Fishing bans and a decline in employment by the sector are the restraints to the growth of the aquaculture market in the country. The high consumption of seafood by the people in the country further fuels the growth of the market. The growth of the Aquaculture market in Saudi Arabia is mainly attributed to the growing government support of the market. According to the Food and Agriculture Organization, of Saudi Arabia’s total of 7,572 km coastline, around 2,400 km is suitable for aquaculture development along the Red Sea in the west and the Arabian Gulf in the east.
Saudi Arabia has been one of the top producers and exporters of seafood internationally mainly because of the favorable environmental conditions.
The reproducing, raising, and harvesting of plants and animals happens in a wide range of water environments including ponds, rivers, lakes, the ocean, and man-made “closed” systems on land. Aquaculture extensively alludes to the cultivation of aquatic organisms in controlled aquatic conditions for any commercial, recreational or public motive. Saudi Arabia aquaculture market was evaluated at US$503.225 million for the year 2019 and is projected to grow at a CAGR of 7.98% to reach US$861.448 million in 2026.