Saudi Arabia Aquaculture Market Size, Share, Growth, Future Trends, Value and Research Report 2023-2028 | National Aquaculture Group (NAQUA), Saudi Fisheries Company (SFC), Asmak Holdings and More

According to the latest report by IMARC Group, titled "Saudi Arabia Aquaculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.

Current Status of Aquaculture in the Saudi Arabia:

The Saudi Arabia aquaculture market reached a production volume of 397,800 Tons in 2022. Looking forward, IMARC Group expects the market to reach 631,300 Tons by 2028, exhibiting a growth rate (CAGR) of 7.9% during 2023-2028.

Market Outlook:

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.

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Trends in Aquaculture:

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 2023-2028 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.

List of Aquaculture Key Companies Covered in this Market Report:

• National Aquaculture Group (NAQUA)
• Saudi Fisheries Company (SFC)
• Asmak Holdings
• Jazan Energy, and Development Company (Jazadco),
• Arabian Shrimp Company
• Tabuk Fisheries Company

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Key Market Segmentation:

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

Based on 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.

Based on Environment:

• Marine Water
• Fresh Water
• Brackish Water

On the basis of the environment, marine water currently holds the majority of the overall market share. Other major segments include fresh and brackish water.

Based on Distribution Channel:

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

The market has been classified based on the distribution channel into traditional retail, supermarkets and hypermarkets, convenience stores, online and others. Amongst these, traditional retail dominates the market, holding the largest market share.

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Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

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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