Saudi Arabia Fish and Seafood Market (2020-2026) | Size, Share, Growth, Revenue, Forecast, industry, Analysis, Outlook & COVID-19 IMPACT

Latest 2023 Development of the Saudi Arabia Fish and Seafood Market

Saudi Arabia Fish and Seafood Market is one of the largest growing markets. Some of the latest developments in the market are growth in aquaculture production to reduce the country's dependence on imported seafood. There has been a growing demand for sustainably sourced seafood in Saudi Arabia, as consumers become more conscious about the environmental impact of their food choices. Investment in seafood processing facilities by several companies to support the growth of the seafood industry in Saudi Arabia is another major development in this market.

The government has been implementing measures to improve food safety and traceability in the seafood industry. There is a growing awareness among consumers about the health benefits of fish and seafood, which are rich sources of protein, omega-3 fatty acids, and other essential nutrients. This has led to the swashbuckling growth of the fish and seafood market in Saudi Arabia. The population of Saudi Arabia is increasing, which is driving demand for food products. Additionally, the country has a young population that is increasingly adopting healthy lifestyles, which includes higher consumption of fish and seafood. Furthermore, the growing investment in the tourism industry is expected to increase the demand for fish and seafood products in the country. 

Saudi Arabia Fish and Seafood Market Synopsis

Saudi Arabia Fish and Seafood market report is a part of the Middle East Fish and Seafood Market report that thoroughly covers the market by product type, retail market, sales channel, and region. The Saudi Arabia Fish and Seafood market outlook report provides an unbiased and detailed analysis of the ongoing Saudi Arabia Fish and Seafood market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Saudi Arabia Fish and Seafood Market is expected to register rapid growth over the coming years. The Kingdom of Saudi Arabia has a long history in aquaculture since the first shrimp farms were developed across the red seacoast during the 1980s. In recent years, strong advancements have been made in the aquaculture industry catalyzed by the red sea’s favourable environmental conditions as well as technological advancements. The growth is backed by government support and initiatives to raise domestic production.

According to 6Wresearch, Saudi Arabia Fish and Seafood Market size is anticipated to register growth during 2020-2026F. The market is projected to record positive growth during 2021-2026 going forward as seafood is consumed by the majority of the population in Saudi Arabia. High consumption of seafood in the country is attributed to various factors such as rising per capita income, changing lifestyles, and increasing demand for high-quality protein-rich food. Additionally, the favourable environmental conditions in the country coupled with the adoption of healthy eating is accelerating the demand for fish and seafood in Saudi Arabia. The government of the country has also introduced the plan “vision 2030” aiming at building safe and strategic food. 

The surging population coupled with a growing focus on local consumption is enhancing Saudi Arabia Fish and Seafood Market. Growing advancement in technology coupled with increasing urbanization is adding to the development of the market. Increasing demand for fisheries in the country diversification of the economy into different sectors. 

Market Analysis by Sales Channel

By sales channel, the retail segment is dominating the market due to the increasing preference of people for shopping food products from stores rather than online portals. In addition, fresh seafood available in supermarkets and hypermarkets is expected to supplement the growth of the retail segment in the near future.

Covid 19 impact on Saudi Arabia Fish and Seafood Market

The outburst of the coronavirus pandemic has declined the development of the market owing to nationwide restrictions imposed by the government of country. Partial or complete lockdown led to disruption in the supply chain. Moreover, only essential movement of goods and people was allowed. The demand for frozen fish and seafood experienced a surge owing to increasing penetration towards health and hygiene. The market is expected to regain its growth during the upcoming years owing to the removal of all the restrictions. 

Key players in the Market

Some of the key players in Saudi Arabia Fish and Seafood Market are:

• Sea Land Seafood Trading Co.
• Arab Fisheries Co
• Al Faisal Fisheries Co
• National Aquaculture Group
• Rubban Fisheries Trading Company

 

Key Highlights of the Report:

• Saudi Arabia Fish and Seafood Market Overview
• Saudi Arabia Fish and Seafood Market Outlook
• Saudi Arabia Fish and Seafood Market Forecast
• Historical Data of Saudi Arabia Fish and Seafood Market Revenues for the Period 2016-2019
• Saudi Arabia Fish and Seafood Market Size and Saudi Arabia Fish and Seafood Market Forecast of Revenues, Until 2026
• Historical Data of Saudi Arabia Fish and Seafood Market Revenues, By Product Type, for the Period 2016-2019
• Market Size & Forecast of Saudi Arabia Fish and Seafood Market Revenues, By Product Type, Until 2026
• Historical Data of Saudi Arabia Fish and Seafood Market Revenues, By Retail Market, for the Period 2016-2019
• Market Size & Forecast of Saudi Arabia Fish and Seafood Market Revenues, By Retail Market, Until 2026
• Historical Data of Saudi Arabia Fish and Seafood Market Revenues, By Sales Channels, for the Period 2016-2019
• Market Size & Forecast of Saudi Arabia Fish and Seafood Market Revenues, By Sales Channels, Until 2026
• Historical Data of Saudi Arabia Fish and Seafood Market Revenues, By Regions, for the Period 2016-2019
• Market Size & Forecast of Saudi Arabia Fish and Seafood Market Revenues, By Region, Until 2026
• Market Drivers and Restraints
• Saudi Arabia Fish and Seafood Market Trends
• Saudi Arabia Fish and Seafood Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Saudi Arabia Fish and Seafood Market Share, By Players
• Saudi Arabia Fish and Seafood Market Share, By Regions
• Saudi Arabia Fish and Seafood Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Saudi Arabia Fish and Seafood Market report provides a detailed analysis of the following market segments:

By Product Types:

• Fish
• Crustaceans
• Mollusks
• Others

By Retail Market:

• Ambient
• Frozen
• Chilled

By Sales Channel:

• Retail
• Foodservice
• Institutional