View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
  1. News
June 16, 2022

Saudi Arabia’s Almarai to enter seafood category in food security move

An initial investment of SAR252m (US$67.2m) has been put aside for the initiative.

By Andy Coyne

Saudi Arabia food and beverage manufacturer Almarai is planning a move into the seafood category as a further measure to shore up food security in the Kingdom.

Free Report
img

How is technology having an impact on Consumer buying behavior?

As the world rapidly becomes more connected, it is important for brands to understand the impact that improved technology is having on consumer purchasing behaviors. To react effectively, brands must know how to engage with increasingly digitally savvy consumers. GlobalData’s latest Trend Tracker report provides an analysis of Digital Lifestyles – one of GlobalData's top consumer trends for 2022. The report includes an overview of how digital lifestyles are evolving, including the significant impact that the COVID-19 pandemic had on accelerating digitalization, and how this trend is emerging across different Consumer sectors. Key features included in the report:
  • A breakdown of the trend’s prominence across sectors
  • Insights into consumer online penetration, preferred electronic devices and engagement
  • The key drivers and challenges impacting the digital lifestyles trend
  • A spotlight on key innovations set to reshape the consumer landscape
  • Analysis of what’s next for digital innovations and how brands can leverage the trend
Download this report to keep in touch with the more digital consumer.
by GlobalData
Enter your details here to receive your free Report.

The initiative will entail establishing new facilities for processing seafood and producing seafood-based products.

The Riyadh-based company’s board approved the move on Monday (13 June) and an initial investment of SAR252m (US$67.2m) has been put aside for the move.

Abdullah bin Nasser Al-Badr, Almarai’s CEO, said: “The company [being] in this new sector will expand Almarai’s product offering and contribute to the food security plan.”

Under its Vision 2030 plan, Saudi Arabia is keen to improve its food security in the wake of Covid-19 and Russia’s invasion of Ukraine to ensure the sustainability of critical resources through more domestic production of food.

Almarai’s linked food security plan was first revealed last May when it announced plans to double its poultry processing capacity in its domestic market over three phases up to 2026 with the intention of increasing its market share of the chilled and frozen chicken categories.

In December last year, it announced the approval of an investment plan in the red meat sector.

Alongside its seafood announcement, Almarai also said it has won approval from its board to expand its poultry and egg production operations. Some SAR153m will be invested into a programme to secure parent poultry birds supplies for the domestic market.

Al-Badr said: “The investment in parent poultry birds will allow Almarai to mitigate an imminent risk of a supply shortage of parent stock in the Kingdom, and, once further investments are deployed, to secure additional parent stock supply.”

Related Companies

Free Report
img

How is technology having an impact on Consumer buying behavior?

As the world rapidly becomes more connected, it is important for brands to understand the impact that improved technology is having on consumer purchasing behaviors. To react effectively, brands must know how to engage with increasingly digitally savvy consumers. GlobalData’s latest Trend Tracker report provides an analysis of Digital Lifestyles – one of GlobalData's top consumer trends for 2022. The report includes an overview of how digital lifestyles are evolving, including the significant impact that the COVID-19 pandemic had on accelerating digitalization, and how this trend is emerging across different Consumer sectors. Key features included in the report:
  • A breakdown of the trend’s prominence across sectors
  • Insights into consumer online penetration, preferred electronic devices and engagement
  • The key drivers and challenges impacting the digital lifestyles trend
  • A spotlight on key innovations set to reshape the consumer landscape
  • Analysis of what’s next for digital innovations and how brands can leverage the trend
Download this report to keep in touch with the more digital consumer.
by GlobalData
Enter your details here to receive your free Report.

Topics in this article:
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food