Market Size of Agriculture Industry In Saudi Arabia
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 18.77 Billion |
| Market Size (2029) | USD 24.14 Billion |
| CAGR (2024 - 2029) | 5.20 % |
Saudi Arabia Agriculture Market Analysis
The Agriculture Market In Saudi Arabia Market size is estimated at USD 18.77 billion in 2024, and is expected to reach USD 24.14 billion by 2029, growing at a CAGR of 5.20% during the forecast period (2024-2029).
Saudi Arabia has been one of the largest agricultural markets in the GCC region over recent years. Several initiatives undertaken by the government to ensure food security, the shift toward greenhouse production, and the increase in the adoption of high-tech farming practices are some favorable factors driving the market growth in the country. For instance, in 2023, Saudi Arabia’s Ministry of Environment, Water, and Agriculture allocated USD 104.7 billion to develop 3,300 water projects. Such initiatives facilitate the development of the agriculture sector by bringing advanced farming technologies into the country. In terms of production, fruits hold the largest market share in the country. The fruits grown locally are more prevalent in the country. The common fruits produced in the country include dates, grapes, watermelon, figs, peaches, mangoes, and papaya. Dates, among other crops, are essential economic crops and are highly cultivated in Saudi Arabia. The favorable climatic conditions of the country make it feasible to cultivate dates at a higher volume, bringing in increased scope for export opportunities and driving the market. According to the International Trade Centre, Saudi Arabia ranked first globally in date exports, reaching USD 341.5 million with a volume of 321.1 thousand metric tons in 2022.
Saudi Arabia Agriculture Industry Segmentation
In Saudi Arabia, agriculture witnessed a drastic change, with the conversion of large desert areas into productive farmlands using the latest and advanced technologies.
The Saudi Arabian Agriculture Market is segmented by Type into Food Crops/Cereals, Fruits, Vegetables, and Oilseeds and Pulses. The report includes Production Analysis (Volume), Consumption Analysis (Value and Volume), Export Analysis (Value and Volume), Import Analysis (Value and Volume), and Price Trend Analysis. The report offers market size and forecasts in terms of value (USD) and volume (metric tons) for all the above segments.
| Type (Production Analysis by Volume, Consumption Analysis by Volume and Value, Import Analysis by Volume and Value, Export Analysis by Volume and Value, and Price Trend Analysis) | |
| Food Crops/Cereals | |
| Fruits | |
| Vegetables | |
| Oilseeds and Pulses |
Agriculture Market In Saudi Arabia Size Summary
The agriculture market in Saudi Arabia is poised for significant growth, driven by strategic government initiatives aimed at enhancing food security and adopting advanced farming technologies. The country's focus on greenhouse production and high-tech farming practices has positioned it as a leading agricultural market within the GCC region. The government's substantial investment in water projects underscores its commitment to developing the sector and reducing reliance on food imports. Fruits, particularly dates, dominate the agricultural landscape, benefiting from the favorable climatic conditions that support high-volume cultivation. This has not only bolstered domestic production but also expanded export opportunities, with Saudi Arabia leading globally in date exports.
Despite achieving self-sufficiency in certain commodities like dates, eggs, and milk, Saudi Arabia still relies heavily on imports for other essential food products, such as tomatoes and various fruits and vegetables. This dependency highlights the ongoing need for agricultural development to align with the national strategic objective of food security, as outlined in Saudi Vision 2030. The government's efforts to increase domestic food crop production and expand the area under cultivation are crucial in minimizing import dependency. As a result, the agriculture market is expected to experience robust growth, supported by financial assistance and infrastructure projects aimed at achieving greater self-sufficiency and enhancing food security.
Agriculture Market In Saudi Arabia Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Food Security Concerns
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1.2.2 Inclination Toward a Healthy Lifestyle
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1.3 Market Restraints
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1.3.1 Unfavorable Climatic Conditions
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1.3.2 Higher Market Entry Cost
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2. MARKET SEGMENTATION
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2.1 Type (Production Analysis by Volume, Consumption Analysis by Volume and Value, Import Analysis by Volume and Value, Export Analysis by Volume and Value, and Price Trend Analysis)
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2.1.1 Food Crops/Cereals
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2.1.2 Fruits
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2.1.3 Vegetables
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2.1.4 Oilseeds and Pulses
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Agriculture Market In Saudi Arabia Market Size FAQs
How big is the Agriculture Market In Saudi Arabia Market?
The Agriculture Market In Saudi Arabia Market size is expected to reach USD 18.77 billion in 2024 and grow at a CAGR of 5.20% to reach USD 24.14 billion by 2029.
What is the current Agriculture Market In Saudi Arabia Market size?
In 2024, the Agriculture Market In Saudi Arabia Market size is expected to reach USD 18.77 billion.
