With a population larger than the other five GCC countries combined, Saudi Arabia accounted for more than 50% of the region’s food imports prior to the pandemic, and 80% of food consumed in the Kingdom came from abroad. The Gulf region’s dependence on food imports made it vulnerable to the global supply chain disruptions that occurred during the pandemic, which contributed to spikes in food inflation in Saudi Arabia. However, this disruption also spurred domestic producers to invest in new logistics capacity and innovative, data-led solutions to production and distribution challenges. Looking ahead, the investment and revenue outlook for Saudi food companies is bright, as favourable demographic trends and high-level government backing for private sector development, infrastructure upgrades and self-sufficiency in essential consumer goods are creating an enabling environment.
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