IMARC Group, a leading market research company, has recently releases report titled “GCC Shrimp Market Report by Species (Penaeus Vannamei, Penaeus Monodon, Macrobrachium Rosenbergii, and Others), Shrimp Size (Size <21, Size 21-25, Size 26-30, Size 31-40, Size 41-50, Size 51-60, Size 61-70, Size >70), Distribution Channel (Hypermarkets and Supermarkets, Convenience Stores, Hotels and Restaurants, Online Sales, and Others), and Country 2024-2032”. The study provides a detailed analysis of the industry, including the GCC shrimp market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the GCC Shrimp Market?
The GCC shrimp market size is projected to exhibit a growth rate (CAGR) of 3.1% during 2024-2032.
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GCC Shrimp Market Trends and Drivers:
The GCC shrimp market is experiencing significant growth, driven by the rising consumer demand for seafood as a healthier protein alternative. Additionally, the expanding hospitality and food service sectors, owing to the elevating expatriate population with diverse dietary preferences, are also bolstering the market growth. In line with this, the inflating focus by key players on enhancing their economies and minimizing dependence on oil revenues have led to investments in aquaculture and seafood processing industries, thereby supporting local shrimp production. Moreover, the rising popularity of Asian cuisines, along with the increasing consumer preference for convenience foods, such as ready-to-cook and ready-to-eat shrimp products, are also driving the market growth across the country.
Emerging trends in the GCC shrimp market include the growing emphasis on sustainable and responsible shrimp farming practices, driven by the elevating consumer environmental concerns and the inflating demand for ethically sourced seafood. In addition to this, the shifting inclination towards organic shrimp products, catering to the increasing number of health-conscious individuals looking for natural and chemical-free options, is acting as another growth-inducing factor. Furthermore, the market is further expanded by technological advancements in aquaculture, including recirculating aquaculture systems (RAS) and biofloc technology, improving shrimp yield and sustainability. Besides this, the increasing number of online retail and e-commerce platforms offering seafood delivery services, making it easier for consumers to access fresh and frozen shrimp products, is anticipated to escalate the GCC shrimp market over the forecasted period.
GCC Shrimp Market Report Segmentation:
The report is organized into distinct sections as follows:
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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Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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