Nestle S.A., Unilever plc, Ajinomoto Co. Inc, Riyadh Food Pvt. Ltd., and Al alali, among others, are the major players in the Saudi Arabia bouillon and stock cubes market.
The Saudi Arabia bouillon and stock cubes market stood at a value of about USD 97.7 million in 2020. It is expected to grow at a CAGR of 4.4% during 2021-2026, reaching a value of about USD 127 million by 2026. As per the analysis by Expert Market Research, the market is anticipated to be driven by the increasing demand for convenience food and the rising health consciousness among consumers.
The outbreak of the Covid-19 pandemic has had a significant impact on consumer behaviour and their eating habits. The consumers are becoming more aware of the food ingredients and calorie intake and are preferring a balanced diet. Due to the pandemic, home-cooked meals have become a necessity due to the safety concerns of eating out, which, in turn, is driving the demand for easy to use and cost-effective food products like bouillon and stock cubes. Moreover, the growing innovations and the launch of bouillon and stock cubes in ethnic flavours to target the customers are further enhancing their demand in the region. These are some of the factors responsible for the growth of the bouillon and stock cubes industry in Saudi Arabia.
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The major players in the bouillon and stock cubes industry include Nestle S.A. and Unilever plc. These companies are coming up with innovative ideas and launches to target the potential customers. For instance, Knorr, a daughter company of Unilever, has pledged to support consumers in restricting their salt intake to 5g per day by 2022, which is the daily intake recommended by WHO. For this, the brand has launched the Knorr Zero Salt Bouillon cube initiative, which is one of the many steps taken by the company to achieve this goal. The cubes are formulated to help build a rich flavour in food, with zero salt, thus, setting the standard for salt-free stock.
Headquarters: Vevey, Switzerland
Nestle S.A. is a Swiss multinational food and drinks producing conglomerate corporation. It is the largest food supply company globally measured by revenue, with a total workforce of 270,000 employees. It owns over 2000 brands worldwide. The company recorded CHF 84.3 billion in sales in 2020.
Headquarters: London, United Kingdom
Unilever, a multinational corporation, manufactures and markets consumer products in four segments: personal care, food, beverage, and home care. It is one of the world’s largest consumer goods companies. With a total workforce of 155,000, the company owns 400 domestic brands in more than 190 countries worldwide. The company had annual sales of approximately $ 50 billion in 2018.
Headquarters: Tokyo, Japan
Ajinomoto Co., Inc. is a Japanese meal and biotechnology business enterprise that produces seasonings, interlayer insulating substances for semiconductor programs in non-public computers, cooking oils, frozen foods, beverage, sweeteners, and amino acids, and pharmaceuticals. The company has been doing their operations in more than 131 countries with a total workforce of around 32500 employees. The company had sales of approximately 1,100 billion yen in FY2019.
Headquarters: Riyadh, Saudi Arabia
Riyadh Food Pvt. Ltd. is a company experienced in the field of foodstuff trading and marketing. It was the first vanilla and baking soda manufacturer in the gulf, which gives it a competitive advantage over other companies in Saudi Arabia. It has over 150 domestic products, which are marketed through 15 branches in the Kingdom and exported to 30 countries across the world.
Headquarters: Jeddah, Mecca Province, Saudi Arabia
Al alali has a story of rapid growth and success. After launching with a handful of products, it now provides more than 250 products across the Middle East region in countries like Saudi Arabia, UAE, Bahrain, Kuwait, Oman, and others. It has become one of the most trusted brands in the Middle East, as ranked by Forbes Arabia in 2008. The company has a total of approximately 1000 employees.
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