Saudi Arabia Aquaculture Market Demand, Size, Scope, Business SWOT Analysis and Forecast 2023-2028

IMARC Group has recently released a new research study 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.

How big is the Saudi Arabia aquaculture market?

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.

Download a free sample report to get a detailed overview of the market: https://www.imarcgroup.com/saudi-arabia-aquaculture-market/requestsample

Market Trends:

The escalating demand for seafood and the inflating income levels of individuals are primarily augmenting the Saudi Arabia aquaculture market. Furthermore, the growing need for fish oil across numerous sectors, including food and beverage (F&B), pharmaceuticals, nutraceuticals, etc., is stimulating the market growth. Apart from this, the rising awareness among fish breeders towards the benefits of adopting efficient aquaculture practices to gain control over the quality of water and maintain overall biological productivity is acting as another significant growth-inducing factor.

Moreover, the introduction of technologically advanced equipment to monitor the water, analyze fish behavior, and manage facility logistics is also bolstering the market growth across the country. Besides this, the extensive R&D activities, such as continuous genetic improvements in the species of finfish, controlling fish reproduction, manipulation of chromosomes, and monitoring of parasitic diseases in aquatic animals in offshore and open oceans, are expected to fuel the Saudi Arabia aquaculture market 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.

Saudi Arabia Aquaculture Key Companies: 

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

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

Breakup by Environment:

• Marine Water
• Fresh Water
• Brackish Water

Breakup by Distribution Channel:

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

Speak to Analyst: https://www.imarcgroup.com/request?type=report&id=1691&flag=C

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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Website: https://www.imarcgroup.com

About Us                                    

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.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

This release was published on openPR.