GCC Shrimp Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 3.1% (2024-2032)
The GCC shrimp market is expanding due to rising seafood demand, hospitality growth, sustainable practices, and technological advancements in aquaculture. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 3.1% from 2024 to 2032.
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GCC Shrimp Market Trends and Drivers:
The GCC shrimp market is experiencing notable growth, largely driven by the rising consumer demand for seafood as a healthier protein alternative. The expansion of the hospitality and food service sectors, supported by a growing expatriate population with diverse dietary preferences, further propels market growth. Additionally, key players in the region are increasingly focusing on diversifying economies and reducing reliance on oil, leading to greater investments in aquaculture and seafood processing industries, which bolster local shrimp production. The growing popularity of Asian cuisines and the increasing consumer preference for convenience foods, such as ready-to-cook and ready-to-eat shrimp products, are also contributing to the market's expansion across the region.
Emerging trends in the GCC shrimp market include a stronger emphasis on sustainable and responsible shrimp farming practices, driven by rising consumer environmental awareness and the growing demand for ethically sourced seafood. The shift towards organic shrimp products, appealing to health-conscious consumers seeking natural and chemical-free options, is another key growth driver. Technological advancements in aquaculture, such as recirculating aquaculture systems (RAS) and biofloc technology, are enhancing shrimp yield and sustainability, further expanding the market. Moreover, the rise of online retail and e-commerce platforms offering seafood delivery services is making it more convenient for consumers to access fresh and frozen shrimp products, which is expected to continue driving the shrimp markets growth in GCC in the coming years.
GCC Shrimp Market Report Segmentation:
The report has segmented the market into the following categories:
Species Insights:
- Penaeus Vannamei
- Penaeus Monodon
- Macrobrachium Rosenbergii
- Others
Shrimp Size Insights:
- Size <21
- Size 21-25
- Size 26-30
- Size 31-40
- Size 41-50
- Size 51-60
- Size 61-70
- Size >70
Distribution Channel Insights:
- Hypermarkets and Supermarkets
- Convenience Stores
- Hotels and Restaurants
- Online Sales
- Others
Country Insights:
- Saudi Arabia
- UAE
- Qatar
- Oman
- Kuwait
- Bahrain
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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.
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.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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