The market is dominated by foreign suppliers, as imports account for 93.6% of total market size in 2023. Households drive market demand, with household spending representing 55.6% of total demand in 2023. Saudi Arabia has the fourth largest market size for vegetable and animal oils and fats regionally, with demand reaching USD3.2 billion in 2023. Saudi Vegetable Oil & Ghee Co (SAVOLA) is the largest company in Saudi Arabia, generating 14.9% of the industry’s total production value in 2023. The industry is fragmented, with the top three companies generating 20.6% of total production value in 2023. The total number of companies increases in 2023, to 187 units. The costs of the industry decrease by 2.5% in 2023, largely driven by declining B2B costs. The industry’s profitability decreases and stands at 14.3% of production value in 2023, the 10th highest regionally. The industry’s exports share increases in 2023 to 38.7% of total production output. With production value of USD262 million, Saudi Arabia accounts for 1.7% of the Middle East and North Africa total in 2023.
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This Euromonitor industrial report provides unique information on Vegetable and Animal Oils and Fats in Saudi Arabia: ISIC 1514. With this industrial report, you’ll be able to explore the industry from its sources of supply to its buyers. The Vegetable and Animal Oils and Fats in Saudi Arabia: ISIC 1514 report includes: Industry datagraphics including production data, exports, imports, cost structure, and profitability
This is the aggregation of food, beverages, and tobacco products.
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