Saudi Arabia: Food Processing Ingredients
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Saudi Arabia is the largest economy in the Arab world and home to a growing food manufacturing and processing sector as a result of favorable trade agreements, population growth and rapid socioeconomic changes. Investment in the sector is projected to reach $59 billion in 2021, an increase of approximately 64 percent since 2013, and ranges from local food manufacturers to major multinational companies. Most Saudi food manufacturers depend on imports for food ingredients, and subsequently they imported nearly $2.7 billion ($350 million from the United States) worth of intermediate food products in 2019. While the United States continued to thrive on traditional exports, Post anticipates healthier foods will be a major driver in Saudi Arabia over the next several years. The United States is well-positioned to capture this market share.