Saudi Arabia Aquaculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Saudi Arabia Aquaculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The Saudi Arabia aquaculture market reached a production volume of 397,800 Tons in 2022. Looking forward, IMARC Group expects the market to reach 631,300 Tons by 2028, exhibiting a growth rate (CAGR) of 7.9% during 2023-2028.

Aquaculture is a farming practice of aquatic species under human supervision in a tank, floating cage, pond or any other water body. The Kingdom of Saudi Arabia has a long history in aquaculture since the first shrimp farms were developed across the red sea coast during the 1980’s. In recent years, strong advancements have been made in the aquaculture industry catalyzed by the red sea’s favorable environment conditions as well as technological advancements.

The aquaculture production fulfills the partial domestic demand of seafood in the country and the rest of it is imported from neighboring countries. 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 of high-quality protein rich food. As a result of an increasing prevalence of life style diseases, there has been a rise in the seafood consumption in the country as they are rich in protein, vitamins and omega-3 fatty acids. Aquaculture is also the fastest growing animal food production sector in the country. The growth is backed by government support and initiatives in order to raise the domestic production.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the Saudi Arabia aquaculture market report, along with forecasts for the period 2023-2028. Our report has categorized the market based on fish type, environment and distribution channel.

Breakup by Fish Type:

On the Basis of Production
Freshwater Fishes
Diadromous Fishes
Marine Fishes
Crustaceans
Others
On the Basis of Consumption
Pelagic Fish
Freshwater and Diadromous Fish
Crustaceans
Demersal Fish
Others

Breakup by Environment:

Marine Water
Fresh Water
Brackish Water

Breakup by Distribution Channel:

Traditional Retail
Supermarkets and Hypermarkets
Convenience Stores
Online Channel
Others

Competitive Landscape:
The report has also examined the competitive landscape of the Saudi Arabia aquaculture market. Some of the major players include: National Aquaculture Group (NAQUA), Saudi Fisheries Company (SFC), Asmak Holdings, Jazan Energy, and Development Company (Jazadco), Arabian Shrimp Company and Tabuk Fisheries Company etc.

This report provides a deep insight into the Saudi Arabia aquaculture market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the Saudi Arabia aquaculture market in any manner.

Key Questions Answered in This Report:
How has the Saudi Arabia aquaculture market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the Saudi Arabia aquaculture market ?
What is the breakup of the Saudi Arabia aquaculture market based on the fish type?
What is the breakup of the Saudi Arabia aquaculture market based on the environment?
What is the breakup of the Saudi Arabia aquaculture market based on the distribution channel?
What are the various stages in the value chain of the Saudi Arabia aquaculture industry?
What are the key driving factors and challenges in the Saudi Arabia aquaculture industry?
What is the structure of the Saudi Arabia aquaculture industry and who are the key players?
What is the degree of competition in the Saudi Arabia aquaculture market?