Agriculture Market In Saudi Arabia Market Size

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.