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 industry, which comprises insights into the Saudi Arabia seafood industry research. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The Saudi Arabia seafood market is projected to exhibit a growth rate (CAGR) of 2.18% during 2024-2032.
Saudi Arabia Seafood Market Overview:
Seafood encompasses a broad range of marine and freshwater organisms that are consumed globally as a key component of dietary nutrition. This category primarily includes fish, crustaceans such as shrimp and crabs, mollusks like clams, oysters, squids, and other edible aquatic animals. It is acclaimed for its rich protein content, omega-3 fatty acids, and essential vitamins and minerals, contributing significantly to balanced nutrition. The versatility of seafood, evident in its culinary adaptability and varying preparation methods, enhances its global appeal.
Additionally, it is a sustainable resource when harvested responsibly, offering an eco-friendly protein alternative compared to some land-based meats. Its advantages extend to the economic sector as well, where it supports fishing industries and provides livelihoods for communities.
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Saudi Arabia Seafood Market Trends:
In Saudi Arabia, the market is undergoing considerable growth, influenced by the country's extensive coastline along the Red Sea, and the Arabian Gulf provides ample opportunities for both wild capture and aquaculture. Along with this, dietary shifts towards healthier eating habits among the Saudi population are increasing the demand for seafood, recognized for its nutritional benefits. In addition, government initiatives aimed at diversifying the economy away from oil are leading to investments in the fishing sector and aquaculture developments, further stimulating market growth. Moreover, technological advancements in seafood processing and preservation are enhancing product quality and shelf life, thereby increasing its attractiveness to consumers.
Apart from this, the growing hospitality and food service sectors, buoyed by the kingdom's focus on tourism and entertainment, are creating additional demand for diverse seafood products. The market is also witnessing a trend towards sustainable and environmentally responsible fishing practices, aligning with global sustainability goals. These drivers, combined with the increasing import of exotic seafood varieties, are creating a positive market outlook.
Competitive Landscape:
- Almunajem Foods
- Arab Fisheries Co.
- IZAFCO LLC
- National Aquaculture Group
- Shell Fisheries Company W.L.L.
Saudi Arabia Seafood Market 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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