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26 Mar 2024

Saudi Arabia's food industry: A path to economic growth

Saudi Arabia's food industry: A path to economic growth
One of the key pillars of Saudi Arabia’s economic development agenda, the Kingdom’s food and agriculture sector is rapidly expanding. Haitham Abugazaleh, an expert at Frost & Sullivan, shares some of the key developments and highlights in the path to further growth.

The food and agriculture sector stands as a cornerstone of economic development in Saudi Arabia, reaching unprecedented heights with a contribution of approximately 100 billion Saudi Riyals ($26.6 billion) to the GDP in 2022 – the highest level on record.

In alignment with the National Industrial Strategy, which aims to achieve food security and holistic economic development, the Kingdom anticipates attracting $20 billion in investments in the food industry by 2035.

 

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