Saudi Arabia Seafood Market Share Analysis, Report 2024-32 | Industry Growth, Statistics, & Forecast
The latest report by IMARC Group, titled 'Saudi Arabia Seafood Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,' offers a comprehensive analysis of the market. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The Saudi Arabia seafood market size reached US$ 1.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1.25 Billion by 2032, exhibiting a growth rate (CAGR) of 2.18% during 2024-2032.
Saudi Arabia Seafood Market Trends:
The Saudi Arabia seafood market is experiencing robust growth, driven by increasing consumer awareness of the health benefits associated with seafood consumption, such as high protein content and essential omega-3 fatty acids. The government's focus on diversifying the economy under Vision 2030 includes significant investments in the aquaculture sector to enhance domestic seafood production and reduce reliance on imports.
Additionally, rising disposable incomes and changing dietary preferences towards more nutritious and diverse food options are enhancing market demand. The expansion of retail chains and improved cold chain logistics facilitate the wider availability and freshness of seafood products. Moreover, initiatives to promote sustainable fishing practices and the adoption of advanced aquaculture technologies are positively influencing the market landscape.
For an in-depth analysis, you can refer free sample copy of the report: https://www.imarcgroup.com/saudi-arabia-seafood-market/requestsample
Saudi Arabia Seafood Market Scope and Growth Analysis:
The scope of the Saudi Arabia market encompasses a diverse range of products, including fish, crustaceans, and mollusks, catering to various consumer preferences and culinary traditions. The market is poised for significant growth due to the increasing adoption of seafood in both traditional and modern cuisines. The rising popularity of dining out and the expansion of the foodservice industry, including restaurants and hotels, drive the demand for high-quality seafood.
Furthermore, government initiatives to develop and modernize the aquaculture infrastructure, coupled with favorable regulatory frameworks, are supporting market expansion. In addition, the implementation of advanced aquaculture techniques enhances production efficiency and product quality, meeting the growing consumer demand. The market growth is also supported by continuous investments in research and development to improve breeding, feeding, and disease management practices in aquaculture.
By the IMARC Group, the Top Competitive Landscapes Operating in the Industry:
- Almunajem Foods
- Arab Fisheries Co.
- IZAFCO LLC
- National Aquaculture Group
- Shell Fisheries Company W.L.L.
Saudi Arabia Seafood Industry Segmentation:
Type Insights:
- Fish
- Shrimp
- Others
Form Insights:
- Fresh / Chilled
- Frozen / Canned
- Processed
Distribution Channel Insights:
- Off-Trade
- Convenience Stores
- Online Channel
- Supermarkets and Hypermarkets
- Others
- On-Trade
Regional Insights:
- Northern and Central Region
- Western Region
- Eastern Region
- Southern Region
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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