Any marine animal that may be eaten, including fish, shellfish, mollusks (like clams, mussels, oysters, and squid), crustaceans (like shrimp, crab, and lobster), and echinoderms (such sea urchins and sea cucumbers in some cultures), is considered seafood. Omega-3 fatty acids, vitamins, minerals, and high-quality protein are all abundant in it, making it a vital part of international nutrition and cuisine. The world over, seafood is enjoyed for its wide variety of flavors and textures, from the delicate taste of white fish to the saline richness of oysters. In addition to raw preparations like sushi and ceviche, preparation techniques vary by area and culture and include grilling, frying, steaming, and smoking. Seafood is essential to the economy and culture of coastal areas in addition to its culinary appeal.
According to SPER Market Research, ‘GCC Seafood Market Size By Type, By Form, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ states that GCC Seafood market is estimated to reach USD 4.14 billion by 2033 with a CAGR of 1.92%.
In the Gulf Cooperation Council (GCC), a number of important variables are driving the expansion of the seafood business. Consumers are becoming more health conscious, which has raised demand for wholesome, high-protein foods. Seafood is becoming more well-known for its health benefits, which include important nutrients and omega-3 fatty acids. Furthermore, the increasing number of foreigners in the area has increased the demand for seafood in a variety of cuisines due to their varied culinary tastes. The government's efforts to support aquaculture and improve food security are also helping to meet domestic demand and lessen reliance on imports. Improvements in distribution networks and cold chain logistics technology have significantly bolstered fish items' shelf life and accessibility.
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Although the GCC seafood business has room to grow, there are a number of major obstacles in the way. The region's severe weather and scarcity of natural water resources are among the main problems, since they limit local fish production and increase the industry's dependency on imports. The market is vulnerable to price volatility, shifting international trade regulations, and disruptions in the global supply chain as a result of this dependence. The long-term viability and marine biodiversity of area seas are also threatened by overfishing. Aquaculture also confronts challenges like high operating costs, a lack of technological know-how, and environmental problems, despite its growth. The market dynamics are further complicated by consumer concerns over the safety, traceability, and quality of seafood, especially in light of growing knowledge regarding food provenance and sustainability.
Saudi Arabia dominates the GCC seafood sector, leading in both production and consumption, according to the regional survey of the industry. Some of the key players are - Albatha Group, Almunajem Foods, Blue Island PLC, Enhance Group Holding Company Limited, National Fishing Company K.S.C.
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Related Reports:
Frozen and Canned Seafood Market
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