According to the latest report by IMARC Group, titled “Saudi Arabia Aquaculture Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the saudi arabia aquaculture market reached a production volume of 73,000 Tons in 2020. Looking forward, IMARC Group expects the Saudi Arabia aquaculture market to exhibit strong growth during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Aquaculture refers to the practice of breeding, raising and harvesting aquatic organisms, including shellfish, fish or algae, under controlled conditions. With the growing local seafood consumption, driven by population increase and high per capita incomes, the aquaculture industry has expanded rapidly in Saudi Arabia. The country is strategically located with a 2,600 km long coastline that is suitable for aquaculture development and is home to a wide range of fish and other marine species.
Saudi Arabia Aquaculture Market Trends:
On account of the favorable geographical location of the Red Sea and suitable environmental conditions, significant investments have been made by the Government of Saudi Arabia to upgrade the infrastructure and encourage industrial sea farming in the country. Along with this, the Ministry of Environment, Water and Agriculture in Saudi Arabia has introduced various programs to promote sustainable aquaculture practices, which are economically, technically viable, environment-friendly, and socially acceptable. Besides this, the region is attracting significant foreign investment in the aquaculture industry, which are providing a further push to the market growth. For instance, Viking Labels, a Norwegian startup specializing in land-based recirculating aquaculture system (RAS) technology, has planned to establish a salmon farm in the city of Jeddah, with a capacity of 5,000 metric tons within the next few years. Moreover, the growing consumption of seafood products, the increasing number of farms applying for aquaculture licenses and continuous research and development (R&D) activities to develop cost-effective techniques for enhancing farm production are some of the factors contributing to the success of the aquaculture industry in Saudi Arabia.
Saudi Arabia Aquaculture Market 2021-2026 Competitive Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the saudi arabia aquaculture market has been studied in the report with the detailed profiles of the key players operating in the market.
Key Market Segmentation:
The report has segmented the saudi arabia aquaculture market on the basis of fish type, environment, and distribution channel.
Breakup by Fish Type:
Breakup by Environment:
- Marine Water
- Fresh Water
- Brackish Water
Breakup by Distribution Channel:
- Traditional Retail
- Supermarkets and Hypermarkets
- Convenience stores
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/saudi-arabia-aquaculture-market
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Industry Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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