26 Mar 2024
Saudi Arabia's food industry: A path to economic growth
![Saudi Arabia's food industry: A path to economic growth](https://cdn.asp.events/CLIENT_Dubai_Wo_4B15F265_5056_B739_54F3125D47F0BC95/sites/saudifood-2023/media/libraries/articles/Food-security-livestock.png/fit-in/700x9999/filters:no_upscale())
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.