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Analysis of Fisheries and Aquaculture Sector in Saudi Arabia - Fishes and Invertebrates with Production, Consumption, Import and Export Data - Growth, Trends, and Forecast (2018 - 2023)

  • ID: 4663690
  • Report
  • Region: Saudi Arabia
  • 95 pages
  • Mordor Intelligence
UP TO OFF
until Dec 31st 2019
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The fisheries and aquaculture sector in Saudi Arabia was valued at USD 331.1million, in 2017 and is expected to register a CAGR of 3.1% during the forecast period (2018 - 2023). Among the population in Saudi Arabia, 96% of the Saudi’s consume fish and fish related food in a consistent manner. The fish is included in the Saudi’s diet on a weekly average of 2 times.

About 94% of the expats in Saudi Arabia is considered to consume fish and fish products regularly. The weekly intake of consumption is higher among expats, than the Saudis, with 3 meals per week as the average consumption of fish diets. About 90% of total population in Saudi Arabia consumes fish at home and the supply for the fish is majorly from local markets, which is mostly of fresh/chilled fish in nature. The supermarkets also supply fresh/chilled fish times to the population.

The Fastest Market Growing Segment by Type – Unprocessed Fish

Saudi Arabia occupies 80% of the Arabian Peninsula land surface, and has a unique geographical location. The length of its coastal belt along the Red Sea and Gulf exceeds 2400 km, which has made the country a rich source of a wide variety of fish and other marine products suitable for commercial exportation (particularly marine species). The factor is attributed to favorable climate conditions, availability of water, good land, and suitable environment. After the Seventh Initiation for Fisheries Development, launched by the Agricultural Development Fund and the Ministry of Agriculture, the country is expected to achieve self-sufficiency in terms of sea products, by reaching a production volume of 1 million metric ton of seafood by 2029.

Rapid Increase in Consumption Demand

Demand for fish in Saudi Arabia is most likely to exceed the sustainable potential of the fishery resources of Saudi Arabia, particularly of groupers. The local demand for shrimp has also increased recently, while catches have been low, in contrast to the pre-invasion period, resulting in a smaller surplus for export, and rising prices. Since 2012, the domestic demand for seafood has increased drastically. The demand for fish is expected to soar to an all-time high of around 286,000 metric ton by 2025, due to the steady population growth.

Extreme Meteorological and Hydrological Conditions

Limited availability of suitable sites with suitable soil and access to freshwater, insufficient tidal amplitude for land-based culture, and restrictions in the availability of suitable marine sites still affect aquaculture development in the region. Furthermore, the harsh weather is a challenge in the region and can restrict the economic productivity of land-based aquaculture systems. In Saudi Arabia, highly fluctuating air temperature and high water evaporation rates can induce water temperature and salinities to rise above acceptable levels for many farmed species. Also, there are cases of sewage outfalls, which deposit high concentrations of nutrients that result in conditions unfit for fish cultivation, thus, constraining the market growth.

Key Developments

Apr 2018, Commercial fish farming has risen up by country’s food security agenda which has increased the aquaculture production in Saudi Arabia.
Jun 2017, Saudi Arabia’s National Aquaculture Group (NAQUA) has received official approval from the Ministry of Trade and Investment to register its new brand "Bahri" as an approved trademark.

Report Offerings

UAE Fruits and Vegetables market offers latest trends, growth prospects, industry competitiveness, major players, regional market share and forecast to 2023.

Reasons to Purchase the Report
  • To have an understanding of the fastest growing regions in the analysis of fisheries and aquaculture sector in Saudi Arabia and growth trends during the forecast period
  • The report outlines drives, restraints, and trends that are currently effecting the market
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • The report covers in-detail insights about the competitors’ overview and company share analysis
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report

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1. Introduction
1.1 Definition of the Market
1.2 Research Approach and Methodology
1.2.1 Introduction
1.2.2 Research Design
1.2.3 Study Phases
1.3 Scope of the Report
1.4 Regional Analysis
1.4.1 PESTLE Analysis
1.4.2 Analysis of Ease of Doing Business

2. Market Dynamics
2.1 Drivers
2.1.1 Growing Government Support to the Sector
2.1.2 Rapid Increase in Demand
2.1.3 Increasing Sale of Fish via Social Network Platforms
2.2 Restraints
2.2.1 Extreme Meteorological and Hydrological Conditions
2.2.2 Fishing Bans in the Country
2.2.3 Decline in Employment by the Fisheries Sector
2.3 Opportunities
2.3.1 Rising Number of Agreements for Aquaculture Promotion
2.3.2 Rising Government Support
2.4 Market Demand Analysis
2.4.1 Available Products Types (Segmentation)
2.4.2 Identification of Target Subsegments (Demand Estimation)
2.4.3 Socio-Economic Segmentation of Potential Consumers
2.4.4 Spending Patterns
2.5 Porter's Five Forces Analysis
2.5.1 Bargaining Power of Suppliers
2.5.2 Bargaining Power of Buyers
2.5.3 Threat of New Entrants
2.5.4 Threat of Substitute Products
2.5.5 Degree of Competition
2.6 Marketing and Product Placement Overview
2.6.1 Marketing Channels Overview
2.6.2 Strategies for Product Launch
2.6.3 Retail Overview: Types of Fisheries and Aquaculture Products in the Market (per Segmented Category)

3. Market Segmentation (Fisheries and Aquaculture Products)
3.1 By Type
3.1.1 Unprocessed
3.1.1.1 Fresh, Chilled
3.1.1.1.1 Market Size (USD Million)
3.1.1.1.2 Domestic Production Overview
3.1.1.1.3 Domestic Consumption Overview
3.1.1.2 Frozen
3.1.1.2.1 Market Size (USD Million)
3.1.1.2.2 Domestic Production Overview
3.1.1.2.3 Domestic Consumption Overview
3.1.2 Processed
3.1.2.1 Market Size (USD Million)
3.1.2.2 Domestic Production Overview
3.1.2.3 Domestic Consumption Overview

4. International Trade Overview
4.1 Unprocessed
4.1.1 Fresh, Chilled
4.1.1.1 Import Value & Volume
4.1.1.2 Export Value & Volume
4.1.1.3 Current & Future Market Prospects
4.1.2 Frozen
4.1.2.1 Import Value & Volume
4.1.2.2 Export Value & Volume
4.1.2.3 Current & Future Market Prospects
4.2 Processed
4.2.1 Import Value & Volume
4.2.2 Export Value & Volume
4.2.3 Current & Future Market Prospects

5. Market Entry
5.1 Market Entry: The Strategy
5.1.1 Types of Entry Modes, by Market Entry Objectives
5.1.2 Competition Analysis
5.1.2.1 Local Supply Ecosystem
5.1.2.2 Market Share of Major Stakeholders
5.1.2.3 Strategies Adopted, Recent Events
5.1.3 Pricing Strategy
5.1.4 Processing & Packaging Ecosystem
5.1.5 Supply Chain Analysis
5.1.5.1 Trade (Import-Export Analysis)
5.1.5.2 Distribution Network & Retail Analysis
5.1.6 Market Entry: The Administration
5.1.6.1 How to Register a Company
5.1.6.2 Registration Processes
5.1.6.2.1 Ministries Involved
5.1.6.2.2 Criteria and Conditions
5.1.6.3 List of Forms & Documents
5.1.6.4 Product Control Guidelines Specified by the Government

6. Sources

7. Disclaimer
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