(MENAFN- IMARC Group)
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 industry, which comprises insights into the Saudi Arabia seafood market share . The report also includes competitor and regional analysis, and contemporary advancements in the market.
The Saudi Arabia seafood market is projected to exhibit a growth rate
(CAGR) of
2.18%
during
2024-2032.
Saudi Arabia Seafood Market Overview:
Seafood refers to any form of edible marine life consumed by humans, encompassing a diverse range of aquatic organisms. This category includes fish such as salmon, tuna, and cod, as well as shellfish like shrimp, crab, and lobster. Mollusks such as clams, mussels, and oysters also fall under the seafood umbrella. Generally, seafood is valued for its high nutritional content, particularly omega-3 fatty acids, vitamins, and minerals.
Consumed worldwide, seafood plays a crucial role in various cuisines, providing a rich source of protein and contributing to cultural and economic aspects in many coastal regions. The methods of seafood preparation can range from simple grilling to intricate culinary techniques, showcasing its versatility in global culinary practices.
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Saudi Arabia Seafood Market Trends:
The market in Saudi Arabia is majorly driven by changing dietary preferences and increasing awareness of the health benefits associated with seafood consumption. As part of a broader shift towards healthier lifestyles, consumers are recognizing the nutritional value of seafood, rich in omega-3 fatty acids, vitamins, and minerals. Furthermore, government initiatives supporting the fisheries and aquaculture sector play a pivotal role. Saudi Arabia is investing in domestic aquaculture projects to enhance self-sufficiency and reduce dependence on seafood imports. These initiatives contribute to the overall growth of the seafood market by ensuring a more reliable and diverse seafood supply. Moreover, rising disposable incomes and an expanding middle class are fueling demand for premium seafood products.
Consumers are increasingly willing to explore a variety of seafood options, leading to a surge in both domestic and international seafood offerings in the market. Besides, the country's geographical location with an extensive coastline provides a natural advantage for the seafood industry. Efforts to modernize and improve fishing techniques contribute to the sustainability of seafood resources and support the market's growth. Saudi Arabia's growing tourism industry also plays a role as international visitors contribute to the demand for diverse and high-quality seafood options. Additionally, the popularity of seafood in traditional Saudi Arabian cuisine further boosts its market presence.
Competitive Landscape:
Almunajem Foods Arab Fisheries Co. IZAFCO LLC National Aquaculture Group Shell Fisheries Company W.L.L.
Saudi Arabia Seafood Market Segmentation:
Type Insights:
Form Insights:
Fresh / Chilled Frozen / Canned Processed
Distribution Channel Insights:
Off-Trade Convenience Stores Online Channel Supermarkets and Hypermarkets 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) 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.
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.
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