The Saudi Arabia Full-Service Restaurants Market is projected to register a CAGR of 13.14% during the study period (2020-2025).
- The country’s consumers, including the high number of expats and tourists, are tilted toward western-style casual dining, especially the European and US cuisines. Consequently, the American casual dining restaurants, such as Chili’s, Fuddruckers, TGI Fridays, Applebee’s, Sizzler, and On The Boarder, are very popular and located in all the major cities of Saudi Arabia.?Independent full-service channels maintain a dominant position in the full-service restaurant segment, as they provide dine-in restaurant services with an extensive menu.? - During Ramadan, to attract consumers, full-service restaurants, including Hyatt Regency Tent and The Ritz-Carlton Residences, are trying to compete with local restaurants to provide a better culinary experience. This initiative by the players of the market has increased the sales growth during the festive season in the country.
Key Market Trends Increasing Demand for Gourmet Dinning Experience
Celebrity chef culture seems to be everywhere these days. People are obsessed with big-name restaurants and world-class luxury dining, and Saudi Arabia is no exception. The high levels of disposable income which prevail among the Saudi population, coupled with the harsh climatic conditions in the country and the relatively limited range of other pastimes and leisure activities make eating out and shopping the entertainment of choice for a large segment of the Saudi population. Full-service restaurants benefits strongly from this, especially as outlets in the channel have become the preferred destination for families spending time together, holding social gatherings. The United States continues to hold a significant share of the Saudi Arabia chained full service restaurants market and it has maintained its dominance of western style fine as well casual dining market. The US fine dining restaurants, such as Chili’s, Fuddruckers, TGI Fridays, Applebee’s, Sizzler, and On The Boarder, are very popular and located in all major Saudi Arabia cities.
Expansion of Various Regional and Global Full-Service Restaurants
With Saudi Arabia welcoming a tourist market, a growing expat community, and imported western culture, it should not come as any surprise that it is also cultivating a huge fine dining scene serving up phenomenal gastronomic experiences. From Mediterranean feasts to jeweled dishes from the Far East, the country has award winning restaurants to curb all the culinary cravings of consumers under different demographics.Furthermore, the market studied unveiled a raft of major tourism initiatives. Thus, this proves that Saudi Arabia is moving toward becoming a world-class global tourism hub, backed by competitive advantages that attract international travellers looking for new experiences. Thus, this creates a huge opportunity for full-service restaurants in the country, as they provide fine culinary experiences with a good ambience. The premiumization in the dinning experiences has resulted in an increasing number of global premium chained full service restaurants/ pop up restaurants in the country.
Competitive Landscape The Saudi Arabia Full-Service Restaurant market is fragmented with the presence of many domestic brands as well as international brands, where consumers have shown an inclination towards western based food in the recent past.Al Faisaliah Group, Dine Brands Global, Inc., TGI Fridays Inc., Brinker International Inc, Yum Brands Inc., are some of the major brands operating in the market studied.
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