Saudi Arabia Fish Market (2023-2029) | Value, Size, Industry, Revenue, Companies, Growth, Forecast, Analysis, COVID-19 IMPACT, Share & Trends

Saudi Arabia Fish Market Highlights

Report Name	Saudi Arabia Fish Market
Base Year	2022
Historical Period	2019-2022
Forecast Period	2023-2029
Growth Rate	3.78%
Report Coverage	Revenues & Volume, Market Trends, Drivers & Challenges, Market Forecast, Market Share
Segment Coverage	By Fish Type, By Product Type, By Distribution Channel, By Sector
Customization Scope	100% customized reports available along with reliable data. Moreover, you can alter the segments, countries, and regions according to your needs. For further details, you can contact our research expert at sales@6wresearch.com
Pricing and Purchase Options	Avail customization purchase option to know the exact pricing of your research needs

Topics Covered in Saudi Arabia Fish Market Report

Saudi Arabia Fish Market Report thoroughly covers the market by type, by product, by distribution, by sector. The outlook report provides an unbiased and detailed analysis of the ongoing 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 Market Synopsis

Saudi Arabia Fish Market is projected to grow as the country has a rich maritime heritage and significant coastal areas, the market plays a vital role in the nation`s food industry. With a preference for seafood in the local diet, the market involves the catch, processing, distribution, and sale of various fish species. Both traditional fishing practices and modern aquaculture contribute to the availability of fish products. The market`s dynamics are influenced by factors such as consumer tastes, environmental considerations, and international trade regulations.

According to 6Wresearch, Saudi Arabia Fish Market size is likely to grow by 3.78% resulting in a market volume of US$12.34bn in during 2023-2029. The market in Saudi Arabia plays a vital role in meeting the country`s seafood consumption needs. With a significant coastal area and a strong cultural inclination towards seafood consumption, the demand for various fish species remains steady. The market is influenced by factors such as local fishing practices, imports, and consumer preferences, and it contributes to the overall food supply chain. The rising awareness of the health benefits associated with fish consumption, such as omega-3 fatty acids, has spurred consumer preferences toward seafood products. The government's initiatives to promote domestic aquaculture and reduce dependency on imports contribute to the market's growth, fostering sustainability and ensuring a consistent supply of fresh fish. There are certain challenges present in the Fish Market in Saudi Arabia . The fish market in Saudi Arabia faces various challenges. One of the primary issues is the sustainability of fishing practices to meet the growing demand for seafood. Overfishing and the depletion of marine resources pose significant challenges to the long-term viability of the fish market. Implementing and enforcing sustainable fishing regulations can be complex. Moreover, the market is sensitive to factors like environmental conditions, pollution, and climate change, which can affect fish populations and catch sizes. Economic conditions and consumer preferences also impact the demand for different types of seafood, making the market susceptible to changing trends. Additionally, ensuring food safety and quality in the fish supply chain is essential but can be challenging, especially for imported seafood. Lastly, competition from global seafood suppliers and the need to differentiate Saudi Arabia seafood products can be a challenge for local fishers and processors and this major factor has led to reduction in Saudi Arabia Fish Market Share.

COVID-19 Impact on the Market

The Saudi Arabia Fish Market was significantly disrupted by the COVID-19 pandemic. Lockdowns and restrictions on movement led to a decrease in consumer footfall at fish markets and restaurants. There has been a major rise in online sales and home cooking and the overall market experienced a contraction due to the pandemic's economic repercussions, including reduced consumer spending and uncertainties in the global seafood trade. Fishermen and suppliers faced challenges in transporting and selling their products. As a result, the market experienced a decline in sales and revenue. The shift towards online and home delivery services helped mitigate some of the losses, but the overall impact was notable. With the easing of restrictions and the gradual return to normalcy, the fish market is expected to recover as consumer confidence returns.

Notable players in the Saudi Arabia Fish Market

These are the notable players in the market who have contributed to Saudi Arabia Fish Market Growth by meeting the country`s seafood consumption needs.

• National Fisheries Development Program (NFDP)
• Arabian Fisheries Company
• Saudi Fisheries Company
• Jeddah Cold Stores Company
• Tabuk Fisheries Company
• Trescorp Alliance
• Arabian Sea Fish Market Company
• Red Sea Fisheries Company
• Delmon Seafood Company
• International Fish Farming Company (Asmak)
• Al-Maraei Seafood Company
• Arabian Marine Products Company (AMPCO)
• Arabian Gulf Seafood Company
• Government Initiatives for the Market

The government has undertaken remarkable initiatives to accelerate Saudi Arabia Fish Industry and enhance domestic seafood output. The National Fisheries Development Program (NFDP) is a notable initiative aimed at promoting sustainable aquaculture and reducing the nation's reliance on seafood imports. Through the NFDP, the government has invested in modernizing and expanding fish farming operations, improving infrastructure, and implementing advanced technologies to increase production efficiency. There is a major focus on developing coastal areas for aquaculture projects in the country which would create employment opportunities for the local people and ensuring food security. These initiatives align with the country vision of economic diversification

Market by Fish type

On the basis of type, the market is segmented into Inland Fishes, Marine Fishes, Shrimps, and Scampi. The marine segment is expected to have a major share of the market due to its popularity and diverse species available in both local and imported varieties.

Market by Product Type

On the basis of product, the market is segmented into Fresh, Frozen, Canned, and Others. The demand for fresh fish is high due to due to consumer preferences for quality and taste. Frozen fish products may see growth due to convenience in their usage and extended shelf life.

Market by Distribution channel

According to  Shivankar, Research Manager, 6Wresearch, the retail distribution channel is expected to grow as it caters to the demand of individual consumers. institutional channels like hotels, restaurants, and catering services may play a key role in supplying seafood to the food service industry.

Market by Sector

Organized sectors with well-established supply chains and distribution networks is expected to dominate the market as they emphasize on quality and safety standards of the product. The unorganized sectors, such as local markets and small vendors, have a notable presence, particularly in certain regions of the country.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Saudi Arabia Fish Market Outlook
• Market Size of Saudi Arabia Fish Market, 2022
• Forecast of Saudi Arabia Fish Market, 2029
• Historical Data and Forecast of Saudi Arabia Fish Revenues & Volume for the Period 2019 - 2029
• Saudi Arabia Fish Market Trend Evolution
• Saudi Arabia Fish Market Drivers and Challenges
• Saudi Arabia Fish Price Trends
• Saudi Arabia Fish Porter's Five Forces
• Saudi Arabia Fish Industry Life Cycle
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Fish Type for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Inland Fishes for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Marine Fishes for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Shrimps for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Scampi for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Product Type for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Fresh for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Frozen for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Canned for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Distribution Channel for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Retail for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Institutional for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Sector for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Organised for the Period 2019 - 2029
• Historical Data and Forecast of Saudi Arabia Fish Market Revenues & Volume By Unorganised for the Period 2019 - 2029
• Saudi Arabia Fish Import Export Trade Statistics
• Market Opportunity Assessment By Fish Type
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By Distribution Channel
• Market Opportunity Assessment By Sector
• Saudi Arabia Fish Top Companies Market Share
• Saudi Arabia Fish Competitive Benchmarking By Technical and Operational Parameters
• Saudi Arabia Fish Company Profiles
• Saudi Arabia Fish Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments

By Fish Type

• Inland Fishes
• Marine Fishes
• Shrimps
• Scampi

By Product Type

• Fresh
• Frozen
• Canned
• Others

By Distribution Chanel

• Retail
• Institutional

By Sector

• Organised
• Unorganised