Analysis of the Fisheries and Aquaculture Sector in Saudi Arabia - Fishes and Invertebrates with Production, Consumption, Import and Export Data and Trends (2017 - 2022)

Saudi Arabia, with the largest population of 30.77 million, in the GCC, has recognized fisheries and aquaculture as a priority sector for diversification. The market for fisheries and aquaculture in Saudi Arabia was worth USD XX million as of 2015 and is expected to grow at a CAGR of XX% over 2016-2022.

An increase in population, affluence, preference for protein-rich food, impetus by the government to increase self-sufficiency in terms of food, and the country having a 2,400 km long coastline conductive for aquaculture, which is a rich resource of finfish and shellfish have spurred the growth of fisheries and aquaculture in the country. While Saudi Arabia has the lowest consumption per capita per annum local supply is still insufficient to meet the demand, leading to 91% of domestically consumed fish being imported. This demand is increasing at a CAGR of XX% per annum. An amplified proportion of western expats and influence of western diets is augmenting the demand for fish and processed fish. With such a large potential resource for aquaculture, and demand far outstripping supply, fisheries in Saudi Arabia is at the start of a period of high growth.

Restraints and Challenges
Constraints to this sector include a lack of knowledge dissemination, poor management of resources due to the ?tragedy of the commons?, and a lack of labor incidence from the Philippines, Bangladesh, and India.

Companies for fish processing services and fish rearing management can conduct business in Saudi Arabia, under the precipice of the Foreign Investment Law through SAGIA (Saudi Arabia General Investment Authority). The government provides active support in R&D, technology transfer, marketing support and manpower training. Furthermore, the country provides fingerlings of native species, establishing aquaculture frameworks, relaxing institutional and investment barriers, and charting suitable sites for development.

Key Developments

? The Jazan Economic City, one of the four economic cities will come equipped with fish processing infrastructure and units along ports. Towards this end, ports and harbors are being developed to further consolidate the fisheries and aquaculture ecosystem in the country.
? SAGIA is to gather investments worth USD 0.3 billion by 2016, and USD 1.5 billion by 2025 in Blue Biotech, a marine biotechnology company, so as to spearhead further research in the fisheries and aquaculture sector. Furthermore, half of the funding for R&D will be sourced through King Abdulaziz City for Science and Technology (KACST).
? Saudi Arabia is one of the largest stakeholders in the large-scale fisheries and aquaculture project in Oman, which aims to produce high-value fish like shrimps. This project is being headed by the Emirates Star Fisheries.
? The Ministry of Agriculture in Saudi Arabia recently announced an investment of USD 8 billion to be made in the country?s aquaculture sector over the next 15 years.

Source-Fisheries and Aquaculture Department- FAO

Key Deliverables in the Study
o PESTLE analysis (overview): Macro market factors pertinent to this region.
o Market definition: Main as well as associated/ancillary components constituting the market.
o Key findings of the study: Top headlines about market trends & numbers.
o Market dynamics:
? Drivers: Key factors driving growth in the market.
? Restraints: Most relevant threats and restraints hindering the growth of the market.
? Opportunities: Sectors of high return or quick turnaround on investment.
? Market concentration: Porter?s five forces analysis quantified by a comprehensive list of parameters.
o Chain analysis.
o Competition:
? Market share analysis: Top players in the market (by value and volume)
? Company profiles: Pertinent details about leading, high growth, and innovation-motivated stakeholders; with contact, operations, product/service offerings, financials, strategies, and insights.

1. Introduction

1.1 Definition of the Market

1.2 Research Approach and Methodology

1.2.1 Introduction

1.2.2 Research Design

1.2.3 Study Phases

1.3 Scope of the Report

1.4 Regional Analysis

1.4.1 PESTLE Analysis

1.4.2 Analysis of Ease of Doing Business

2. Market Dynamics

2.1 Drivers

2.2 Restraints

2.3 Opportunities

2.4 Market Demand Analysis

2.4.1 Available Products Types (Segmentation)

2.4.2 Identification of Target Subsegments (Demand Estimation)

2.4.3 Socio-Economic Segmentation of Potential Consumers

2.4.4 Spending Patterns

2.5 Porter's Five Forces Analysis

2.5.1 Bargaining Power of Suppliers

2.5.2 Bargaining Power of Buyers

2.5.3 Threat of New Entrants

2.5.4 Threat of Substitute Products

2.5.5 Degree of Competition

2.6 Marketing and Product Placement Overview

2.6.1 Marketing Channels Overview

2.6.2 Strategies for Product Launch

2.6.3 Retail Overview: Types of Fisheries and Aquaculture Products in the Market (per Segmented Category)

3. Market Segmentation (Fisheries and Aquaculture Products)

3.1 By Type

3.1.1 Unprocessed Fresh, Chilled Market Size (USD Million) Domestic Production Overview Domestic Consumption Overview Frozen Market Size (USD Million) Domestic Production Overview Domestic Consumption Overview

3.1.2 Processed Market Size (USD Million) Domestic Production Overview Domestic Consumption Overview

4. International Trade Overview

4.1 Unprocessed

4.1.1 Fresh, Chilled Import Value & Volume Export Value & Volume Current & Future Market Prospects

4.1.2 Frozen Import Value & Volume Export Value & Volume Current & Future Market Prospects

4.2 Processed

4.2.1 Import Value & Volume

4.2.2 Export Value & Volume

4.2.3 Current & Future Market Prospects

5. Market Entry

5.1 Market Entry: The Strategy

5.1.1 Types of Entry Modes, by Market Entry Objectives

5.1.2 Competition Analysis Local Supply Ecosystem Market Share of Major Stakeholders Strategies Adopted, Recent Events

5.1.3 Pricing Strategy

5.1.4 Processing & Packaging Ecosystem

5.1.5 Supply Chain Analysis Trade (Import-Export Analysis) Distribution Network & Retail Analysis

5.1.6 Market Entry: The Administration How to Register a Company Registration Processes Ministries Involved Criteria and Conditions List of Forms & Documents Product Control Guidelines Specified by the Government

6. Sources

7. Disclaimer

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