Food and Agriculture
Achieve a Sustainable Domestic Food Production System, Diversify External Food Supply Sources, and Ensure Food Security Resilience
The global packaged food market is a SAR ~9 trillion1 growing market with shifting trends. The initiative aims to stimulate the growth of the food and agricultural sector in Saudi Arabia, cementing Saudi Arabia’s position as a hub for the Halal industry and distribution center to the world, leveraging existing and new partnerships with leading players in different industries.
Opportunities
- Saudi Arabia is the second largest global packaged food market within MENA (~SAR 74Bn), growing at 5% per annum , driven by a young and increasingly active population, more economical private labels, and healthier product offerings
- Certain growing methods such as aquaculture, water-efficient agriculture technologies (hydroponics), or alternative proteins are growing, benefiting from consumer trends
- Specific growing methods (for example, NIDLP has a production target of 600k tons3 through aquaculture by 2030)
Portfolio companies in this sector
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Progress
Outcomes through supporting portfolio companies in achieving their business objectives by
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SALIC acquired 180 million shares of the Brazilian company (BRF), a global leader in the poultry sector, won a tender for General Food Security Authority (GFSA) first batch of 2023 to supply 355,000 tons of wheat, acquired 42.4% of National Aquaculture Group (NAQUA), and raised its stake in the National Agricultural Development Company (NADEC) from 32.46% to 38.65%.
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Saudi Coffee Company unveiled its Jazean specialty coffee brand, launched its first retail pop-up store, signed an MoU for farming with the Jazan Mountains Development Authority, and signed an investment contract for a second model farm, 2.1 million square meters in Jazan.
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PIF announced the Sawani Company to grow the Saudi camel farming industry and actively contribute to its sustainable development.
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PIF announced Al Madinah Heritage Company to develop and enhance
the production of Saudi Ajwa Dates. The new company will play a key role in improving the quality and production capacity of Ajwa dates in the Madinah region. -
Halal Products Development Company (HPDC) signed a strategic partnership with Halal Development Corporation Berhad to amplify the Halal industry’s growth within Saudi Arabia and globally.
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Halal Products Development Company (HPDC) forged a strategic partnership with U.S.-based Eat Just Inc., a pioneer in innovative food products, to help Eat Just obtain the certification and approvals needed to operate as a Halal food distributor.
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10 December 2024 The PIF Effect: Pioneering investments send ripples of real impact through Saudi Arabia and the worldPIF News Network -
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