Saudi Arabia Seafood Market Share, Size, Growth, Trends, and Report 2024-2032

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 market. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.

The Saudi Arabia seafood market size reached US$ 1.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 1.25 Billion by 2032, exhibiting a growth rate (CAGR) of 2.18% during 2024-2032.

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Saudi Arabia Seafood Market Trends:

The Saudi Arabia seafood market is primarily driven by the increasing health consciousness among consumers and the rising demand for high-protein diets. In line with this, the growth of aquaculture and fish farming activities is also providing an impetus to the market. Moreover, the considerable rise in disposable incomes and changing dietary preferences towards seafood is also acting as a significant growth-inducing factor for the market.

In addition to this, the expanding food service industry, including restaurants and hotels offering seafood dishes, is resulting in higher consumption rates. Besides this, the growing awareness about the health benefits of seafood, such as its rich omega-3 fatty acid content, is creating lucrative opportunities in the market. Also, the increasing influence of culinary tourism and the popularity of diverse seafood cuisines are impacting the market positively. The market is further driven by the implementation of sustainable fishing practices and regulatory measures ensuring quality and safety standards.

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/saudi-arabia-seafood-market

Saudi Arabia Seafood Market Scope & Growth Analysis:

The scope of the Saudi Arabia seafood market is expanding as the country focuses on achieving food security and self-sufficiency in seafood production. In line with this, the development of new aquaculture projects and the adoption of advanced fish farming technologies are enhancing market scope. Additionally, the integration of value-added seafood products and ready-to-eat meals is broadening the market's appeal. The increasing investments in cold chain logistics and infrastructure for seafood storage and distribution are contributing to market scope as per the market analysis.
Furthermore, the expansion of seafood exports to neighboring countries and international markets is diversifying the product range available to consumers. The market scope is also widening with the rise of private sector investments in seafood production and processing facilities.

Moreover, the growing emphasis on sustainable and eco-friendly aquaculture practices is facilitating market growth. Other factors influencing market scope include the development of seafood certification programs, strategic partnerships for technology transfer, and government initiatives to support the fisheries and aquaculture sector.

Saudi Arabia Seafood Market Segmentation:

Breakup by Type:

• Fish
• Shrimp
• Others

Breakup by Form:

• Fresh / Chilled
• Frozen / Canned
• Processed

Breakup by Distribution Channel:

• Off-Trade
o Convenience Stores
o Online Channel
o Supermarkets and Hypermarkets
o Others
• On-Trade

Breakup by Region:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players.

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.

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This release was published on openPR.