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Saudi Arabia Seafood Market Forecast Report and Company Analysis 2025-2033 Featuring Almunajem Foods, Arab Fisheries, IZAFCO, Saudi Fisheries Co, Shell Fisheries, Tabuk Fisheries, The Savola Group

1. Saudi Arabia's seafood market is expanding due to rising health consciousness. 2. Government initiatives aim to enhance aquaculture and reduce oil dependency. 3. Technological advancements support sustainable seafood production and quality improvements. 4. Increased demand for seafood correlates with growing tourism and consumer awareness. 5. Saudi Arabia's reliance on imports poses risks to seafood supply stability.

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Why Bullish?

SHEL could benefit from the broader acceptance of healthier seafood and the government's initiatives to diversify its economy and enhance the seafood market, as seen historically during market expansions.

How important is it?

The article highlights significant trends and structural changes in a major market likely affecting SHEL’s operations, aligning with the broader seafood supply chain affecting SHEL.

Why Long Term?

The long-term initiatives under Vision 2030 suggest sustained growth opportunities for SHEL as the aquaculture sector matures and reduces import dependency.

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Some of the major reasons propelling the market's growth include growing consumer health consciousness, government programs encouraging seafood consumption, expanded retention channels, and notable technological advancements in aquaculture. Saudi Arabia's seafood market is expanding significantly due to growing customer demand for sustainable and healthful protein sources. More people are looking for meat substitutes and turning to seafood because of its nutritional advantages as the population rises and health consciousness rises. Consumption of fish and shellfish has increased because of their high omega-3 fatty acid, vitamin, and mineral content. The seafood industry has also grown more quickly as a result of government efforts to diversify the economy away from oil and to encourage sustainable fishing methods. The advancement of aquaculture technologies has supplemented this, increasing the sustainability and economic viability of local seafood production.To establish itself as a significant player in the world fish market, the nation is also concentrating on growing its seafood exports. Saudi Arabia may satisfy demand from both domestic and foreign markets by growing its infrastructure for seafood processing and distribution. In order to ensure the long-term sustainability of seafood production, the Kingdom is looking into ways to expand the aquaculture industry as part of its Vision 2030 project. Furthermore, as tourists from abroad look for genuine regional cuisine, the expanding tourism industry is increasing demand for premium seafood items. Saudi Arabia is well-positioned to meet the changing preferences and demands of its citizens while emerging as a major exporter in the global seafood market because to investments made in the sector and the infrastructure that surrounds it.Government Initiatives and Vision 2030The main drivers of the growth of the seafood business are the Saudi Arabian government's initiatives and the strategic goals outlined in Vision 2030. The government has been growing the aquaculture industry as part of its economic diversification plan in an effort to reduce dependency on oil and enhance food production. To accommodate the rising domestic demand, significant capital expenditures, subsidies, and incentives are provided to promote local fish production. This government assistance includes effective legal frameworks, aquaculture technology advancement, and infrastructural development. As a result, these programs are crucial in broadening the market and creating space for regional seafood producers to flourish.The Ministry of Environment, Water, and Agriculture (MEWA) announced a new program under Vision 2030 to increase aquaculture production to 600,000 tons by 2030, which includes significant investments in infrastructure and technology to support sustainable aquaculture practices, according to an August 2021 article on King Abdullah University of Science and Technology.Innovation in Aquaculture and Technological DevelopmentsTechnological developments and aquaculture breakthroughs are responsible for the expansion of the Saudi Arabian seafood sector. Seafood production yields are increased by the application of innovative technology in aquaculture, such as RAS, automated feeding, and species genetic enhancement. By enabling ethical and environmentally favorable activities, these technologies aid in preventing overfishing and damage to the marine environment. Additionally, better cold chain logistics and processing technologies increase fish items' quality and freshness, extending their shelf life and market availability. Market expansion is also fueled by ongoing innovation in improving aquaculture methods and creating more resilient seafood species to meet the rising demand for seafood products from consumers. As part of the Kingdom's Vision 2030 ambition to diversify the Saudi economy, the National Fisheries Development Programme (NFDP) of Saudi Arabia, headed by Dr. Ali Al-Shaikhi, intends to draw $4 billion in investments to the aquaculture industry.Awareness of Nutrition and HealthOne of the main factors driving the expansion of the seafood sector in Saudi Arabia is the growing consumer awareness of nutritional qualities and healthy eating. Demand for seafood intake is rising as people become more aware of its health benefits, which include high protein, omega-3 fatty acids, and other vitamins and minerals. The consumption of different marine products is rising quickly as a result of these dietary changes. Additionally, this trend is influenced by the growing awareness of the advantages of seafood brought about by health organizations' educational programs and efforts. The industry is growing because more people are choosing seafood as a healthier alternative due to the rise in lifestyle disorders including obesity and heart disease.For example, the Saudi Food and Drug Authority (SFDA) started a campaign to highlight the advantages of eating seafood for a balanced diet, stressing its role in reducing chronic diseases and enhancing general health, according to a 2021 report published in the Saudi Gazette.Overfishing and Sustainability ConcernsFish populations are at risk, and the natural equilibrium of marine ecosystems is being upset by overfishing, which has emerged as a significant problem in Saudi Arabia's seafood sector. Even though the government has passed a number of laws to encourage sustainable fishing methods, illicit fishing is still a problem and is making the loss of important marine resources worse. Fish stocks are depleted as a result of overfishing, which impacts seafood availability and quality. Furthermore, the long-term sustainability of the fishing sector may be threatened by the environmental effects of unsustainable practices. Stricter enforcement of sustainable fishing laws, such as quotas and protected marine zones, is being pushed in an effort to counteract this. For the seafood market to stay sustainable in the future, it will still be difficult to strike a balance between environmental preservation and economic growth.Dependency on ImportsDespite initiatives to increase domestic seafood production, Saudi Arabia is still mostly dependent on imports to meet the rising domestic demand. The market is vulnerable to a number of risks as a result of its reliance on overseas suppliers, such as changes in global prices, interruptions in the supply chain, and possible problems with quality control. Due to shipping issues, tariffs, and geopolitical considerations, imported fish may also experience delays or higher prices. Furthermore, dependence on imports lessens the motivation to develop domestic fisheries and aquaculture, which could otherwise assist alleviate supply threats. Saudi Arabia has been making investments in aquaculture to increase domestic seafood output in order to address this problem, but it will take some time for domestic production to completely satisfy demand and lessen dependency on imports. Key Attributes: Report AttributeDetailsNo. of Pages200Forecast Period2024 - 2033Estimated Market Value (USD) in 2024$0.98 BillionForecasted Market Value (USD) by 2033$1.23 BillionCompound Annual Growth Rate2.5%Regions CoveredSaudi Arabia Company Analysis: Overview, Key Persons, Recent Development, Revenue Almunajem FoodsArab Fisheries Co.IZAFCO Fish Packing CompanyNational Aquaculture GroupSaudi Fisheries CompanyShell Fisheries Company W.L.L.Tabuk Fisheries Co.The Savola Group. Saudi Arabia Seafood Market Segments Type FishShrimpCrabLobsterOthers Form CannedFresh / ChilledFrozenProcessed Distribution Channel Supermarket/HypermarketDepartmental StoresSpecialized StoresInstitution SalesFood ServiceOnlineOthers Region Western RegionNorthern & Central RegionEastern RegionSouthern Region For more information about this report visit https://www.researchandmarkets.com/r/jisop1 About ResearchAndMarkets.comResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Saudi Arabian Seafood Market Saudi Arabian Seafood Market Saudi Arabian Seafood Market

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