Saudi Arabia Seafood Market Size, Trends, Growth, Opportunity and Forecast 2024-2032

IMARC Group's latest report, titled "Saudi Arabia Seafood Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032", Saudi Arabia seafood market is projected to exhibit a growth rate (CAGR) of 2.18% during 2024-2032.

Seafood Trends and Uses :

Seafood is a broad category of edible aquatic animals, primarily including fish, crustaceans, and mollusks. This food group is a rich source of protein, omega-3 fatty acids, and essential vitamins and minerals, thus offering numerous health benefits such as improved heart health and brain function. The market features a wide variety of product types, ranging from fresh and frozen to canned and processed seafood items. In business terms, seafood represents a versatile and profitable commodity that caters to diverse consumer preferences. It plays a key role in both local cuisines and international trade. Additionally, it is increasingly seen as a sustainable alternative to meat-based proteins, owing to its lower carbon footprint and quicker reproductive cycles. From a business standpoint, the advantages of trading in seafood include its high yield per production cycle and the growing consumer awareness of its health benefits, both of which contribute to strong market demand.

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Competitive Landscape with key Players:

• Almunajem Foods
• Arab Fisheries Co.
• IZAFCO LLC
• National Aquaculture Group
• Shell Fisheries Company W.L.L.

Saudi Arabia Seafood Market Growth and Demand:

The seafood market in Saudi Arabia is majorly driven by the rising consumer awareness about the health benefits associated with seafood consumption. Along with this, the Saudi Arabian government's plan also aims to diversify the economy by focusing on sectors other than oil, offering incentives for agricultural and food-related industries, including seafood. In addition, technological advancements in aquaculture and fishing techniques are enabling more efficient and sustainable production. This meets the growing domestic demand and even allows for exports, contributing to economic diversification. Moreover, trends in quick-service seafood restaurants and ready-to-cook seafood products are capturing the young and busy urban population, who are leaning toward convenient yet healthy food options. Therefore, this is significantly supporting the market. Apart from this, the country's geographical location with an extensive coastline provides a natural advantage for the seafood industry. Furthermore, the emerging focus on sustainable practices, traceability, and certification, as consumers become increasingly concerned about environmental issues, is creating a positive market outlook.

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Key Market Segmentation:

Type Insights:

• Fish
• Shrimp
• Others

Form Insights:

• Fresh / Chilled
• Frozen / Canned
• Processed

Distribution Channel Insights:

• Off-Trade
o Convenience Stores
o Online Channel
o Supermarkets and Hypermarkets
o 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)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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