animal slaughter in the country. Moreover, consumer awareness of the need for healthy eating and lifestyle choices has increased as obesity rates rise, along with ailments such as heart disease, high blood pressure, diabetes, asthma, and others. Additionally, the country has a large population that adheres to religious standards and beliefs, eating vegan meat and other products are indirectly supporting the growth of the vegan diet. Furthermore, research and advancements are being conducted continuously to meet the rapidly increasing demand from consumers in the next five years and thus, support the market growth.

Vegan Meat - Overview

Unlike animal meat, vegan meat or plant-based meat is produced from plants and other non-animal products to mimic its flavor, texture, odor, and other properties. Some of these plant ingredients are soy, wheat gluten, green peas, beans, tofu, etc. Since all these plant ingredients are a complete source of protein so can be used as the best alternative to animal meat. The primary purpose of these products is to provide a healthy alternative to chicken, pork, and beef. It is considered a sustainable solution to address environmental concerns to use these plant-based meat products. A growing vegan and vegetarian population are increasing the demand for these products at retail stores across the country.

Saudi Arabia Vegan Meat Market Forecast and Trends

Growth Drivers

Growing Awareness about Health Benefits of Vegan Meat over Animal Meat

Plant-based diets continue to grow, helping people eat more fruits, vegetables, legumes, nuts, and seeds. In addition, plant-based products provide a variety of health benefits, which consumers are becoming increasingly aware of. Consuming animal-based meat excessively can lead to obesity, type-2 diabetes, heart disease, and certain cancers. Unlike animal meat, plant-based meat doesn't cause such diseases. In addition, they help build a stronger immune system. Moreover, plant-based meats provide several health benefits compared to conventional meats, as well as being safer than conventional meat. There has been a significant decline in conventionally processed meat products, such as burgers, sausages, and nuggets, due to the widespread adoption of plant-based meat products. Compared with animal meat, plant-based meat contains fewer calories, cholesterol, and saturated fats. As a result, they usually contain higher levels of micronutrients such as zinc, iron, and calcium. All these health benefits of vegan meat influence people, which in turn fosters market growth.

Constant Research and Development in Vegan Meat fuels the Market

The Saudi Arabia Vegan Meat Market is undergoing continuous research and development. This has resulted in a steady influx of food items in recent years, responding to the market trend and shifting demand toward plant-based meat products. Manufacturers are constantly seeking to extend their retail presence through physical storefronts. For instance, Tanmiah Food Company, a Saudi Arabian meat processor, has stated that it is investigating developing plant-based meat replacements. Thus, there is a rising desire for healthier and more sustainable solutions among various manufacturers. Moreover, in Saudi supermarkets for the manufacturing process of vegan meat, new market players may focus on comprehensive research on various sources of plant-based protein. All these factors boost the growth of the Saudi Arabia Vegan Meat Market during the forecast period (2022-2028).

Increasing Launch of Vegan Meat Products in Various Restaurants

Aware of the desire for vegan meat and dairy-free products, many Saudi supermarkets now sell a wide range of vegan meat items such as tofu burgers, beyond meat burgers, mock duck, and even soy processed meat, as well as confectionery manufactured without the use of beef gelatin. Moreover, various famous cafes in the country are offering more quality and crave-able vegan dishes, from salads and burgers to mock meats made of ingredients like vegetables, wheat gluten, and soy. Furthermore, not only are supermarkets catering to Saudi residents' needs, but restaurants are as well, with Jeddah superfood chain Boga introducing vegan salads and tofu sandwiches, fast food joints Johnny Rockets, and Burgerfuel now offering meat-free burgers and patties, and vegan-friendly eateries establishing themselves in and around the Kingdom. Moreover,

Restraints

Higher Prices of Vegan Meat Compared to Regular Meat

One of the primary stumbling blocks in the vegan meat sector is cost. When compared to animal-based meat, plant-based or vegan meat is more expensive, which will limit its adoption among price-sensitive consumers. Plant-based or vegan meat substitutes are attempting to lower their prices, as their high-cost compared to conventional meat is stifling the fast-growing plant-based business. Moreover, plant-based meat is more costly than traditional meat. Due to trade barriers, disruptions in the availability of raw materials, and inefficient distribution systems caused by COVID-19, plant-based meat prices are anticipated to rise even further. Raw material scarcity and high expenses, as well as high production costs, are expected to stifle the growth of the Saudi Arabia Vegan Meat Market.

Impact of COVID-19 on Saudi Arabia Vegan Meat Market

The unexpected outbreak of COVID-19 both positively and negatively impacted the Saudi Arabia Vegan Meat Market. Due to the closure of malls, grocery shops, and restaurants, sales initially decreased, and many productions were suspended during the entire lockdown. The production also suffered a severe shortage of raw materials, as well as a halt in processing and distribution activities. However, people are now more concerned about the food they eat as a result of the COVID-19 virus's proliferation. There is rising health awareness and emphasis on the benefits of plant-based foods in improving immunity, muscle strength, and maintaining a balanced diet. Furthermore, rising government measures to promote a vegan meat diet, as well as people's awareness of the importance of staying fit and healthy during the epidemic, are accelerating the appeal of vegan meat foods.

Saudi Arabia Vegan Meat Market - By Source

Based on the source, the Saudi Arabia Vegan Meat Market is segmented into Soy, Wheat, Pea, and Other Sources. Soy account for the largest share in the Saudi Arabia Vegan Meat Market owing to its high nutritional values. Also, soy is a complete source of protein and has a meaty texture. Thus, it can work well as a meat substitute, providing the impression that the meal contains more expensive meat. Moreover, the flavoring and texture of soy-based vegan meat are almost similar to real meat. Furthermore, pea protein is expected to dominate the market owing to the growing consideration of pea as a clean-label ingredient as well as its added benefits such as soy-free, gluten-free, and lactose-free.  In addition, research and development in the production of vegan meat by using this soy and peas textured vegetable protein is increasing continuously. This is anticipated to propel the growth of the Saudi Arabia Vegan Meat Market during a forecast period (2022-2028).

Saudi Arabia Vegan Meat Market - By Product

Based on product, the Saudi Arabia Vegan Meat Market is segmented into Burger Patties, Strips & Nuggets, Sausages, Meatballs, and Other Products. The Burger Patties segment holds the largest market share owing to the availability of plant-based burgers in various restaurant chains. Also, faster production, taste, convenience, and abundance in supply surge the demand for vegan meat burgers and patties. Moreover, popular restaurant chains are offering vegan burgers and patties from famous vegan meat food companies. All these factors boost the growth of the Saudi Arabia Vegan Meat Market during the forecast period (2022-2028).

Saudi Arabia Vegan Meat Market – By Type

Based on type, the Saudi Arabia Vegan Meat Market is segmented into Beef, Chicken, Tofu, Tempeh, and Other Types. Among these, the Tofu segment holds the largest market share owing to its large consumption as a vegan product for a longer period. Though, beef provides similar characteristics to that of real beef, which is expected to rapidly gain popularity and aid to register maximum revenue shares of the market in the upcoming five years. All these factors boost the growth of the Saudi Arabia Vegan Meat Market during the forecast period (2022-2028).

Competitive Landscape

The leading market players in the Saudi Arabia Vegan Meat Market are Al Safi - Danone Co. Ltd., Beyond Meat Inc., Upfield, Saudi Dairy and Food Stuff Company, Rude Health, Blue Diamond Growers, Superbom Alimentos, Koita FZE, The Meatless Farm Co., Al Islami Foods, and other prominent players.

The Saudi Arabia Vegan Meat Market is highly fragmented with the presence of several manufacturing companies in the country. The market leaders retain their supremacy by spending on research and development, incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are used.

Recent Developments

• In 2020, Prince Khaled of Saudi Arabia invested in Turtle Tree Labs—a company that aims to displace the traditional dairy industry by producing dairy-identical milk from cells without exploiting animals.

 

Scope of the Report

Attributes	Details
Years Considered	Historical data – 2018-2021
	Base Year – 2021
	Forecast – 2022 – 2028
Facts Covered	Revenue in
Product Service/Segmentation	By Source, By Product, By Type, By Distribution Channel
Key Players	Al Safi - Danone Co. Ltd., Beyond Meat Inc., Upfield, Saudi Dairy and Food Stuff Company, Rude Health, Blue Diamond Growers, Superbom Alimentos, Koita FZE, The Meatless Farm Co., Al Islami Foods, and other prominent players

 

By Source

• Soy
• Wheat
• Pea
• Other Sources

By Product

• Burger Patties
• Strips & Nuggets
• Sausages
• Meatballs
• Other Products

By Type

• • Beef
  • Chicken
  • Tofu
  • Tempeh
  • Other Types

By Distribution Channels

• • Retail Shops
  • Supermarkets/Hypermarkets
  • Online Retail
  • Others

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Saudi Arabia Vegan Meat Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Advancement/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Saudi Arabia Vegan Meat Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Source
         1. Soy
         2. Wheat
         3. Pea
         4. Other Sources
      2. By Product
         1. Burger Patties
         2. Strips & Nuggets
         3. Sausages
         4. Meatballs
         5. Other Products
      3. By Type
         1. Beef
         2. Chicken
         3. Tofu
         4. Tempeh
         5. Other Types
      4. By Distribution Channels
         1. Retail Shops
         2. Supermarkets/Hypermarkets
         3. Online Retail
         4. Others
6. Competitive Landscape
   1. List of Key Players and their Offerings
   2. Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Merger, Acquisition, Partnership.)
7. Impact of COVID-19 on Saudi Arabia Vegan Meat Market
8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
   1. Al Safi - Danone Co. Ltd.
   2. Beyond Meat Inc.
   3. Upfield
   4. Saudi Dairy and Food Stuff Company
   5. Rude Health
   6. Blue Diamond Growers
   7. Superbom Alimentos
   8. Koita FZE
   9. The Meatless Farm Co.
   10. Al Islami Foods
   11. Other Prominent Players
9. Key Strategic Recommendations

*Financial information in case of non-listed companies will be provided as per availability.

**The segmentation and the companies are subjected to modifications based on in-depth secondary research for the final deliverable.

 

List of figures

 

Figure 1        Saudi Arabia Vegan Meat Segmentation

Figure 2        Saudi Arabia Vegan Meat Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Saudi Arabia Vegan Meat Market Size, By Value (USD Million), 2018-2028

Figure 5        Saudi Arabia Vegan Meat Market Share, By Source, By Value, 2018-2028

Figure 6        Saudi Arabia Vegan Meat Market Share, By Product, By Value, 2018-2028

Figure 7        Saudi Arabia Vegan Meat Market Share, By Type, By Value, 2018-2028

Figure 8        Saudi Arabia Vegan Meat Market Share, By Distribution Channel, By Value, 2018-2028

 

List of Tables

 

Table 1         Saudi Arabia Vegan Meat Market Size, By Source, By Value, 2018-2028                   

Table 2         Saudi Arabia Vegan Meat Market Size, By Product, By Value, 2018-2028                  

Table 3         Saudi Arabia Vegan Meat Market Size, By Type, By Value, 2018-2028            

Table 4         Saudi Arabia Vegan Meat Market Size, By Distribution Channel, By Value, 2018-2028           

Table 5         Al Safi - Danone Co. Ltd. Company Overview                

Table 6         Al Safi - Danone Co. Ltd. Financial Overview                

Table 7         Beyond Meat Inc. Company Overview                

Table 8         Beyond Meat Inc. Financial Overview                 

Table 9         Saudi Dairy and Food Stuff Company Company Overview         

Table 10        Saudi Dairy and Food Stuff Company Financial Overview          

Table 11        Rude Health Company Overview             

Table 12        Rude Health Financial Overview              

Table 13        Superbom Alimentos Company Overview           

Table 14        Superbom Alimentos Financial Overview            

Table 15        The Meatless Farm Co. Company Overview         

Table 16        The Meatless Farm Co. Financial Overview          

Table 17        Al Islami Foods Company Overview         

Table 18        Al Islami Foods Financial Overview