Increased fish cultivation in the country is driving the growth of the Saudi Arabia Aquaculture Market, in the forecast period, 2022-2026. According to TechSci report on, “Saudi Arabia Aquaculture MarketBy Type (Fisheries, Seaweeds, Microalgae, Crustaceans, Mollusks, Others) By Culture (Freshwater, Brackish Water, Marine) By Distribution Channel (Specialty Stores, Supermarkets/Hypermarkets, Online) By Region, Competition Forecast & Opportunities, 2026”, Saudi Arabia aquacultures market has shown promising growth in historical years until 2019 and is expected to continue its growth in upcoming forecast years 2021 to 2026.
The Important Elements of Saudi Arabia Aquaculture Market Forecast
Saudi Arabia aquacultures market owes its growth to the factors like rising demand for seafood among consumers in the country. The aquatic animal culturing of aqua farming is the controlled process of breeding, rearing, harvesting, and cultivation of aquatic animals and aquaculture, like fishes, shellfish, algae, etc. Aquaculture is for food production, restoration of habitats, aquarium buildings, etc. The advantages of aquaculture are further driving the growth of the Saudi Arabia aquaculture market in the next five years.
Aquaculture is one of the important sources of food in the country that drives market growth exponentially. Also, the country is involved in the import and export of aquatic animals as seafood in other countries thereby driving market growth in the upcoming future. Although, the market may face restraint due to quality assurance regulations that are changing in the importing countries.
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Saudi Arabia aquaculture market is segmented by type, culture, distribution channel, regional distribution, and competitional landscape. Based on culture, the market is further bifurcated into freshwater, brackish water, and marine. Owing to the rising demand for seafood products, the marine segment is anticipated to register the fastest-growing CAGR in the upcoming five years. Moreover, the regulations toward fish capturing from the smaller water bodies have aided in the same harboring and capture from marines in the subsequent five years. Furthermore, technological advancements like water recirculation systems are supporting the growth of the segment in the upcoming five years. Also, for the higher nutrient content in marine life as compared to the other cultures, the market may register the growth substantially in the market.
Based on type, the market is further segmented into fisheries, seaweeds, microalgae, crustaceans, mollusks, and others. The fisheries segment is anticipated to hold the largest shares of the market and may dominate the market segment in the subsequent five years to come on the account of a surge in the demand for fishes for food as well as residential pets. For the further decoration of the aquariums at home, the consumers are also inclined toward seaweeds and microalgae and thus they may register significant growth in the next five years.
The Major competitors in Saudi Arabia aquaculture market
- National Aquaculture Group (NAQUA)
- Saudi Fisheries Company
- Arabian Shrimp Company
- Asmak
- Jazadco Fisheries
- Tabuk Fisheries Company
- Arab Fisheries Co
- Izalco LLC
- Sami Hamad Est
- Saudi fisheries company, among others. These market players hold larger shares of the market than the new market players. With the advancement of technology, it is appropriate to say that the effective research and development of technologically advanced services would support market growth and benefit the market players as well as the consumers. New market players may focus on research and development to provide services that satisfy consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments and better service provisions.
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“Increasing urbanization, rising disposable income, and inclination of the meat consumers toward seafood are aiding the growth of the Saudi Arabia aquaculture market in the upcoming five years. New market players may focus on the proper and healthy culture of the aquatic animals. Consumers are inclined due to their concerns over health and with the claims and confirmations that follow the regulation norms toward best product availability, they may build a brand for themselves. The country supports a huge market for aquaculture that is growing with impressive CAGR, if players devise methods to provide fresh, authentic, and regulated products that may serve up as better strategic plans for an established market in the future five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Saudi Arabia Aquaculture Market By Type (Fisheries, Seaweeds, Microalgae, Crustaceans, Mollusks, Others) By Culture (Freshwater, Brackish Water, Marine) By Distribution Channel (Specialty Stores, Supermarkets/Hypermarkets, Online) By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of Saudi Arabia aquacultures market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Saudi Arabia aquacultures market.
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