Canning Industry

 

Canning is one of the most important industries in the field of food. According to the analysis of the statistics of the past years, the market reached about 3.9 billion riyals for the year 2022.

In this article we will learn more about the statistics of this industry and some opportunities. We will also compare domestic manufacturing with import and the extent of the gap between them.

 

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Driven by the increasing demand for canned food in Saudi Arabia, the market is expected to continue its upward consumption trend over the next eight years. Growth is expected to be gradual, with expansion at a CAGR + 5.4% for the period from 2022 to 2030.

The market size is expected to reach 3 million tons by the end of 2030, and in value terms this market is projected to grow at a CAGR of + 7.8% for the period from 2022 to 2030, which is expected to reach a market value of $7 billion (at nominal prices) by the end of 2030.

 

The Kingdom is a material and valuable importer of canned food. In 2022, there was a large trade deficit of 233 thousand tons, equivalent to $ 937 million. This tangible trade deficit reflects the fact that the market is still dependent on imports, which are likely to continue in the medium term.

In 2022, Saudi Arabia’s canned food production fell to 1.8 million tons, roughly reflecting the previous year’s figure. The most prominent growth rate recorded in 2009 was when production volume increased by 58%. Canned food production peaked at 1.8 million tons in 2019.