Summary

The Saudi Arabia aquaculture market size reached a production volume of 429,300 Tons in 2023. Looking forward, IMARC Group expects the market to reach 796,500 Tons by 2032, exhibiting a growth rate (CAGR) of 6.9% during 2024-2032. The widespread adoption of sustainable aquaculture practices due to the growing environmental consciousness, rising demand for seafood among the masses, and the acquisition and implementation of modern aquaculture technologies are among the key factors driving the market growth.

Aquaculture, often referred to as 'aquafarming', is a specialized branch of agriculture that involves the cultivation of aquatic organisms in both marine and freshwater environments. Such organisms may include various species of fish, shellfish, mollusks, crustaceans, seaweed, and even certain types of algae. It is conducted on different scales, ranging from small backyard ponds to vast offshore operations. The process involves managing and promoting the growth of these species under controlled conditions, often in tanks or enclosures, with the goal of maximizing production for commercial purposes, such as food production, ornamental trade, or restoration of endangered species. Its relevance has been steadily growing as global seafood consumption increases and wild stocks decline.

Saudi Arabia's strategic location, between the Red Sea and Arabian Gulf, provides substantial export opportunities to European, African, and Asian markets. The rising demand for seafood, coupled with depleting fish stocks in the wild is significantly supporting the market. The country's move towards meeting international quality standards also drives its competitive edge in global markets, fostering growth in the sector. As environmental concerns become more critical globally, the adoption of sustainable aquaculture practices is a significant factor driving the growth of the Saudi Arabian aquaculture industry. This includes the use of environmentally friendly feeds, waste management technologies, and energy-efficient systems. Sustainable aquaculture reduces environmental impact and enhances the market's overall image, making products more appealing to both domestic and international consumers. In addition, the Saudi Arabian government is working on enhancing domestic capacity by establishing state-of-the-art hatcheries and farming facilities. The availability of high-quality fingerlings and seeds for different species of fish and crustaceans has been a critical factor in improving farm productivity. Apart from this, the promising growth prospects of the aquaculture sector have attracted considerable investments from both local and foreign investors. Public-private partnerships (PPP) are being encouraged to boost the industry's development. Significant capital inflow is aiding in the acquisition and implementation of modern aquaculture technologies and infrastructure, thereby creating a positive market outlook.

Saudi Arabia Aquaculture Market Trends/Drivers:
Rising Demand for Seafood

A significant driver of the aquaculture market in Saudi Arabia is the increasing demand for seafood, primarily due to changing dietary patterns and rising health awareness. As Saudi Arabia diversifies its economy and improves living standards, protein-rich diets, including fish and other seafood, have gained prominence. Furthermore, the global trend towards healthier, more sustainable diets has influenced the Saudi Arabian population to consume more seafood, leading to heightened domestic demand. Fish is a lean source of protein and contains vital nutrients, including omega-3 fatty acids, which are essential for human health. With the region's growing population and rising disposable income, this demand is expected to grow even more, stimulating the development of the aquaculture sector. Additionally, government initiatives to promote healthy eating habits, combined with growing urbanization, are expected to significantly increase per capita seafood consumption.

Advancements in Aquaculture Technologies

As Saudi Arabia looks to make the most of its long coastline and the Red Sea's rich marine life, advancements in aquaculture technologies are driving the industry's growth. Innovations in feed and species selection, water quality management, and disease control are enabling more efficient and sustainable production. In addition, the integration of advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), and remote sensing in monitoring and controlling farming operations are expected to further enhance yield and reduce operational costs. The use of recirculating aquaculture systems (RAS) and offshore farming methods, for instance, is making it possible to farm a wider variety of species in a controlled environment, thus enhancing productivity. Moreover, the application of biotechnology in developing disease-resistant and fast-growing strains of fish could significantly boost production. This technological drive, coupled with research and development initiatives, is helping Saudi Arabia harness its aquaculture potential to a greater extent.

Saudi Arabia Aquaculture Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the Saudi Arabia aquaculture market report, along with forecasts for the period 2024-2032. Our report has categorized the market based on fish type, environment and distribution channel.

Breakup by Fish Type:

On the Basis of Production
Freshwater Fishes
Diadromous Fishes
Marine Fishes
Crustaceans
Others
On the Basis of Consumption
Pelagic Fish
Freshwater and Diadromous Fish
Crustaceans
Demersal Fish
Others

Production (crustaceans) represents the most widely used fish types

The report has provided a detailed breakup and analysis of the market based on the fish type. This includes on the basis of production (freshwater fishes, diadromous fishes, marine fishes, crustaceans, and others), on the basis of consumption (pelagic fish, freshwater and diadromous fish, crustaceans, demersal fish, and others). According to the report, production (crustaceans) represented the largest segment.

The Saudi Arabia aquaculture industry is experiencing significant market drivers for crustacean production, particularly fish types. One key driver is the growing demand for high-quality seafood products in the domestic market. Crustaceans, such as shrimp and prawns, are considered delicacies and are widely consumed in Saudi Arabia. Additionally, the country's efforts to reduce its reliance on imported seafood and promote self-sufficiency have boosted the production of crustaceans in aquaculture farms.

On the other hand, pelagic fish, such as sardines, mackerel, and tuna, are widely consumed fish types in Saudi Arabia and globally. These fish are rich in omega-3 fatty acids and are considered healthy protein sources. As the population of Saudi Arabia grows, along with rising disposable income and improved living standards, the demand for pelagic fish has increased.

Breakup by Environment:

Marine Water
Fresh Water
Brackish Water

Marine water account for the majority of the market share

A detailed breakup and analysis of the market based on the environment has also been provided in the report. This includes marine water, fresh water, and brackish water. According to the report, the marine water segment accounted for the largest market share.

The Saudi Arabia aquaculture industry is driven by the country's vast coastline along the Red Sea and Arabian Gulf, providing abundant marine resources and access to diverse aquatic species. The favorable environmental conditions, including water temperature, salinity, and nutrient levels, create an ideal ecosystem for aquaculture. The pristine marine waters of Saudi Arabia are known for their exceptional water quality, which is crucial for the healthy growth and development of aquatic organisms. Additionally, the government's initiatives and investments in preserving and protecting the marine water environment further enhance the market drivers for the aquaculture industry. Efforts such as strict regulations, coastal zone management, and sustainable fishing practices contribute to the sustainability and growth of the marine water environment, enabling the aquaculture industry to thrive and meet the increasing demand for seafood in Saudi Arabia.

Breakup by Distribution Channel:

Traditional Retail
Supermarkets and Hypermarkets
Convenience Stores
Online Channel
Others

Traditional retail represents the most widely used distribution channel

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes traditional retail, supermarkets and hypermarkets, convenience stores, online channel, and others. According to the report, traditional retail represented the largest segment.

The traditional distribution channel plays a significant role in driving Saudi Arabia aquaculture industry. One of the primary market drivers for this distribution channel is the cultural preference for fresh and locally sourced seafood. Traditional distribution channels, such as fish markets, seafood souks, and local fishmongers, have long been ingrained in Saudi Arabian society, and consumers often rely on these channels for their seafood purchases. Moreover, these channels provide a platform for small-scale fish farmers and local fishermen to sell their products, contributing to the local economy and supporting small businesses. The established trust and familiarity associated with the traditional distribution channel continue to drive its popularity in the Saudi Arabia aquaculture industry, making it an integral part of the seafood market.

Competitive Landscape:
The key players in the market are utilizing various production and manufacturing processes, such as chemical synthesis or fermentation of natural sources. They are investing in research and development to improve production efficiency, enhance product quality, and explore new sources of malic acid. Along with this, malic acid companies conduct market research and analysis to identify emerging trends, consumer preferences, and potential applications of malic acid. In addition, the growing focus on developing new and innovative malic acid-based products to cater to various industries is significantly supporting the market. The exploration of different formulations, blends, and derivatives of malic acid offers unique solutions and enhances its applications in food additives, acidulants, flavor enhancers, and other specialty chemicals. Apart from this, companies in the malic acid market engage in marketing and promotional activities to create awareness about the benefits and applications of malic acid. Furthermore, the escalating number of partnerships and mergers to improve production capabilities, and distribution channels is contributing to the market.

The report has provided a comprehensive analysis of the competitive landscape in the Saudi Arabia aquaculture market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

National Aquaculture Group (NAQUA)
Saudi Fisheries Company (SFC)
Arabian Shrimp Company
Asmak Holdings
Jazan Energy, and Development Company (Jazadco)
Tabuk Fisheries Company

Key Questions Answered in This Report

1. What was the size of the Saudi Arabia aquaculture market in 2023?
2. What is the expected growth rate of the Saudi Arabia aquaculture market during 2024-2032?
3. What are the key factors driving the Saudi Arabia aquaculture market?
4. What has been the impact of COVID-19 on the Saudi Arabia aquaculture market?
5. What is the breakup of the Saudi Arabia aquaculture market based on the fish type (by production)?
6. What is the breakup of the Saudi Arabia aquaculture market based on the fish type (by consumption)?
7. What is the breakup of the Saudi Arabia aquaculture market based on the environment?
8. What is the breakup of the Saudi Arabia aquaculture market based on the distribution channel?
9. Who are the key players/companies in the Saudi Arabia aquaculture market?

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Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Saudi Arabia Aquaculture Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Fish Type
5.5 Market Breakup by Environment
5.6 Market Breakup by Distribution Channel
5.7 Market Forecast
5.8 SWOT Analysis
5.8.1 Overview
5.8.2 Strengths
5.8.3 Weaknesses
5.8.4 Opportunities
5.8.5 Threats
5.9 Value Chain Analysis
5.10 Porters Five Forces Analysis
5.10.1 Overview
5.10.2 Bargaining Power of Buyers
5.10.3 Bargaining Power of Suppliers
5.10.4 Degree of Competition
5.10.5 Threat of New Entrants
5.10.6 Threat of Substitutes
5.11 Government Regulations in the Saudi Arabia Aquaculture Industry
6 Market Breakup by Fish Type
6.1 Production
6.1.1 Freshwater Fishes
6.1.1.1 Market Trends
6.1.1.2 Market Forecast
6.1.2 Diadromous Fishes
6.1.2.1 Market Trends
6.1.2.2 Market Forecast
6.1.3 Marine Fishes
6.1.3.1 Market Trends
6.1.3.2 Market Forecast
6.1.4 Crustaceans
6.1.4.1 Market Trends
6.1.4.2 Market Forecast
6.1.5 Others
6.1.5.1 Market Trends
6.1.5.2 Market Forecast
6.2 Consumption
6.2.1 Pelagic Fish
6.2.1.1 Market Trends
6.2.1.2 Market Forecast
6.2.2 Freshwater and Diadromous Fish
6.2.2.1 Market Trends
6.2.2.2 Market Forecast
6.2.3 Crustaceans
6.2.3.1 Market Trends
6.2.3.2 Market Forecast
6.2.4 Demersal Fish
6.2.4.1 Market Trends
6.2.4.2 Market Forecast
6.2.5 Others
6.2.5.1 Market Trends
6.2.5.2 Market Forecast
7 Market Breakup by Environment
7.1 Marine Water
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Fresh Water
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Brackish Water
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by Distribution Channel
8.1 Traditional Retail
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Supermarkets and Hypermarkets
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Convenience Stores
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Online Channel
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Others
8.5.1 Market Trends
8.5.2 Market Forecast
9 Competitive Landscape
9.1 Market Structure
9.2 Key Players
9.3 Profiles of Key Players
9.3.1 National Aquaculture Group (NAQUA)
9.3.2 Saudi Fisheries Company (SFC)
9.3.3 Arabian Shrimp Company
9.3.4 Asmak Holdings
9.3.5 Jazan Energy, and Development Company (Jazadco)
9.3.6 Tabuk Fisheries Company
List of Figures
Figure 1: Saudi Arabia: Aquaculture Market: Major Drivers and Challenges
Figure 2: Saudi Arabia: Aquaculture Market: Production Volume (in ‘000 Tons), 2018-2023
Figure 3: Saudi Arabia: Aquaculture Market: Consumption Volume (in ‘000 Tons), 2018-2023
Figure 4: Saudi Arabia: Aquaculture Market: Production Breakup by Fish Type (in %), 2023
Figure 5: Saudi Arabia: Aquaculture Market: Consumption Breakup by Fish Type (in %), 2023
Figure 6: Saudi Arabia: Aquaculture Market: Breakup by Environment (in %), 2023
Figure 7: Saudi Arabia: Aquaculture Market: Breakup by Distribution Channel (in %), 2023
Figure 8: Saudi Arabia: Aquaculture Market Forecast: Production Volume (in ‘000 Tons), 2024-2032
Figure 9: Saudi Arabia: Aquaculture Market Forecast: Consumption Volume (in ‘000 Tons), 2024-2032
Figure 10: Saudi Arabia: Aquaculture Industry: SWOT Analysis
Figure 11: Saudi Arabia: Aquaculture Industry: Value Chain Analysis
Figure 12: Saudi Arabia: Aquaculture Industry: Porter’s Five Forces Analysis
Figure 13: Saudi Arabia: Aquaculture Market (Freshwater Fishes): Production Volume (in ‘000 Tons), 2018 & 2023
Figure 14: Saudi Arabia: Aquaculture Market (Freshwater Fishes) Forecast: Production Volume (in ‘000 Tons), 2024-2032
Figure 15: Saudi Arabia: Aquaculture Market (Diadromous Fishes): Production Volume (in ‘000 Tons), 2018 & 2023
Figure 16: Saudi Arabia: Aquaculture Market (Diadromous Fishes) Forecast: Production Volume (in ‘000 Tons), 2024-2032
Figure 17: Saudi Arabia: Aquaculture Market (Marine Fishes): Production Volume (in ‘000 Tons), 2018 & 2023
Figure 18: Saudi Arabia: Aquaculture Market (Marine Fishes) Forecast: Production Volume (in ‘000 Tons), 2024-2032
Figure 19: Saudi Arabia: Aquaculture Market (Crustaceans): Production Volume (in ‘000 Tons), 2018 & 2023
Figure 20: Saudi Arabia: Aquaculture Market (Crustaceans) Forecast: Production Volume (in ‘000 Tons), 2024-2032
Figure 21: Saudi Arabia: Aquaculture Market (Others): Production Volume (in ‘000 Tons), 2018 & 2023
Figure 22: Saudi Arabia: Aquaculture Market (Others) Forecast: Production Volume (in ‘000 Tons), 2024-2032
Figure 23: Saudi Arabia: Aquaculture Market (Pelagic Fish): Consumption Volume (in ‘000 Tons), 2018 & 2023
Figure 24: Saudi Arabia: Aquaculture Market (Pelagic Fish) Forecast: Consumption Volume (in ‘000 Tons), 2024-2032
Figure 25: Saudi Arabia: Aquaculture Market (Freshwater and Diadromous Fish): Consumption Volume (in ‘000 Tons), 2018 & 2023
Figure 26: Saudi Arabia: Aquaculture Market (Freshwater and Diadromous Fish) Forecast: Consumption Volume (in ‘000 Tons), 2024-2032
Figure 27: Saudi Arabia: Aquaculture Market (Crustaceans): Consumption Volume (in ‘000 Tons), 2018 & 2023
Figure 28: Saudi Arabia: Aquaculture Market (Crustaceans) Forecast: Consumption Volume (in ‘000 Tons), 2024-2032
Figure 29: Saudi Arabia: Aquaculture Market (Demersal Fish): Consumption Volume (in ‘000 Tons), 2018 & 2023
Figure 30: Saudi Arabia: Aquaculture Market (Demersal Fish) Forecast: Consumption Volume (in ‘000 Tons), 2024-2032
Figure 31: Saudi Arabia: Aquaculture Market (Others): Consumption Volume (in ‘000 Tons), 2018 & 2023
Figure 32: Saudi Arabia: Aquaculture Market (Others) Forecast: Consumption Volume (in ‘000 Tons), 2024-2032
Figure 33: Saudi Arabia: Aquaculture Market (Marine Water): Volume Trends (in ‘000 Tons), 2018 & 2023
Figure 34: Saudi Arabia: Aquaculture Market (Marine Water) Forecast: Volume Trends (in ‘000 Tons), 2024-2032
Figure 35: Saudi Arabia: Aquaculture Market (Fresh Water): Volume Trends (in ‘000 Tons), 2018 & 2023
Figure 36: Saudi Arabia: Aquaculture Market (Fresh Water) Forecast: Volume Trends (in ‘000 Tons), 2024-2032
Figure 37: Saudi Arabia: Aquaculture Market (Brackish Water): Volume Trends (in ‘000 Tons), 2018 & 2023
Figure 38: Saudi Arabia: Aquaculture Market (Brackish Water) Forecast: Volume Trends (in ‘000 Tons), 2024-2032
Figure 39: Saudi Arabia: Aquaculture Market: Sales through Traditional Retail (in ‘000 Tons), 2018 & 2023
Figure 40: Saudi Arabia: Aquaculture Market Forecast: Sales through Traditional Retail (in ‘000 Tons), 2024-2032
Figure 41: Saudi Arabia: Aquaculture Market: Sales through Supermarkets and Hypermarkets (in ‘000 Tons), 2018 & 2023
Figure 42: Saudi Arabia: Aquaculture Market Forecast: Sales through Supermarkets and Hypermarkets (in ‘000 Tons), 2024-2032
Figure 43: Saudi Arabia: Aquaculture Market: Sales through Convenience Stores (in ‘000 Tons), 2018 & 2023
Figure 44: Saudi Arabia: Aquaculture Market Forecast: Sales through Convenience Stores (in ‘000 Tons), 2024-2032
Figure 45: Saudi Arabia: Aquaculture Market: Sales through Online Channel (in ‘000 Tons), 2018 & 2023
Figure 46: Saudi Arabia: Aquaculture Market Forecast: Sales through Online Channel (in ‘000 Tons), 2024-2032
Figure 47: Saudi Arabia: Aquaculture Market: Sales through Other Distribution Channels (in ‘000 Tons), 2018 & 2023
Figure 48: Saudi Arabia: Aquaculture Market Forecast: Sales through Other Distribution Channels (in ‘000 Tons), 2024-2032
List of Tables
Table 1: Saudi Arabia: Aquaculture Market: Key Industry Highlights, 2023 and 2032
Table 2: Saudi Arabia: Aquaculture Market Forecast: Breakup by Fish Type (in ‘000 Tons), 2024-2032
Table 3: Saudi Arabia: Aquaculture Market Forecast: Breakup by Environment (in ‘000 Tons), 2024-2032
Table 4: Saudi Arabia: Aquaculture Market Forecast: Breakup by Distribution Channel (in ‘000 Tons), 2024-2032
Table 5: Saudi Arabia: Aquaculture Market Structure
Table 6: Saudi Arabia: Aquaculture Market: Key Players