GCC Seafood Market Trends, Share, Size, Demand, Revenue, Competition and Future Outlook
GCC Seafood Market Growth, Size, Trends Analysis- By Type, By Form, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Nov-2024 | Report ID: FOOD24128 | Pages: 1 - 152 | Formats*: |
| Category : Food & Beverages | |||
GCC Seafood Market Introduction and Overview
According to SPER Market Research, the GCC Seafood Market is estimated to reach USD 4.14 billion by 2033 with a CAGR of 1.92%.
The report includes an in-depth analysis of the GCC Seafood Market, including market size and trends, product mix, Applications, and supplier analysis. Seafood refers to all edible aquatic life forms, including fish, shellfish, and other marine species. It provides high-quality protein as well as critical elements such as Omega-3 fatty acids, minerals, and vitamins. Seafood is an important component of many global cuisines, serving as both a key protein source and a delicacy.
- In May 2022, the Gulf Japan Food Fund invested in Oman Fisheries Co SAOG. This enhances Oman Fisheries' potential to grow its reach across global markets.
- In February 2022, Asmak announced a strategic distribution arrangement with Fish Farm, a UAE-based aquaculture company. Under this partnership, Asmak distributes fish farm goods to a larger local and regional audience via its processing plant and strong distribution channels, which include wholesale, foodservice, and retail.
Market Opportunities and Challenges
Opportunities:
- Aquaculture Expansion: To lessen reliance on fish imports and guarantee a more sustainable seafood supply, the GCC nations have started making investments in aquaculture. Investors and other industry participants now have the chance to get involved in the growth of aquaculture farms.
- The expansion of online retail channels and e-commerce platforms offers seafood vendors in the GCC countries a practical and easily accessible way to connect with a larger customer base.
- Partnerships and Collaborations: Working together, governments, research institutes, and industry players may enhance sustainable practices, spur innovation, and tackle shared issues in the seafood sector.
Challenges:
- Environmental Issues: The seafood business faces several significant issues, including overfishing, pollution, and habitat damage. Over time, these variables may have a negative impact on seafood resources' quality and availability.
- Regulatory Obstacles: A number of laws and guidelines pertaining to food safety, sustainability, and traceability apply to the seafood industry. For industry players, adhering to these regulations can be difficult and expensive.
- Supply Chain Complexity: The seafood industry's supply chain is complex, with various stakeholders such as fishermen, processors, wholesalers, and retailers. It might be difficult to keep seafood fresh and of high quality across this supply chain.
Market Competitive Landscape
The GCC seafood market is fragmented, with the top five players accounting for 4.07%. The biggest participants in this industry are Blue Island PLC, National Fishing Company K.S.C., Oman Fisheries Co. SAOG, Sea Pride LLC, and The Deep Seafood Company.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Type, By Form, By Distribution Channel |
| Regions covered | Saudi Arabia, Qatar, Kuwait, United Arab Emirates, Bahrain, Oman. |
| Companies Covered | Albatha Group, Almunajem Foods, Blue Island PLC, Enhance Group Holding Company Limited, National Fishing Company K.S.C, Oman Fisheries Co. SAOG, Sea Pride LLC, The Deep Seafood Company, Thomsun Group, Yamama Al-Baida Gen. Trading & Cont. Est. |
COVID-19 Impact on GCC Seafood Market
The GCC seafood market has been significantly impacted by the COVID-19 pandemic. Reduced fishing activity, processing plant closures, and logistical difficulties were among the interruptions in the seafood supply chain caused by the first wave of the pandemic. But as things settled down, demand increased as more people started cooking at home and looked for healthier food options. When consumers resorted to online buying amid lockdowns and movement restrictions, the pandemic also hastened the adoption of e-commerce platforms for seafood purchases.
By Type Insights: Shrimp is expected to be the fastest-growing seafood segment in the Middle East over the projection period. Most shrimp in the region is imported from Asian countries such as India, Pakistan, and China. Shrimp are an excellent alternative for consumers seeking a protein-rich weight loss diet. Obesity is a major issue in the Gulf Cooperation Council, with more than 25% of the population in Kuwait, Jordan, and Saudi Arabia classified as obese as of 2023, creating opportunities for the shrimp business to thrive in the region.
Key Target Audience
- Retail Consumers
- Foodservice Industry
- Supermarkets and Hypermarkets
- Importers and Distributors
- Government and Regulatory Bodies
- Food Processing Industry
- E-Commerce Platforms
Our in-depth analysis of the GCC Seafood Market includes the following segments:
| By Type: | |
| By Form: | |
| By Distribution Channel | |
| By Region: |
Key Topics Covered in the Report
- GCC Seafood Market Size (FY’2024-FY’2033)
- Overview of GCC Seafood Market
- Segmentation of GCC Seafood Market By Type (Fish, Shrimp)
- Segmentation of GCC Seafood Market By Form (Fresh / Chilled, Frozen / Canned, Processed)
- Segmentation of GCC Seafood Market By Distribution Channel (Off-Trade, On-Trade)
- Statistical Snap of GCC Seafood Market
- Expansion Analysis of GCC Seafood Market
- Problems and Obstacles in GCC Seafood Market
- Competitive Landscape in the GCC Seafood Market
- Impact of COVID-19 and Demonetization on GCC Seafood Market
- Details on Current Investment in GCC Seafood Market
- Competitive Analysis of GCC Seafood Market
- Prominent Players in the GCC Seafood Market
- SWOT Analysis of GCC Seafood Market
- GCC Seafood Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the GCC Seafood Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. GCC Seafood Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in GCC Seafood Market
7. GCC Seafood Market, By Type (USD Million) 2020-2033
7.1. GCC Seafood Market Size, Share and Forecast, By Type, 2020-20267.2. GCC Seafood Market Size, Share and Forecast, By Type, 2027-20337.3. Fish7.4. Shrimp7.5. Other Seafood
8. GCC Seafood Market, By Form (USD Million) 2020-2033
8.1. GCC Seafood Market Size, Share and Forecast, By Form, 2020-20268.2. GCC Seafood Market Size, Share and Forecast, By Form, 2027-20338.3. Canned8.4. Fresh / Chilled8.5. Frozen8.6. Processed
9. GCC Seafood Market, By Distribution Channel (USD Million) 2020-2033
9.1. GCC Seafood Market Size, Share and Forecast, By Distribution Channel, 2020-20269.2. GCC Seafood Market Size, Share and Forecast, By Distribution Channel, 2027-20339.3. Off-Trade
9.3.1. Convenience Stores9.3.2. Online Channel9.3.3. Supermarkets and Hypermarkets9.3.4. Others
9.4. On-Trade
10. GCC Seafood Market Forecast, 2020-2033 (USD Million)
10.1. GCC Seafood Market Size and Market Share
11. GCC Seafood Market, By Region, 2020-2033 (USD Million)
11.1. GCC Seafood Market Size and Market Share By Region (2020-2026)11.2. GCC Seafood Market Size and Market Share By Region (2027-2033)11.3. Saudi Arabia11.4. Qatar11.5. Kuwait11.6. United Arab Emirates11.7. Bahrain11.8. Oman
12. Company Profile
12.1. Albatha Group
12.1.1. Company details12.1.2. Financial outlook12.1.3. Product summary12.1.4. Recent developments
12.2. Almunajem Foods
12.2.1. Company details12.2.2. Financial outlook12.2.3. Product summary12.2.4. Recent developments
12.3. Blue Island PLC
12.3.1. Company details12.3.2. Financial outlook12.3.3. Product summary12.3.4. Recent developments
12.4. Enhance Group Holding Company Limited
12.4.1. Company details12.4.2. Financial outlook12.4.3. Product summary12.4.4. Recent developments
12.5. National Fishing Company K.S.C
12.5.1. Company details12.5.2. Financial outlook12.5.3. Product summary12.5.4. Recent developments
12.6. Oman Fisheries Co. SAOG
12.6.1. Company details12.6.2. Financial outlook12.6.3. Product summary12.6.4. Recent developments
12.7. Sea Pride LLC
12.7.1. Company details12.7.2. Financial outlook12.7.3. Product summary12.7.4. Recent developments
12.8. The Deep Seafood Company
12.8.1. Company details12.8.2. Financial outlook12.8.3. Product summary12.8.4. Recent developments
12.9. Thomsun Group
12.9.1. Company details12.9.2. Financial outlook12.9.3. Product summary12.9.4. Recent developments
12.10. Yamama Al-Baida Gen. Trading & Cont. Est.
12.10.1. Company details12.10.2. Financial outlook12.10.3. Product summary12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
GCC Seafood Market is projected to reach USD 4.14 billion by 2033, growing at a CAGR of 1.92% during the forecast period.
GCC Seafood Market grew in Market size from 2022. The Market is expected to reach USD 4.14 billion by 2033, at a CAGR of 1.92% during the forecast period.
GCC Seafood Market CAGR of 1.92% during the forecast period.
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GCC Seafood Market size is USD 4.14 billion from 2024 to 2033.
GCC Seafood Market Segment is covered By Type, By Form, By Distribution Channel.
The Middle East is anticipated to have the highest Market share in the GCC Seafood Market.
The key players in the Market include Companies Covered Albatha Group, Almunajem Foods, Blue Island PLC, Enhance Group Holding Company Limited, National Fishing Company K.S.C.
It provides high-quality protein as well as critical elements such as Omega-3 fatty acids, minerals, and vitamins.
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