Food - Western Asia

Western Asia

Revenue in the Food market amounts to US$279.20bn in 2024. The market is expected to grow annually by 6.02% (CAGR 2024-2029).
The market's largest segment is the segment Bread & Cereal Products with a market volume of US$42.47bn in 2024.
In global comparison, most revenue is generated in China (US$1,601bn in 2024).
In relation to total population figures, per person revenues of US$1,263.00 are generated in 2024.
In the Food market, 2.9% of total revenue will be generated through online sales by 2024.
In the Food market, volume is expected to amount to 70.57bn kg by 2029. The Food market is expected to show a volume growth of 3.1% in 2025.
The average volume per person in the Food market is expected to amount to 279.70kg in 2024.

Key regions: United States, Canada, China, India, South Korea

Definition:

The food market covers all edible products that are bought and consumed for nutrient-based purposes. The market includes both fresh and processed foods.

Structure:

The market consists of 13 different markets:

The Dairy products & Eggs market covers animal products, such as milk, eggs and products made from mammal’s milk and non-animal products, such as milk substitutes. This market is divided into six subsegments that include milk, milk substitutes, yogurt, cheese, eggs and other dairy products and eggs.
The Meat market covers animal products, such as pork, poultry, and free-from meat products, such as meat substitutes. This market is divided into three submarkets: fresh meat, processed meat, and meat substitutes.
The Fish & Seafood market covers products made from fish and seafood. This market is divided into three submarkets: fresh fish, fresh seafood, and processed fish & seafood.
Fruits & Nuts cover edible fruits and nuts. This market is divided into three submarkets: fresh fruits, processed & frozen fruits, and nuts.
The Vegetables market covers edible plants. This market is divided into two submarkets: fresh vegetables, processed & frozen vegetables.
The Bread & Cereal products market covers baked goods made from dough. Dough is made using flour, water, a leavening agent, and other optional ingredients. This market also covers products made from cereals that are usually used as part of a main meal. This market is divided into five submarkets: bread, pasta, rice, breakfast cereals and other cereal products.
The Oils and Fats market covers both edible oils and fats made from animals and plants. This market is divided into four submarkets: butter, margarine, edible oils, and other oils & fats.
The Sauces and Spices market covers additional ingredients used during the food preparation process and is divided into three submarkets: tomato ketchup, other sauces, and spices & culinary herbs.
The Convenience food market covers prepared food and meals that require little effort to prepare. This market is divided into two subsegments, soups and ready-to-eat meals.
The Spreads and Sweeteners market covers spreads and ingredients added to food or beverages to give it a sweet flavor. This market is divided into two subsegments, spreads and sweeteners.
The Confectionery & Snacks market covers sweet, savory, and salty food. This market is divided into two subsegments, confectionery and snacks.
The Baby food market covers food that is only meant to be consumed by babies and small children.
The Pet food market covers food that is intended for pet use only.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), and sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included. The out-of-home revenue data is only shown as a separate box at the market level.

For more information on the displayed data, click the info button on the right side of each box.

Market

Region

Region comparison

Currency

Analyst Opinion

The Food market in Western Asia is currently experiencing minimal growth, impacted by factors such as shifting consumer preferences towards healthier options, increasing demand for convenience food, and rising awareness about food safety and quality. The sub-markets of Dairy Products & Eggs, Meat, Fish & Seafood, Fruits & Nuts, Vegetables, Bread & Cereal Products, Oils & Fats, Sauces & Spices, Convenience Food, Spreads & Sweeteners, Confectionery & Snacks, Baby Food, Pet Food, Processed Vegetables, Fruit & Potatoes and Pasta & Rice all play a role in shaping this market's growth. Despite the slow growth rate, technological advancements and innovations in food production and packaging are expected to drive the market forward in the coming years.

Customer preferences: As the Western Asia food market continues to grow, consumer preferences have shifted towards healthier and more sustainable food options. This is influenced by cultural beliefs and values, such as the importance of holistic well-being and environmental sustainability. As a result, there is a rising demand for organic and plant-based products, as well as a focus on reducing food waste. This trend is also driven by the increasing awareness of the impact of food choices on personal health and the planet.

Trends in the market: In Western Asia, The Food market industry is experiencing a shift towards more sustainable and organic food products, driven by consumer demand for healthier and environmentally friendly options. This trend is expected to continue as consumers become more health-conscious and aware of the impact of their food choices on the environment. Additionally, there is a growing trend of online food delivery services, as consumers increasingly rely on convenience and technology in their daily lives. These trends have significant implications for industry stakeholders, as companies must adapt their production processes and marketing strategies to meet the changing demands of consumers. Furthermore, there is potential for partnerships and collaborations between traditional food producers and technology companies to create innovative solutions for The Food market industry in Western Asia.

Local special circumstances: In Western Asia, The Food market is heavily influenced by the region's diverse cultural and religious practices. The demand for halal food products, in particular, is on the rise due to the large Muslim population. Additionally, the geography of the region, with its large desert areas, has led to a strong focus on preserving and storing food for long periods of time. This has given rise to a thriving market for food preservation and packaging solutions. Furthermore, stringent regulations surrounding food safety and quality have also shaped the market, with a growing demand for organic and locally-sourced food products.

Underlying macroeconomic factors: The Food market market in Western Asia is heavily influenced by macroeconomic factors such as economic stability, government policies, and consumer spending patterns. Countries with strong economic growth, stable political environments, and supportive fiscal policies are experiencing higher demand for food products. Additionally, the increasing population and urbanization rates in the region are driving the demand for convenient and healthy food options. However, factors such as inflation, currency fluctuations, and trade policies can also impact the market, creating challenges for businesses operating in The Food market industry.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, 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. This data helps us estimate the market size for each country individually.

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 exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

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.