Middle East & Africa Seafood Market Outlook, 2029

Middle East & Africa Seafood Market Outlook, 2029

From the sun-kissed coastlines of Morocco to the hustle of the UAE ports, the seafood market of MEA is an exciting domain where rich cultural heritage intertwines with modern-day demands to concoct flavors and opportunities. Innovation remains the master stroke of the MEA seafood market, with continuous new developments increasing the product offering and its appeal to consumers. Suppose the existing business models had been based on value additions such as pre-marinated seafood, ready-to-eat seafood snacks, and ready-to-cook microwave meal kits. These are changing consumer preferences both for convenience and variety. It is, therefore, technological advancements that will get other innovations based on plant-based seafood and fish meat grown in the lab to cater to health-conscious consumer cohorts and those that are environmentally conscious. These innovations will present more market opportunities, added to creating a marketing or supply chain mechanism for both production technology and consumer demands. Climate change is a factor impacting the MEA seafood market through changes in the marine ecosystem and aquaculture practices. Increased sea temperature and ocean acidification, together with changing marine currents, impact the distribution of fish stocks and the health of species in the aquatic environment. Water quality and the possibility of having a compatible species might cause problems with the aquaculture operations. These requirements necessitate mitigation of the associated impacts through adopting adaptive management practices, investing in climate-resilient aquaculture technologies, and research into food production to suppress the impacts of climate change. Trade dynamics and export have been the order of the day in the MEA seafood market, where most countries are exporting a bulky part of their seafood products to the peers. Morocco, Egypt, and South Africa export most of their seafood products that are destined for world markets. International demand, trade agreements, and regulatory standards shape export opportunities. With a conformance to quality-certifying programs, building the respective infrastructure for exports is basic in extending marketing access and competitiveness in international seafood trade.

According to the research report ""Middle-East and Africa Sea Food Market Outlook, 2029,"" published by Bonafide Research, the Middle-East and Africa Sea Food market is anticipated to grow at more than 6% CAGR from 2024 to 2029. Technological changes are making extreme efficiency compatible with sustainability. For example, in aquaculture, production systems have radically improved with recent innovations in recirculating aquaculture systems (RAS) and integrated multi-trophic aquaculture (IMTA). Improvements with these systems have been in environmental performance and the use of resources. Processing technologies have advanced, allowing the product quality and shelf life of the seafood to improve. This is supported by automation features and advanced freezing methods. End-line traceability, therefore, justifies optimized supply chain management and seafood safety tools that are no longer manual but digital backed, while data analytic tools pass through in each sector of the seafood supply chain, from the moment seafood is caught until it is consumed. Government policies that are spurring the MEA seafood market guide both food safety regulations and matters of industry development. Many countries have established rule in determining the quality and safety of their seafood, in addition, ESMA specified the standards of food safetyin the UAE. The issues concerning the environment is a significant barrier to the MEA seafood market. The issues of the environment include overfishing and habitat destruction, also pollution. Overfishing and mistaken marine ecology and fish resources, therefore, it demand effective fisheries management and conservation. Other concerns with aquaculture include water pollution and habitat destruction, both of which can result from poor aquaculture practices. The seafood restaurant marketplace of the MEA region is very regionalized with substantial differences in consumption patterns, production capabilities, and regulatory requirements. In the case of North Africa, consumption is high with the preferences more for Mediterranean species. Seemingly, the need for variety and good-quality seafood is high in the Gulf region, including Saudi Arabia and UAE, among both local and expatriate populations. The seafood market in East Africa is, correspondingly, characterized by growth, increased consumption, and developing aquaculture activities.

Market Drivers

• Rising Demand from Expanding Middle Class: In the Middle East and Africa, the rising demand for seafood is largely driven by the expanding middle class, particularly in Gulf Cooperation Council (GCC) countries. As disposable incomes increase, there is a growing preference for high-quality, imported seafood products. The region's cosmopolitan population, with a significant expatriate community, also fuels demand for a diverse range of seafood, including premium and exotic varieties. This demand is further supported by government initiatives aimed at diversifying diets and promoting healthy eating habits. The hospitality and tourism sectors, especially in major cities like Dubai and Riyadh, also play a crucial role in driving seafood consumption.

Market Challenges

• Climate Change and Water Scarcity: Climate change and water scarcity pose significant challenges to the seafood market in the MEA region. Rising sea temperatures and changing oceanic conditions are impacting fish populations, leading to fluctuations in supply and affecting the availability of certain species. Additionally, water scarcity in arid regions limits the potential for aquaculture development, which is increasingly seen as a solution to meet growing seafood demand. These environmental challenges necessitate the adoption of more sustainable practices and innovative technologies, but they also increase costs and create uncertainties for the industry. Addressing these issues is critical for ensuring the long-term sustainability of the seafood market in the region.

Market Trends

• Shift Towards Aquaculture and Fish Farming: The MEA region is witnessing a significant shift towards aquaculture and fish farming as a means to supplement wild-caught seafood and meet the growing demand. Countries like Egypt, Saudi Arabia, and the UAE are investing heavily in aquaculture projects, driven by the need for food security and the desire to reduce reliance on imports. Technological advancements and government support are playing a key role in the expansion of this sector, with a focus on sustainable practices and the efficient use of resources. This trend is expected to transform the seafood industry in the region, creating new opportunities for growth and development.

Processed seafood is gaining traction in the Middle East and Africa (MEA) seafood market, primarily due to increasing urbanization, changing consumer lifestyles, and a growing demand for convenience foods.

The MEA region is characterized by diverse marine resources, with extensive coastlines along the Mediterranean Sea, Red Sea, Arabian Sea, and the Atlantic and Indian Oceans. Traditionally, fresh and frozen seafood have been the mainstays of consumption. However, the rapid urbanization and the growth of the middle class are driving a shift towards processed seafood products that cater to busy lifestyles and the need for convenient meal solutions. The processed seafood market in the MEA region encompasses a wide range of products, including canned seafood, frozen ready meals, smoked fish, marinated seafood, and breaded and battered items. These products offer consumers the benefits of seafood nutrition with the added convenience of quick preparation and extended shelf life. The demand for such products is particularly strong in urban areas, where time-pressed consumers seek hassle-free meal options. The growth of modern retail formats, such as supermarkets and hypermarkets, is also facilitating the expansion of the processed seafood market in the MEA region. These retail outlets provide a wide variety of processed seafood products, making them easily accessible to consumers. Additionally, the increasing penetration of e-commerce platforms is further enhancing the availability and convenience of purchasing processed seafood. The MEA region is witnessing a rise in aquaculture activities, which contribute to the supply of seafood for processing. Countries like Egypt, Nigeria, and Saudi Arabia are investing in fish farming to meet domestic demand and reduce dependence on imports. The development of aquaculture provides a consistent and sustainable source of seafood, enabling the growth of the processed seafood industry. The MEA processed seafood market faces several challenges, including inadequate processing infrastructure, regulatory hurdles, and concerns about food safety and sustainability. Ensuring the safety and quality of processed seafood products is crucial for building consumer trust and expanding market opportunities. Governments and industry players are increasingly focusing on improving processing facilities, implementing stringent food safety standards, and promoting sustainable fishing and aquaculture practices.

Fish is leading the Middle East and Africa (MEA) seafood market primarily due to increasing health consciousness among consumers and a growing preference for nutrient-rich diets.

The MEA seafood market is experiencing significant growth, driven by a combination of factors that highlight the rising prominence of fish as a preferred protein source. Health awareness is at the forefront of this shift, as consumers are increasingly recognizing the nutritional benefits associated with fish, which is high in protein and omega-3 fatty acids while being lower in cholesterol compared to other meat sources. This trend is particularly important in the context of rising obesity rates in the region, where countries like Kuwait and Saudi Arabia report high obesity prevalence. As a result, many consumers are opting for fish as a healthier dietary choice, leading to increased demand for various fish species, including sardines, salmon, and tuna. In addition to health considerations, the demand for sustainable seafood is gaining traction in the MEA region. Consumers are becoming more discerning about the origins of their seafood, prompting businesses to adopt responsible fishing and aquaculture practices. This shift is supported by government initiatives aimed at promoting sustainable fisheries, such as Saudi Arabia's National Fisheries Development Program, which aims to enhance local production and reduce reliance on imports. The region's extensive coastline and investment in aquaculture are facilitating the growth of local fisheries, making fresh seafood more accessible to consumers. The urbanization trend in MEA countries is contributing to changes in consumption patterns. As urban populations grow and disposable incomes rise, consumers are increasingly shifting their preferences from basic food staples to premium food products, including seafood. This trend is further supported by the proliferation of specialty restaurants and food services that emphasize seafood in their menus, catering to the growing appetite for diverse and high-quality seafood options. The convenience of purchasing seafood through supermarkets, hypermarkets, and online platforms is also enhancing its appeal. The COVID-19 pandemic has accelerated the demand for packaged and frozen seafood products, as consumers seek easy-to-prepare meal solutions.

Frozen seafood is a significant player in the MEA (Middle East and Africa) Sea Food Market, driven by the region's strong cultural affinity for seafood, growing demand for convenient and affordable protein sources, and increasing investment in modern retail channels.

The popularity of frozen seafood in MEA can be attributed to the region's strong cultural affinity for seafood, particularly in countries such as Saudi Arabia, Egypt, and the United Arab Emirates. Seafood is an integral part of the region's cuisine, and frozen seafood products have become increasingly popular due to their convenience, affordability, and year-round availability. The growing demand for convenient and affordable protein sources is another key driver of the frozen seafood market in MEA. As incomes rise and lifestyles become busier, consumers in the region are seeking out easy-to-prepare and affordable seafood options that can be easily incorporated into their diets. Frozen seafood products, such as frozen fish, shrimp, and squid, have been able to capitalize on this trend, offering consumers a convenient and affordable way to enjoy seafood at home. The increasing investment in modern retail channels, such as supermarkets and hypermarkets, has also played a significant role in the growth of the frozen seafood market in MEA. These channels have made frozen seafood products more accessible and appealing to consumers, offering a wide range of products and brands to choose from. Additionally, the growth of e-commerce platforms in MEA has also driven demand for frozen seafood products, with online retailers such as Souq and Noon offering a wide range of frozen seafood products to consumers. The MEA region is also home to some of the world's largest seafood importers, such as Saudi Arabia and the United Arab Emirates, which has driven the growth of the frozen seafood market. These countries have invested heavily in their seafood industries, including the development of modern processing and freezing facilities, which has enabled them to import high-quality frozen seafood products from around the world. The MEA region's growing demand for sustainable and halal seafood products has also driven the growth of the frozen seafood market. Many consumers in the region are seeking out seafood products that are certified as sustainable and halal, and frozen seafood products have been able to capitalize on this trend, offering consumers a range of sustainable and halal options.

The United Arab Emirates (UAE) leads the seafood market in the Middle East primarily due to its strategic location and advanced infrastructure for seafood trade and re-export.

The UAE's position at the crossroads of Asia, Africa, and Europe, along with its state-of-the-art ports and logistics networks, enables it to serve as a major hub for global seafood trade. The UAE's seafood market is significantly bolstered by its well-established and efficient cold storage facilities, processing plants, and re-export zones, such as those in Dubai and Abu Dhabi. These facilities ensure the preservation of seafood quality and freshness, making the UAE a reliable supplier to regional and international markets. The country's robust transportation infrastructure, including modern airports and seaports, further facilitates the swift and efficient distribution of seafood products. The UAE's strong economic position and business-friendly environment attract numerous international seafood companies to set up operations in the country. This presence of global players contributes to the growth and competitiveness of the local seafood market. The UAE's diverse and multicultural population also drives a high domestic demand for a variety of seafood, creating opportunities for both local and imported products. The government's supportive policies and investments in the food sector have been instrumental in the development of the seafood market. Initiatives aimed at enhancing food security, promoting sustainable fishing practices, and fostering innovation in aquaculture have helped to strengthen the industry. Additionally, the UAE's active participation in international trade agreements and exhibitions, such as the annual Seafood Expo, further solidifies its leading position in the global seafood market.

Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report
• Seafood market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Source
• Farm Raised
• Wild Caught

By Form
• Processed
• Fresh

By Type
• Fish
• Crustaceans
• Molluscs
• Others (sea cucumbers, sea urchins,)

By Distribution Channel
• Supermarkets/Hypermarkets
• Convenience Stores
• Specialty Stores
• Online Store
• Others (wholesale markets, direct sales from fishermen)

By Category
• Frozen Seafood
• Salted Seafood
• Dried Seafood
• Smoked Seafood
• Others (canned or pickled seafood)

The approach of the report:
This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Seafood industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.
Keywords:
Seafood, Farm Raised, Wild Caught, Processed, Fresh, Fish, Crustaceans, Molluscs, sea cucumbers, sea urchins, Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Online Store, Wholesale markets, direct sales from fishermen, Frozen Seafood, Salted Seafood, Dried Seafood, Smoked Seafood, canned or pickled seafood

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