A Sea of Opportunity: Saudi Arabia Seafood Market Reaches $900 Million by 2027: Ken Research

Saudi Arabia seafood market nets a $900 million catch by 2027, driven by population growth and rising incomes. Fish dominates, with shrimp gaining traction and niche markets emerging. International giants join local players, with a focus on aquaculture and cold chain infrastructure. Sustainability, e-commerce, and value-added products shape the future.

Gurugram, India, May 21, 2024 (GLOBE NEWSWIRE) — Dive into a world of opportunity! The Saudi Arabian seafood market is poised for a significant catch, with a projected market value of $900 million by 2027. Fueled by a growing population, rising disposable incomes, and government initiatives aimed at boosting domestic production, the Kingdom is experiencing a surge in demand for seafood. This press release, based on Ken Research’s insightful report “Saudi Arabia Seafood Market: Opportunities, Competitors: A Rising Tide of Demand,” explores the key trends driving this dynamic market and offers valuable insights for investors, food businesses, and aquaculture players alike. 

Casting a Wider Net: Key Drivers Propelling Saudi Arabia’s Seafood Market 

Several key factors are contributing to the flourishing Saudi Arabian seafood market: 

  • Population Boom Fuels Demand: Saudi Arabia’s burgeoning population, with a growing middle class and a rising taste for seafood, is driving demand for high-quality fish and shellfish. This presents a lucrative opportunity for businesses involved in the import, processing, and distribution of seafood products. 

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Alternative Stat-Based Headings 

  • Growing Appetites: Population Boom Drives $900 Million Saudi Seafood Market by 2027 (Highlights the role of population growth) 
  • Rising Incomes Fuel Spending: Increased Disposable Income Propels Demand for Seafood in Saudi Arabia (Focuses on the impact of disposable income) 
  • Disposable Incomes on the Rise: As disposable incomes rise in Saudi Arabia, consumers are spending more on premium food products, including seafood. This trend creates a market for diverse and high-value seafood options. 
  • Government Support Bolsters Domestic Production: Vision 2030, the Kingdom’s ambitious economic and social reform program, prioritizes increasing domestic seafood production. Government initiatives, such as investments in aquaculture and infrastructure development, are expected to play a crucial role in reducing reliance on seafood imports. 

Market Segmentation: A Catch for Every Preference 

The Saudi Arabian seafood market caters to a variety of consumer preferences and dietary needs. Here’s a closer look at the segmentation within this dynamic market: 

  • Fish Leads the Pack: Fish accounts for the largest share of the Saudi Arabian seafood market. Popular varieties include tuna, sardines, and hammour, a type of grouper. This category is expected to maintain its dominance in the coming years. 
  • Shrimp Gains Traction: Shrimp is another popular seafood choice in Saudi Arabia. Growing consumer awareness of the health benefits of shrimp and its versatility in various cuisines are driving demand for this segment. 
  • Emerging Niche Markets: Specialty seafood items like oysters, mussels, and lobster are gaining popularity, particularly in high-end restaurants and hotels. This niche market caters to adventurous palates and a growing demand for unique culinary experiences. 

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Building a Competitive Landscape: Local and Global Players Set Sail 

The Saudi Arabian seafood market features a blend of established international players and ambitious domestic companies: 

  • International Seafood Giants Enter the Market: Recognizing the Kingdom’s potential, major international seafood companies are entering the Saudi market. They bring expertise in sourcing, processing, and distribution, contributing to improved product quality and efficiency. 
  • Domestic Players Invest in Aquaculture: Saudi Arabian companies are actively investing in aquaculture to enhance domestic production and reduce dependence on imports. This includes establishing fish farms and hatcheries, fostering innovation in sustainable aquaculture practices. 
  • Focus on Cold Chain Infrastructure: A well-developed cold chain infrastructure is crucial for maintaining seafood quality throughout the supply chain. Investments in refrigerated transportation and storage facilities are creating a more efficient and streamlined seafood market. 

The Future is Sustainable and Diverse: Emerging Trends Shaping the Landscape 

The Saudi Arabian seafood market is poised for exciting advancements: 

  • Sustainability Takes Center Stage: Environmental consciousness is rising among Saudi consumers. Sustainable fishing practices and responsible aquaculture methods are gaining traction, with businesses focusing on minimizing environmental impact. 
  • E-commerce Drives Online Seafood Sales: The growth of e-commerce platforms is offering convenient access to fresh seafood for consumers. This trend presents new opportunities for businesses to develop innovative online sales strategies and delivery solutions. 
  • Focus on Value-Added Products: Consumers are increasingly seeking convenient and ready-to-eat seafood options. The market for value-added products like marinated fish, pre-packaged shellfish, and ready-to-cook meals is expected to grow significantly. 

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Download the full report to gain a comprehensive analysis of the Saudi Arabia Seafood Market and its exciting future. This report equips you with the knowledge needed to navigate this dynamic landscape and position yourself for success in the Kingdom’s flourishing seafood industry.

Taxonomy

KSA Seafood Market Segmentation

By Type

  • Fish
  • Shrimps
  • Crustaceans
  • Others (Lobsters, Mullusks and more)

By Form

  • Fresh
  • Frozen
  • Primary Processed
  • Secondary Processed

By Fish

  • Frozen
  • Fresh
  • Primary Processed
  • Secondary Processed

By Shrimp

  • Fresh
  • Frozen
  • Primary Processed
  • Secondary Processed

By Crustaceans

  • Fresh
  • Frozen
  • Primary Processed
  • Secondary Processed

By others (Lobsters, Mullusks and more)

  • Fresh
  • Frozen
  • Primary Processed
  • Secondary Processed

By Place of Retail

  • Off-Trade
  • On- Trade

By Off-Trade

  • Offline
  • Online

By On Trade

  • Restaurants
  • Hotels
  • Catering
  • Others (food trucks, cloud kitchens and other un-organized food sellers)

By Offline

  • Traditional Markets
  • Hypermarkets

By Major Region

  • Western Region
  • Central Region
  • Eastern Region
  • Sothern Region
  • Northern Region

KSA Processed Seafood Market Segmentation

By Type of Processing

  • Primary
  • Secondary

By Fish

  • Primary Processed
  • Secondary Processed

By Shrimp

  • Primary Processed
  • Secondary Processed

By Crustaceans

  • Primary Processed
  • Secondary Processed

By others (Lobsters, Mullusks and more)

  • Primary Processed
  • Secondary Processed

By Primary Processing

  • Filleting
  • Portioning
  • Skinning
  • Others (Cleaning, heading, slaughtering and more.)

By Secondary Processing

  • Dried
  • Smoked
  • Breaded
  • Others (Pickling, marinating, brining and more.)

By Place of Retail

  • Off-Trade
  • On- Trade

By Place of Retail for Primary Processing

  • Off-Trade
  • On- Trade

By Major region

  • Western Region
  • Central Region
  • Eastern Region
  • Sothern Region
  • Northern Region

KSA Distribution & Retail Seafood Market Segmentation

By Distribution Channel

  • Wholesale Channels
  • Direct Retail

By Type of wholesale

  • Fish
  • Shrimp
  • Crustaceans
  • Others

By Major region

  • Western Region
  • Central Region
  • Eastern Region
  • Sothern Region
  • Northern Region

KSA Fish Feed Market Segmentation

By Type

  • Fish
  • Shrimps
  • Crustaceans
  • Others (Sea cucumber, mussels and more.)

By End-Users

  • E-Commerce
  • Retail
  • Others

By Form

  • Pellet
  • Granules
  • Sticks
  • Flakes
  • Powder and Others

By End User

  • Nutritional Feed
  • Medication Feed
  • Environmental Feed
  • Algae- Based Feed
  • Color enhancing Feed
  • Others

By Type of Trade

  • Domestic
  • Import

By Distribution Channel

  • Wholesale
  • Direct Retail

By Major City

  • Jeddah
  • Jazan
  • Dammam
  • Others (Makkah, Tabuk, Madinah.)

For More Insights On Market Intelligence, Refer To The Link Below: –

KSA Seafood and Fish Feed Market

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Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
+91-9015378249

CONTACT: Contact Us:- Ken Research Private Limited Ankur Gupta, Director Strategy and Growth Ankur@kenresearch.com +91-9015378249

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