Saudi Arabia Seafood Market By Product (Fish, Shrimp, Crab, Lobster, Others) By Type (Raw, Frozen, Processed) By Application (Retail, Institution Sales and Food Service) By Distribution Channel (Supermarket/Hypermarket, Departmental Stores, Specialized Stores, Online, Others), Company Forecast & Opportunities, 2027

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, 2023-2027 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 2017 to 2020.
• To estimate and forecast the market size of Saudi Arabia Seafood market from 2021 to 2027 and growth rate until 2027.
• 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.

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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.

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:
• Raw
• Frozen
• Processed
• 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).