Middle East Seafood Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 2.10% (2024-2032)
The Middle East seafood market is experiencing rapid growth, driven by increasing urbanization, rising disposable incomes, and a growing preference for healthier and more sustainable food options. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 2.10% from 2024 to 2032.
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Middle East Seafood Market Trends:
The Middle East seafood market is driven by a combination of cultural preference for seafood and rapid urbanization leading to increased consumer spending on food. The region’s growing hospitality sector, particularly luxury hotels and resorts that highlight seafood as a key aspect of gourmet cuisine, further fuels demand. The growth in health awareness among the population also plays a critical role, as seafood is perceived as a healthier protein alternative to red meat, aligning with global health trends.
Additionally, government initiatives aimed at diversifying economies through tourism and luxury dining experiences are leading to increased investments in local aquaculture projects, which are expected to sustainably meet the rising demand for seafood. Technological advancements in refrigeration and logistics are enabling better distribution channels, ensuring seafood remains a staple in diets across the region.
Middle East Seafood Market Scope & Growth Analysis:
The scope of the market includes a broad range of fresh, frozen, and processed seafood products distributed through various channels from large-scale retail to luxury dining. The market is witnessing substantial growth due to the rising middle-class population and the consequent increase in disposable income, which allows for greater expenditure on premium food products.
Furthermore, the expansion of organized retail sectors and modern grocery outlets across the region provides more accessible platforms for the distribution of seafood, enhancing consumer reach. The strategic geographic position of the Middle East also facilitates extensive seafood trade routes, both as an importer and an exporter, leveraging its access to multiple seas. Future market growth is anticipated to be driven by continuous innovation in seafood farming technologies, increased government support for sustainable fishing practices, and aggressive marketing campaigns promoting seafood consumption as part of a balanced diet.
Middle East Seafood Industry Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest Middle East seafood market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.
Type Insights:
- Fish
- Shrimp
- Others
Form Insights:
- Fresh / Chilled
- Frozen / Canned
- Processed
Distribution Channel Insights:
- Off-Trade
- Convenience Stores
- Online Channel
- Supermarkets and Hypermarkets
- Others
- On-Trade
Country Insights:
- Saudi Arabia
- Turkey
- Israel
- United Arab Emirates
- Iran
- Iraq
- Qatar
- Kuwait
- Oman
- Jordan
- Bahrain
- Others
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant. Some of the key players include:
- Almunajem Foods
- Blue Island PLC
- Enhance Group
- Global Food Industries LLC
- Oman Fisheries Co. SAOG
- Sea Pride LLC
- The Deep Seafood Company
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Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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