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 % |
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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 agricultural market in Saudi Arabia is one of the largest in the GCC region and is projected to see significant growth in the coming years. This growth is driven by several factors including government initiatives to address food security concerns, a shift towards greenhouse production, and a rising demand for organic food products. Additionally, the Saudi Arabian government provides subsidies and interest-free loans to producers, invests in land distribution and reclamation programs, and funds research projects to boost agricultural productivity. For instance, there has been a considerable increase in tomato production due to the adoption of greenhouse farming. The agricultural market in Saudi Arabia is also influenced by trends such as increasing food security concerns and the expanding export of dates. Food security has been a national strategic objective for many years and is part of the Saudi Vision 2030. This focus has boosted the domestic production of food crops, primarily by increasing the per capita area under production to minimize import dependency. On the other hand, dates are a significant economic crop in Saudi Arabia, with the country's favorable climate making it feasible to cultivate dates at a higher volume. This has increased the scope for export opportunities, driving market growth. Despite challenges such as non-fertile desert terrains and lack of natural water bodies, the country has achieved self-sufficiency in date production.
Explore MoreAgriculture 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.
