Saudi Arabia Seafood market is expected
to grow at a steady CAGR during the forecast period. Increasing demands for
protein-enriched seafood are driving the growth of the Saudi Arabia seafood
market in the upcoming five years. Oil is the main revenue-generating industry
in Saudi Arabia, and the government is introducing schemes to diversify the
income-generating resources to reduce the dependency on the oil industry.
Supportive government policies and the launch of initiatives supporting the
domestic production of fish is the major driving factor for the growth of the
seafood market. The rise in the investments made for the technological
up-gradation of the existing infrastructure and the advancements made in the
aquaculture sector to utilize the existing resources is expected to propel the
seafood market growth in the next five years. The presence of favorable
environmental conditions at the red sea is expected to contribute to increasing
the production of seafood which in turn is expected to foster market growth.
The surge in demand for high-quality protein food among the consumers and the
vast consumption of seafood by the majority of the residents are creating
lucrative opportunities for the seafood market growth. The rise in the per
capita income of individuals is increasing the expenditure capacity of
consumers to afford quality food. Change in the lifestyle of the people by the
adoption of healthy eating habits and by keeping a check on the calories
consumed is expected to fuel the demand for seafood in the coming five years.
Saudi Arabia Seafood market is segmented
into product, type, sales channel, regional distribution, and company. Based on
the sales channel, the market can be divided into supermarket/hypermarket,
departmental stores, specialized stores, institution sales, food service
online, and others. The supermarket/hypermarket segment is expected to witness
growth in the forecast period, 2024-2028 owing to the availability of fresh
seafood at these stores and the large footfall visiting these markets to buy
for their daily needs.
The major players operating in the Saudi
Arabia Seafood market are Sea Land Seafood Trading Co., Arab Fisheries Co, Al
Faisal Fisheries Co, National Aquaculture Group, Rubban Fisheries Trading
Company, Izafco LLC, Jazadco Shrimp Sales, Saudi Fisheries Company, Sami Hamad
Est, Mohamed Ali Al Aradi & Partner Co., Uzma TE, Zuhair Al Madani Food
Trading, King Fisheries Est. Jubail, Kingdom, Fitkar International Trading
Company, Mohamed A. Alharbi Est. - Alharbi Seafoods, among others. Major
companies are developing advanced technologies and launching new services to
stay competitive in the market. Other competitive strategies include mergers
& acquisitions and new service developments.
Objective of the Study:
- To analyze the historical growth of the market size of Saudi
Arabia Seafood market from 2018 to 2021.
- To estimate and forecast the market size of Saudi Arabia Seafood market
from 2022 to 2028 and growth rate until 2028.
- To classify and forecast Saudi Arabia Seafood market based on
product, type, sales channel, regional distribution, and company.
- To identify dominant region or segment in the Saudi Arabia Seafood
market.
- To identify drivers and challenges for Saudi Arabia Seafood market.
- To examine competitive developments such as expansions, new product
launches, mergers & acquisitions, etc., in Saudi Arabia Seafood
market.
- To identify and analyze the profile of leading players operating in
Saudi Arabia Seafood market.
- To identify key sustainable strategies adopted by market players in
Saudi Arabia Seafood market.
Download Free Sample Report
TechSci Research performed both primary as well as exhaustive
secondary research for this study. Initially, TechSci Research sourced a list
of manufacturers across the globe. Subsequently, TechSci Research conducted
primary research surveys with the identified companies. While interviewing, the
respondents were also enquired about their competitors. Through this technique,
TechSci Research could include the manufacturers which could not be identified
due to the limitations of secondary research. TechSci Research analyzed the manufacturers,
distribution channels and presence of all major players across the globe.
TechSci
Research calculated the market size of Saudi Arabia Seafood market using a bottom-up approach, wherein data for various end-user
segments was recorded and forecast for the future years. TechSci Research
sourced these values from the industry experts and company representatives and
externally validated through analyzing historical data of these product types
and applications for getting an appropriate, overall market size. Various
secondary sources such as company websites, news articles, press releases,
company annual reports, investor presentations and financial reports were also studied
by TechSci Research.
Key Target Audience:
- Seafood manufacturing companies, and other
stakeholders
- Market research and consulting firms
- Government bodies such as regulating
authorities and policy makers
- Organizations, forums, and alliances related
to Seafood market
The study is useful in providing answers to several critical
questions that are important for the industry stakeholders such as manufacturers,
suppliers and partners, end users, etc., besides allowing them in strategizing
investments and capitalizing on market opportunities.
|
Attribute
|
Details
|
|
Base Year
|
2022
|
|
Historical Data
|
2018 –
2021
|
|
Estimated Year
|
2023
|
|
Forecast Period
|
2024
– 2028
|
|
Quantitative Units
|
Revenue in USD Million and CAGR for 2018-2022 and 2023E-2028F
|
|
Report coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments covered
|
·
Product
·
Type
·
Sales Channel
|
|
Regional scope
|
Western
Region, Northern and Central Region, Eastern Region, Southern Region
|
|
Key companies profiled
|
Sea Land Seafood Trading Co., Arab Fisheries Co, Al Faisal
Fisheries Co, National Aquaculture Group, Rubban Fisheries Trading Company,
Izafco LLC, Jazadco Shrimp Sales, Saudi Fisheries Company, Sami Hamad Est,
Mohamed Ali Al Aradi & Partner Co., Uzma TE, Zuhair Al Madani Food
Trading, King Fisheries Est. Jubail, Kingdom, Fitkar International Trading
Company, Mohamed A. Alharbi Est. - Alharbi Seafoods
|
|
Customization scope
|
10%
free report customization with purchase. Addition or alteration to country, regional
& segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery Format
|
PDF
and Excel through Email (We can also provide the editable version of the
report in PPT/Word format on special request)
|
Report Scope:
In this report, Saudi Arabia Seafood market
has been segmented into following categories, in addition to the industry
trends which have also been detailed below:
·
Saudi Arabia Seafood Market, By Product:
- Fish
- Shrimp
- Crab
- Lobster
- Others
- Saudi Arabia Seafood Market, By Type:
- Saudi Arabia Seafood Market, By Sales Channel:
- Supermarket/Hypermarket
- Departmental
Stores
- Specialized
Stores
- Institution
Sales
- Food
Service
- Online
- Others
- Saudi Arabia Seafood Market, By
Region:
o Western Region
o Northern & Central Region
o Eastern Region
o Southern Region
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in Saudi Arabia Seafood market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company Information:
- Detailed analysis and profiling of additional market players (up to five).
Saudi Arabia Seafood market is an upcoming report to be released soon.
If you wish an early delivery of this report or want to confirm the date of
release, please contact us at [email protected]