Increased fish cultivation in the country is driving the growth of Saudi Arabia Aquaculture Market, in the forecast period, 2022-2026.
According to TechSci report on, “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”, 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. Saudi Arabia aquacultures market owes its growth to the factors like rising demand of seafood among the consumers in the country. The aquatic animals culturing of aqua farming is the controlled process of breeding, rearing, harvesting, and cultivation of aquatic animals and aqua culture, like fishes, shell fishes, algae, etc. The aquaculture is for the food production, restoration of the habitats, aquarium buildings, etc. The advantages of the aquaculture is 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 the market growth exponentially. Also, the country is also involved in the import and export of aquatic animals as seafood in other countries thereby driving the market growth in the upcoming future. Although, the market may face a restraint due to quality assurance regulations that are changing in the importing countries.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on “Saudi Arabia Aquaculture Market”
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 product, 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 has aided to the same harbouring 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 the 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. 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 surge in the demand of fishes for the food as well as the 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.
A partial list of market player in the Saudi Arabia aquaculture market includes 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 the technology, it is appropriate to say that the effective research and development of the technologically advanced services would support the market growth and benefit the market players as well as the consumers. New market players may focus on the research and development to provide services that satisfies the 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 inclining 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 the 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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