News and Insights 2026

Saudi Arabia’s food and beverage market is on track to reach $58.3 billion by 2033, highlighting the rapid transformation of the Kingdom’s dining sector under Vision 2030 and driving demand for alternative financing among restaurant and café operators.

SPICE, a Sharia-compliant premium dining startup, said its financing model is designed to help businesses fund renovations, expansion and marketing without the constraints associated with traditional debt repayment.

The company’s model also targets increasingly digital-savvy diners. Its mobile app offers 20% cashback on premium dining experiences, alongside personalised restaurant and café discovery, covering premium, trendy and casual concepts.

“Saudi Arabia’s Vision 2030 is transforming the Kingdom into a global F&B powerhouse,” said Zeid Husban, CEO and co-founder of SPICE. He added that operators face challenges accessing capital while consumers increasingly expect digital rewards for their loyalty.

Saudi Arabia’s premium dining segment has expanded to an estimated 1,200 outlets, while cafés and coffee shops number around 12,500. The MICHELIN Guide Saudi Arabia now recognises 52 restaurants across Riyadh, Jeddah and AlUla, reinforcing the Kingdom’s growing international culinary profile.

SPICE said partner brands have recorded a 139% increase in visits, a 347% rise in spending per guest and a 2.5-times return on food-cost credit, alongside a doubling of loyalty and retention.

With 65% of the population under 35 and 92% of diners using mobile apps to discover restaurants, digital-first dining and rewards are becoming increasingly important in Saudi Arabia.