Saudi Arabia Shrimp Market Overview, Industry Growth Rate, Research Report 2024-2032

IMARC Group, a leading market research company, has recently releases report titled “Saudi Arabia Shrimp Market Report by Environment (Farmed Shrimp, Wild Shrimp), Species (Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii, and Others), Shrimp Size (<21, 21-25, 26-30, 31-40, 41-50, 51-60, 61-70, >70), Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Hotels and Restaurants, Online Sales, and Others), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the Saudi Arabia Shrimp Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Saudi Arabia Shrimp Market?

Saudi Arabia shrimp market size is projected to exhibit a growth rate (CAGR) of 5.70% during 2024-2032.

Report Attribute	Key Statistics
Base Year	2023
Forecast Years	2024-2032
Historical Years	2018-2023
Market Growth Rate (2024-2032)	5.70%

Saudi Arabia Shrimp Market Trends and Drivers:

The growing domestic need as well as strategic initiatives by government authorities to boost local production are the factors responsible for the growth of the Saudi Arabia shrimp market. Additionally, one prominent trend is the rising consumption of shrimp, fueled by shifting dietary preferences towards high-protein and low-fat foods. Shrimp is increasingly being incorporated into the Saudi diet due to its nutritional benefits and versatility in various culinary applications, which is fueling the market. Moreover, the expanding middle class, with greater disposable income and a penchant for dining out, has also contributed to the surge in shrimp demand.

Another important motivator is the government's attempt to improve aquaculture as part of the Vision 2030 plan, which aims to diversify the economy and attain food security. In addition to this, the Saudi government authorities have been investing heavily in modern aquaculture technologies and infrastructure to boost domestic shrimp production. These investments include the development of advanced breeding and farming techniques to ensure sustainable and efficient shrimp cultivation, which is acting as another growth-inducing factor. Furthermore, collaborations with international experts and organizations are helping to improve local aquaculture practices, thereby escalating the market. Apart from this, the establishment of large-scale shrimp farms along the Red Sea coast is expected to significantly increase production capacity, reducing reliance on imports and enhancing export potential, which is anticipated to drive the Saudi Arabia shrimp market over the forecasted period.

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Leading Companies Operating in the Saudi Arabia Shrimp Industry:

• Almunajem Foods

• Arasco

• Jazan Energy and Development Company

• National Prawn Group

Key Report Segmentation:

The report is organized into distinct sections as follows:

Environment Insights:

• Farmed Shrimp

• Wild Shrimp

Species Insights:

• Penaeus Vannamei

• Penaeus Monodon

• Macrobrachium Rosenbergii

• Others

Shrimp Size Insights:

• <21 

• 21-25

• 26-30  

• 31-40

• 41-50

• 51-60

• 61-70

• >70

Distribution Channel Insights:

• Hypermarkets and Supermarkets

• Convenience Stores

• Hotels and Restaurants

• Online Sales

• Others

Regional Insights:

• Northern and Central Region

• Western Region

• Eastern Region

• Southern Region

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Other Key Points Covered in the Report:

• COVID-19 Impact

• Porters Five Forces Analysis

• Value Chain Analysis

• Strategic Recommendations

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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