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Saudi retail sales to hit $97bn by 2013

Riyadh, April 25, 2010

Saudi Arabia’s retail sales are projected to hit $97 billion by 2013, and food and grocery in particular, are expected to account for almost half of total annual retail value, according to a leading agricultural company.

Saudi Arabia is the largest and fastest growing food market in the GCC region, fueled by its robust economy as well as several socio-demographic factors such as rising disposable income, a youthful population, and an expanding consumer base driven by more active women spenders, said Al Watania Agricultural Company, the first ISO 9001 Quality Management-certified agricultural company in the Middle East.

One segment that is gaining greater popularity is organic food due to increased consumer concerns over health and safety, and Al Watania plans to capitalise on this trend by enhancing its presence within the Saudi food market. Al Watania recently signed an agreement with French international hypermarket chain Carrefour to set up Al Watania stands at its local branches as part of a series of expansion initiatives across the kingdom.

“We have been observing a very noticeable shift towards healthier lifestyles such as eating more nutritional foods, which is reflected by the increase in sales of our organic products. We intend to leverage the country’s strong retail market and increased interest in health foods to further strengthen our domestic presence,” said Ibrahim Aboabat, general manager, Al Watania Agricultural Company.

Founded in 1982, Al Watania has emerged as one of the largest agricultural companies in the Middle East. It was the first agricultural firm in the region to produce all-natural fruits and vegetables and is endorsed by EcoCert, an organic certification organisation which conducts inspections in over 80 countries.

Al Watania’s products include specialised organic food; fruits and vegetables; dairy, meat and processed products; seeds; and fodder.-TradeArabia News Service

Tags: Saudi Arabia | organic food | Al Watania Agricultural Company |

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