Saudi Arabia Seafood Market Forecast Report and Company Analysis 2025-2033 Featuring Almunajem Foods, Arab Fisheries, IZAFCO, Saudi Fisheries Co, Shell Fisheries, Tabuk Fisheries, The Savola Group

Market Overview - The Saudi Arabia seafood market is projected to grow from US$ 0.98 billion in 2024 to US$ 1.23 billion by 2033, with a compound annual growth rate (CAGR) of 2.58% from 2025 to 2033 [1][17]. Growth Drivers - Increasing consumer health consciousness and demand for sustainable protein sources are driving the growth of the seafood market [2]. - Government initiatives aimed at diversifying the economy away from oil and promoting sustainable fishing practices are contributing to market expansion [2][5]. - Technological advancements in aquaculture are enhancing the sustainability and economic viability of local seafood production [2][8]. Government Initiatives - The Saudi government is investing in the aquaculture industry as part of its Vision 2030 project, aiming to increase aquaculture production to 600,000 tons by 2030 [7]. - Significant capital expenditures, subsidies, and incentives are being provided to promote local fish production and enhance food security [6]. Technological Innovations - Innovations in aquaculture, such as recirculating aquaculture systems (RAS) and automated feeding, are improving production yields and sustainability [8][9]. - Enhanced cold chain logistics and processing technologies are increasing the quality and freshness of seafood products [8]. Consumer Trends - Growing awareness of the nutritional benefits of seafood, including high protein and omega-3 fatty acids, is driving increased consumption [10][11]. - Health organizations are promoting seafood as a healthier dietary option, further boosting demand [12]. Export Potential - Saudi Arabia is focusing on expanding its seafood exports to meet both domestic and international demand [3][4]. - Investments in seafood processing and distribution infrastructure are essential for establishing a significant presence in the global fish market [3]. Challenges - Overfishing and sustainability concerns pose significant challenges to the seafood sector, with illegal fishing practices exacerbating the depletion of fish stocks [13]. - Despite efforts to increase domestic production, Saudi Arabia remains heavily reliant on seafood imports, which exposes the market to global price fluctuations and supply chain disruptions [14][16].