Saudi Arabia Aquaculture Market Expanding at a CAGR of 8% during 2022-2027, Bolstered by Increasing Seafood Consumption

According to the latest report by IMARC Group, titled "Saudi Arabia Aquaculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the Saudi Arabia aquaculture market reached a production volume of 368,020 Tons in 2021. Looking forward, IMARC Group expects the market to reach 586,600 Tons by 2027, exhibiting a CAGR of 8% during 2022-2027.

Aquaculture is the process of breeding, cultivating, and harvesting aquatic organisms. It is a controlled process of farming in water, especially for human consumption. Aquaculture can be done in coastal ocean water, freshwater ponds, rivers, farming land, and tanks. In Saudi Arabia, aquaculture activities have increased due to the high consumption of seafood in the country. Saudi Arabia is also home to a wide range of fish and other marine species with a 2,600 km long coastline strategically located by the Red sea that is suitable for aquaculture development.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Market Trends:

The Saudi Arabia aquaculture market is primarily driven by the increasing awareness regarding the nutritional value of seafood. It is a rich source of proteins, fatty acids, vitamins, minerals, and other essential micronutrients. The rising per capita incomes, changing lifestyles, and growing demand for high-quality protein-rich food in the country are propelling the market growth. Moreover, the Government is undertaking several initiatives to increase domestic production and promote sustainable aquaculture practices that are eco-friendly, socially accepted and technically viable. Furthermore, there have been strong advancements in the aquaculture industry catalyzed by favorable environmental conditions across the country. These factors are expected to positively impact the market growth in the coming years.

Saudi Arabia Aquaculture Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the Saudi Arabia aquaculture market has been studied in the report with the detailed profiles of the key players operating in the market.

Key Market Segmentation:

The report has segmented the Saudi Arabia aquaculture market on the basis of fish type, environment, and distribution channel.

Breakup by Fish Type:

• Production
• Consumption

The market has been segmented into production and consumption based on the fish type. At present, crustaceans represent the most popular type of fish produced in Saudi Arabia, whereas Pelagic fish is the most widely consumed product.

Breakup by Environment:

• Marine Water
• Fresh Water
• Brackish Water

Breakup by Distribution Channel:

• Traditional Retail
• Supermarkets and Hypermarkets
• Convenience stores
• Online
• Others

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Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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