Key regions: United Kingdom, Germany, United States, Spain, Italy
The demand for Other Livestock Products in Saudi Arabia has been on the rise in recent years.
Customer preferences: Saudi Arabia has a large population of expatriates who come from diverse cultural backgrounds, resulting in a high demand for different types of meat products. Additionally, the country's growing middle class has increased its consumption of meat products, including Other Livestock Products.
Trends in the market: The Other Livestock Products market in Saudi Arabia has seen a shift towards more premium and organic products, as consumers become more health-conscious and aware of the environmental impact of their food choices. This has led to an increase in demand for grass-fed and free-range meat products. Furthermore, there has been a growing interest in exotic meat products, such as venison and ostrich, which are seen as a delicacy in the region.
Local special circumstances: Saudi Arabia is a Muslim-majority country, and as such, the consumption of pork is prohibited. This has led to an increased demand for Other Livestock Products, such as lamb, beef, and chicken. Additionally, the country's arid climate limits its ability to produce certain types of meat, which has resulted in a reliance on imports.
Underlying macroeconomic factors: Saudi Arabia has a strong economy and a high GDP per capita, which has enabled consumers to increase their spending on meat products. Furthermore, the country's growing tourism industry has led to an increase in demand for premium meat products in hotels and restaurants. However, the COVID-19 pandemic has had an impact on the market, with a decrease in demand for meat products due to lower consumer spending and restrictions on travel and dining out.
Data coverage:
The data encompasses B2B. Figures are based on the value of gross production in the agriculture market, which values of production are calculated by multiplying gross production by output prices at the farm gate.Modeling approach:
Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market. As a basis for evaluating markets, we use resources from the Statista platform as well as annual financial reports of the market-leading companies and industry associations, third-party studies and reports, national statistical offices, international institutions, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting agriculture products due to the non-linear growth of this market, especially because of the direct impact of climate change on the market.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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