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GCC Seafood Market Size

The GCC seafood market is experiencing growth, with fish holding the largest market share due to increasing health consciousness and a preference for nutrient-rich diets. The region's extensive coastlines support local fisheries, while shrimp is emerging as the fastest-growing segment, driven by its appeal for weight loss diets. Saudi Arabia and the United Arab Emirates are key players, with significant initiatives to boost production and reduce costs, thereby enhancing market capacity. Bahrain is also focusing on fish farming to ensure food security and self-sufficiency. The market's expansion is supported by rising income levels and a growing appetite for seafood among the population.

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Market Size of gcc seafood Industry

GCC Seafood Market Summary
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svg icon Study Period 2017 - 2029
svg icon Market Size (2024) USD 3.54 Billion
svg icon Market Size (2029) USD 3.84 Billion
svg icon Largest Share by Type Fish
svg icon CAGR (2024 - 2029) 1.63 %
svg icon Largest Share by Country United Arab Emirates
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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GCC Seafood Market Analysis

The GCC Seafood Market size is estimated at 3.54 billion USD in 2024, and is expected to reach 3.84 billion USD by 2029, growing at a CAGR of 1.63% during the forecast period (2024-2029).

3.54 Billion

Market Size in 2024 (USD)

3.84 Billion

Market Size in 2029 (USD)

2.68 %

CAGR (2017-2023)

1.63 %

CAGR (2024-2029)

Largest Segment by Type

72.74 %

value share, Fish, 2023

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The region's demand for fish is fueled by a range of factors, including fish's lower price, greater nutritional value, and ease of availability due to increased production.

Largest Segment by Country

38.60 %

value share, United Arab Emirates, 2023

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UAE dominates the market as there is a growing demand for organic fish, that is being driven by high-income immigrants and buyers who support sustainable seafood.

Fastest-growing Segment by Type

2.59 %

Projected CAGR, Shrimp, 2024-2029

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Regional government adding an effort to increase the local production of shrimps in Bahrain, Saudi Arabia, UAE, and others for makes shrimp a promising market segment.

Fastest-growing Segment by Country

2.44 %

Projected CAGR, Bahrain, 2024-2029

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The surging sales of fish is driving the Bahrain market. Local consumers favor domestic seafood because they believe it is sustainably farmed and of acceptable quality.

Leading Market Player

1.92 %

market share, The Deep Seafood Company, 2022

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The Deep Seafood Company primarily offers a wide range of seafood products to the market with international food safety and quality standards.

Saudi Arabia dominates the regional market with the assistance of strategic investments and partnerships

  • In 2022, fish occupied the largest share among all other seafood variants in the market. The sales value grew at a CAGR of 2.37% over 2017-22. The increasing health consciousness among the population and preference toward a nutrient and protein-rich diet without added cholesterol components is leading consumers to spend more on different varieties of fish like sardines, salmon, and tuna. The region of the GCC, apart from hosting extensive desert lands, comprises miles of coastline that assist in the growth of local fisheries.
  • Shrimp is estimated to be the fastest-growing seafood segment in the Middle East over the forecast period. Most shrimp in the region are imported from Asian countries like India, Pakistan, and China. Shrimps are an ideal choice for consumers opting for a protein-rich weight loss diet. Obesity is a pressing issue in GCC, with Kuwait, Jordan, and Saudi Arabia having more than 25% of their population identified as obese as of 2023, expanding the opportunity for the shrimp industry to flourish in the region.
  • Saudi Arabia is one of the significant countries in the region, occupying one of the highest shares in the market over the study period. The country launched the National Fisheries Development Program as a part of its Vision 2030 to raise a fund of USD 4 billion in 2022. This fund is expected to increase infrastructure and develop the workforce for inland fisheries cultivation. The United Arab Emirates proposed fuel subsidies to its fishing sector to reduce operating costs in 2022 in partnership with the UAE Ministry of Climate Change and the Environment, Abu Dhabi National Oil Company, and Emirates National Oil Company.
GCC Seafood Market

Increasing private sector investments in seafood production are driving the demand

  • The United Arab Emirates is the leader in the Middle Eastern seafood market. The seafood consumption per person increased, reaching 25.50 kg in 2021, ranking second only to Oman's 29.01 kg. The demand for seafood products is driven by an expanding population with rising income levels and a growing appetite for fish. Nearly 90% of the Emirati population is made up of immigrants, and the typical meals in the region often include seafood products. Indians make up over 40% of the total population in the United Arab Emirates, followed by Indonesians and Bangladeshis.
  • Saudi Arabia intends to produce 300,000 metric tons of fish by 2025 and 600,000 metric tons by 2030. Private sector investments in the pre-harvest, production, and post-harvest segments of the aquaculture sector witnessed a sharp increase as a result of the initiative. Saudi Arabia's partnership with the Network of Aquaculture Centers in Asia-Pacific (NASA) also aims to increase the nation's seafood production. The higher availability of seafood is expected to increase local demand further.
  • Bahrain is projected to register the fastest CAGR of 5.11% during the forecast period. Fish farming is a crucial sector that the government is relying on to ensure food security, as marine products are a key food item in Bahrain. In 2021, six plots of land were identified as candidates to boost agricultural production and fish farming as part of efforts to ensure the country's food security. The move is expected to achieve 50-62% self-sufficiency in fish. Investing in fish farming has many benefits, such as reducing pressure on natural resources and releasing fish fingerlings raised on the farm into the wild to restock Bahrain’s marine population.

GCC Seafood Industry Segmentation GCC Seafood Industry Segmentation

Fish, Shrimp are covered as segments by Type. Canned, Fresh / Chilled, Frozen, Processed are covered as segments by Form. Off-Trade, On-Trade are covered as segments by Distribution Channel. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates are covered as segments by Country.

  • In 2022, fish occupied the largest share among all other seafood variants in the market. The sales value grew at a CAGR of 2.37% over 2017-22. The increasing health consciousness among the population and preference toward a nutrient and protein-rich diet without added cholesterol components is leading consumers to spend more on different varieties of fish like sardines, salmon, and tuna. The region of the GCC, apart from hosting extensive desert lands, comprises miles of coastline that assist in the growth of local fisheries.
  • Shrimp is estimated to be the fastest-growing seafood segment in the Middle East over the forecast period. Most shrimp in the region are imported from Asian countries like India, Pakistan, and China. Shrimps are an ideal choice for consumers opting for a protein-rich weight loss diet. Obesity is a pressing issue in GCC, with Kuwait, Jordan, and Saudi Arabia having more than 25% of their population identified as obese as of 2023, expanding the opportunity for the shrimp industry to flourish in the region.
  • Saudi Arabia is one of the significant countries in the region, occupying one of the highest shares in the market over the study period. The country launched the National Fisheries Development Program as a part of its Vision 2030 to raise a fund of USD 4 billion in 2022. This fund is expected to increase infrastructure and develop the workforce for inland fisheries cultivation. The United Arab Emirates proposed fuel subsidies to its fishing sector to reduce operating costs in 2022 in partnership with the UAE Ministry of Climate Change and the Environment, Abu Dhabi National Oil Company, and Emirates National Oil Company.
Type
Fish
Shrimp
Other Seafood
Form
Canned
Fresh / Chilled
Frozen
Processed
Distribution Channel
Off-Trade
Convenience Stores
Online Channel
Supermarkets and Hypermarkets
Others
On-Trade
Country
Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
United Arab Emirates
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GCC Seafood Market Size Summary

The GCC seafood market is experiencing a steady growth trajectory, driven by increasing health consciousness and a shift towards protein-rich diets. Fish, particularly varieties like sardines, salmon, and tuna, dominate the market due to their nutritional benefits. The region's extensive coastline supports local fisheries, while shrimp emerges as the fastest-growing segment, largely imported from Asian countries. The market is bolstered by initiatives such as Saudi Arabia's National Fisheries Development Program and the UAE's fuel subsidies for the fishing sector, aimed at enhancing infrastructure and reducing operational costs. The UAE leads in seafood consumption per capita, with a significant portion of its population being expatriates who contribute to the high demand for seafood.

Saudi Arabia and the UAE are key players in the GCC seafood market, with substantial investments in aquaculture and fisheries development. Saudi Arabia aims to significantly increase its fish production by 2030, supported by private sector investments and partnerships with international aquaculture centers. Bahrain is also focusing on fish farming to ensure food security and self-sufficiency. Despite challenges like overfishing and high fish prices, the market is expected to grow sustainably, supported by public and private partnerships, research investments, and strategic agreements among major industry players. The market remains fragmented, with leading companies like Blue Island PLC and Oman Fisheries Co. SAOG playing pivotal roles in its expansion.

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GCC Seafood Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD, Forecasts up to 2029 and analysis of growth prospects)

    1. 1.1 Type

      1. 1.1.1 Fish

      2. 1.1.2 Shrimp

      3. 1.1.3 Other Seafood

    2. 1.2 Form

      1. 1.2.1 Canned

      2. 1.2.2 Fresh / Chilled

      3. 1.2.3 Frozen

      4. 1.2.4 Processed

    3. 1.3 Distribution Channel

      1. 1.3.1 Off-Trade

        1. 1.3.1.1 Convenience Stores

        2. 1.3.1.2 Online Channel

        3. 1.3.1.3 Supermarkets and Hypermarkets

        4. 1.3.1.4 Others

      2. 1.3.2 On-Trade

    4. 1.4 Country

      1. 1.4.1 Bahrain

      2. 1.4.2 Kuwait

      3. 1.4.3 Oman

      4. 1.4.4 Qatar

      5. 1.4.5 Saudi Arabia

      6. 1.4.6 United Arab Emirates

GCC Seafood Market Size FAQs

The GCC Seafood Market size is expected to reach USD 3.54 billion in 2024 and grow at a CAGR of 1.63% to reach USD 3.84 billion by 2029.

In 2024, the GCC Seafood Market size is expected to reach USD 3.54 billion.

GCC Fish Market Report Snapshots

GCC Seafood Market Size & Share Analysis - Growth Trends & Forecasts Up To 2029