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Saudi Arabia Seafood Market Sails with 4.8% CAGR: Rising Demand, Government Support & Shrimp Surge Propel Growth

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Saudi Arabia’s seafood market is casting a wider net, propelled by a rising tide of consumer demand, supportive government policies, and a booming shrimp segment. Ken Research’s ‘Saudi Arabia Seafood Market Outlook to 2028′ report forecasts a steady growth of 4.8% CAGR between 2022 and 2028, offering enticing opportunities for stakeholders in this evolving market. This press release dives into the report’s key findings, highlighting the market’s growth drivers, challenges, and promising future.
Market Overview: A Healthy Catch for the Economy
Saudi Arabia’s seafood market plays a crucial role in contributing to the country’s food security and diversifying its economy. With a current market size of $1.07 billion, the demand for seafood is expected to reach $1.46 billion by 2028, propelled by several factors:

Rising Demand: Increasing awareness about the health benefits of seafood, coupled with growing disposable incomes and urbanization, is driving demand for a wider variety of seafood products.
Government Support: Initiatives like the National Aquaculture Strategy and the Fish Farming Development Program are actively promoting domestic fish production and aquaculture, further strengthening the market.
Diversification Drive: Recognizing the potential of the sector, the government is encouraging investments in seafood processing and infrastructure development, aiming to reduce reliance on imports.

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Market Segmentation: Casting a Wider Net
The report segments the Saudi Arabia seafood market by product type, distribution channel, and regional distribution:

Product Type: Fish is the most consumed seafood type, accounting for 45% of the market value in 2022. However, shrimp is the fastest-growing segment, expected to witness a CAGR of 4.75% during the forecast period, driven by increasing demand and domestic production.
Distribution Channel: The on-trade segment (restaurants and hotels) currently dominates the market, accounting for 55% of the market value in 2022. However, the off-trade segment (supermarkets and hypermarkets) is expected to witness faster growth due to changing consumer preferences and convenience.
Regional Distribution: Major cities like Riyadh, Jeddah, and Dammam account for the majority of seafood consumption, but smaller cities and rural areas are expected to contribute to future growth.

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Competitive Landscape: A School of Diverse Players
The market features a mix of established players and emerging ones:

Leading Seafood Distributors: Sea Land Seafood Trading Co., Arab Fisheries Co., and Al Faisal Fisheries Co. are major players with extensive distribution networks and brand recognition.
International Seafood Suppliers: Companies like Thai Union and Cargill cater to the demand for imported seafood varieties.
Emerging Aquaculture Players: The rise of local aquaculture farms like National Aquaculture Group and Rubban Fisheries Trading Company is increasing domestic production and diversifying product offerings.

Challenges: Rough Waters Ahead
Despite its promising future, the Saudi Arabia seafood market faces some challenges:

Limited Domestic Production: The country largely relies on imports for its seafood needs, making it vulnerable to fluctuations in global prices and supply chain disruptions.
Inadequate Infrastructure: Limited cold storage facilities and underdeveloped logistics networks pose challenges for efficient distribution and quality control.
Skilled Workforce Shortage: The lack of trained professionals in aquaculture and seafood processing hinders the industry’s growth potential.

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Future Outlook: Navigating Towards Smoother Sailing
Despite these challenges, the Saudi Arabia seafood market is expected to maintain its positive trajectory, driven by several factors:

Continued Government Support: Continued investments in domestic production, infrastructure development, and capacity building initiatives will provide a significant boost.
Technological Advancements: The adoption of advanced technologies like aquaculture automation and traceability solutions will enhance efficiency and sustainability.
Growing E-commerce: The surge of e-commerce platforms like noon and Amazon is creating new avenues for online seafood sales, particularly in the off-trade segment.

Key Takeaways for Stakeholders:
This report provides valuable insights for various stakeholders in the Saudi Arabia seafood market, including:

Investors: Identifying lucrative investment opportunities in aquaculture, processing facilities, and cold chain infrastructure.
Seafood Suppliers: Understanding evolving consumer preferences, expanding product offerings, and adapting to changing distribution channels.
Government Agencies: Formulating policies and regulations that support sustainable aquaculture practices, attract foreign investments, and address the skilled workforce shortage.
Consumers: Gaining insights into the safety and sustainability of seafood products, with government initiatives contributing to improved quality and responsible sourcing.

Conclusion:
Conclusion: Chart Your Course in Saudi Arabia’s Booming Seafood Market
The Saudi seafood market simmers with promise, fueled by rising demand, government backing, and a surging shrimp segment. But navigating its currents requires deeper understanding.
Ken Research’s “Saudi Arabia Seafood Market Outlook to 2028” report serves as your comprehensive guide, providing:

Granular segmentation: Dive beyond trends to understand specific product types, distribution channels, and regional markets.
Competitive landscape analysis: Identify key players, their strengths, and formulate winning strategies.
Future predictions: Navigate market currents with confidence using informed forecasts on growth trends, technologies, and challenges.
Actionable insights: Gain practical guidance on investment opportunities, entry strategies, and navigating regulations.

Taxonomy
KSA Seafood Market Segmentation
By Type
Fish
Shrimps
Crustaceans
Others (Lobsters, Mullusks and more)
By Form
Fresh
Frozen
Primary Processed
Secondary Processed
By Fish
Frozen
Fresh
Primary Processed
Secondary Processed
By Shrimp
Fresh
Frozen
Primary Processed
Secondary Processed
By Crustaceans
Fresh
Frozen
Primary Processed
Secondary Processed
By others (Lobsters, Mullusks and more)
Fresh
Frozen
Primary Processed
Secondary Processed
By Place of Retail
Off-Trade
On- Trade
By Off-Trade
Offline
Online
By On Trade
Restaurants
Hotels
Catering
Others (food trucks, cloud kitchens and other un-organized food sellers)
By Offline
Traditional Markets
Hypermarkets
By Major Region
Western Region
Central Region
Eastern Region
Sothern Region
Northern Region
KSA Processed Seafood Market Segmentation
By Type of Processing
Primary
Secondary
By Fish
Primary Processed
Secondary Processed
By Shrimp
Primary Processed
Secondary Processed
By Crustaceans
Primary Processed
Secondary Processed
By others (Lobsters, Mullusks and more)
Primary Processed
Secondary Processed
By Primary Processing
Filleting
Portioning
Skinning
Others (Cleaning, heading, slaughtering and more.)
By Secondary Processing
Dried
Smoked
Breaded
Others (Pickling, marinating, brining and more.)
By Place of Retail
Off-Trade
On- Trade
By Place of Retail for Primary Processing
Off-Trade
On- Trade
By Major region
Western Region
Central Region
Eastern Region
Sothern Region
Northern Region
KSA Distribution & Retail Seafood Market Segmentation
By Distribution Channel
Wholesale Channels
Direct Retail
By Type of wholesale
Fish
Shrimp
Crustaceans
Others
By Major region
Western Region
Central Region
Eastern Region
Sothern Region
Northern Region
KSA Fish Feed Market Segmentation
By Type
Fish
Shrimps
Crustaceans
Others (Sea cucumber, mussels and more.)
By End-Users
E-Commerce
Retail
Others
By Form
Pellet
Granules
Sticks
Flakes
Powder and Others
By End User
Nutritional Feed
Medication Feed
Environmental Feed
Algae- Based Feed
Color enhancing Feed
Others
By Type of Trade
Domestic
Import
By Distribution Channel
Wholesale
Direct Retail
By Major City
Jeddah
Jazan
Dammam
Others (Makkah, Tabuk, Madinah.)
For More Insights On Market Intelligence, Refer To The Link Below: –
KSA Seafood and Fish Feed Market
Related Reports by Ken Research: –
Global Snack food Market Outlook to 2027 Driven by changing consumer lifestyles, increasing urbanization, and a rising preference for convenient and on-the-go food options
The global snack food market is expected to reach USD 304306 Mn from 2022 to 2027, with a projected increase in market size driven by changing consumer preferences, urbanization, and a rising demand for convenience foods. A major growth driver in the snack food market will be the increasing consumer focus on health and wellness. There is a growing demand for snacks that are not only tasty but also nutritious.
Europe Wheat protein Market Outlook to 2028 Driven by growing demand for plant-based protein and rising Health and Wellness awareness
Europe wheat protein market is expected to show constant increase and is expected to grow at a CAGR of ~6% from 2022 to 2028 with increasing focus of concerning health issues. Wheat protein market is expected to grow from 2022-2028 due to factors like increase in trust on organic farming, growing demand of wheat protein, and increase in number of gyms and fitness centers in Europe.
US Meat Snack Market Outlook to 2028 Driven by increasing demand of high protein and nutrients meat snacks by fitness enthusiasts and youngsters to remain healthy and active
The meat snack market is finding huge acceptance from the audience who are searching for quick sources of nutrients and protein in their hectic lifestyle. As a result, the us meat market is expected to grow significantly in the future. Currently, USA’s 73% population consume meat food items as a result the market for meat snacks is increasing growing with a CAGR of 2% in the last 5 years. Meat snacks such as beef jerky, beef sausages, beef sticks, and cold-crafted link attract a wide range of customers.
US Functional Flour Market outlook to 2028 Types (Pre-cooked Flour, and Specialty Flour); By Application (Bakery, Savory Snacks, Soups & Sauces, Ready-to-Eat products, and others); By Geography (North, East, West, and South)
According to Ken Research, this market is anticipated to grow at a CAGR of ~7% in between 2022-2028 owing to rise in allergy cases, rapid urbanization and technological advancements along with rise in demands and sales of gluten free products. Functional Flours can be best described as alternative options to traditional flours with high nutritional content.
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Huawei Launches a Wide Range of Net5.5G Solutions to Inspire New Growth of Carriers

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During MWC Barcelona 2024, the Net5.5G-oriented products and solutions were launched by the President of Huawei’s Data Communication Product Line, Leon Wang. He noted that new ultra-broadband applications such as immersive terminals and AIGC have brought new opportunities to carriers. In addition, networks need to continuously evolve towards the future. In 2023, Huawei and industry partners defined the Net5.5G target network architecture and key capabilities such as ubiquitous 10 Gbps access, 400GE converged transport, hyper-converged data centers, and network autonomy and self-optimization. At this event, centering on “Bringing Net5.5G into Reality, Inspire New Growth”, Huawei has launched four solutions tailored to Net5.5G, covering mobile backhaul, enterprise campus, converged transport, and data center network, to fully support carriers’ business success.
Net5.5G Mobile Backhaul: Ultra-broadband is the foundation of ultimate experience. The access ring of mobile backhaul needs to be upgraded to 100GE to meet the traffic requirements of ultra-broadband applications. In addition, experience optimization is required to provide better mobile experience and improve the ARPU. Huawei’s base station routers provide the comprehensive access capabilities with 25/50/100/400GE to achieve network construction with optimal TCO. This solution is compatible with 4G, 5G, and 5G-A transport, protecting investment. Leveraging Network Digital Map, the solution provides industry leading application-level experience visualization and optimization, achieving zero congestion for VIP services and accelerating user experience monetization
Net5.5G High-Quality 10 Gbps Campus: Carriers are expanding their scope of services from traditional private lines to enterprise campus networks. This opens up a new blue ocean for digital managed network services, enriches B2B product portfolios, and increases revenue. Huawei has launched the world’s first all-scenario Wi-Fi 7 series products. And it helps carriers improve their competitive edge and avoid homogenized competition through high-density access, video experience assurance and intelligent O&M with Network Digital Map, accelerating their transformation from ISPs to MSPs.
Net5.5G Converged Transport: By providing more services on one network, carriers can realize new values of private lines and private networks. Huawei provides high density 400GE covering metro and core to carry numerous 10Gbps connections. Tenant-level slicing private lines, low-latency path selection, and application-level visualization are used to implement network servitization, accelerate network resource monetization, and increase revenue.
Net5.5G Hyper-Converged DCN: The computing power leasing service can help carriers achieve new growth in addition to IDC equipment room and private cloud services. Huawei uses the high density 800GE data center network (DCN) to provide efficient computing power and plug-and-play, significantly reduced deployment time. The industry leading NSLB algorithm increases the network throughput from 50% to 98% and improves the training efficiency by 20%.
Leon Wang wrapped up the launch with the following parting words: “Huawei will work with industry partners to promote network evolution from conceptualization to deployment, bring Net5.5G into reality, and inspire new growth for carriers.”
MWC Barcelona 2024 will be held from February 26 to February 29 in Barcelona, Spain. During the event, Huawei will showcase its latest products and solutions at stand 1H50 in Fira Gran Via Hall 1.
With the 2024 commercial launch of 5.5G, Huawei is collaborating with operators and partners around the world to pursue exciting new innovation in networks, cloud, and intelligence. Together, we will drive 5G business and foster a thriving industry ecosystem, creating a new era for intelligent digital transformation. For more information, please visit: https://carrier.huawei.com/en/events/mwc2024.
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Exclusive Interview: ATFX Chairman Joe Li with CNBC Arabia

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ATFX Chairman Joe Li was recently interviewed by CNBC Arabia, one of the leading business and financial news programs in the Middle East, to discuss the brand’s local development.  Throughout the interview, the host engaged in a comprehensive and professional dialogue that covered the brand’s local development progress, service philosophy, and market regulations.
ATFX Chairman Joe Li stated, “ATFX is dedicated to creating a platform that is convenient for investors, allowing them to trade quickly, safely, and efficiently. We prioritize the specific needs of our local clients by providing localized services. Our AT Premier service, launched in the Middle East, is continuously updated to provide high-quality investor education.”
The interview mainly focuses on the brand’s initiatives and measures in the local context. ATFX was ranked among the top four globally in MT4 trading volume in 2023, demonstrating its advanced financial technology tools, premium services, and extensive investor education content. ATFX’s exceptional achievements persist in enhancing its worldwide impact, attracting the interest of diverse international media establishments.
The interview conducted with CNBC Arabia marks a significant milestone in ATFX’s journey towards greater recognition this year. ATFX anticipates receiving further acknowledgement and media coverage as they continue to demonstrate unwavering dedication towards excellence in service.
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Smart Collaborates with 6D Technologies to Enhance Sales and Distribution Capabilities

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6D Technologies, an innovative telecom solutions provider, announces a collaborative partnership with Smart Communications, Inc. (Smart), the wireless unit of PLDT, the Philippines’ largest, fully integrated telco network, to revolutionize its sales and distribution operations, offering comprehensive solutions to meet the evolving needs of the industry.
Through this collaboration, 6D Technologies and Smart will streamline key sales and distribution processes, automate inventory management, optimize resource utilization, and enhance overall dealer operational efficiency. By leveraging 6D Technologies’ Ventas, an artificial intelligence (AI)-driven Sales and Distribution Management platform, Smart aims to elevate its operational excellence further and reinforce its leadership position in the telecommunications sector, driving growth and delivering superior services to its customers.
“As part of our transformation journey and our quest to reinforce our leadership, we continue to create collaborations to further lift our operational excellence, making sure that these partnerships will naturally progress and translate to much improved user experience for the customers of Smart,” said John Y. Palanca, First Vice President and Head of Sales and Distribution at Smart.
6D Technologies’ Ventas Dealer Management System (DMS) is designed to boost operational efficiencies and elevate the overall customer journey for the distribution partners of Smart. With this new system, the user experience of Smart’s distribution partners will be significantly transformed, giving them tools to operate more efficiently.
“We will continue to push to enhance our operational efficiencies to ensure that we are able to deliver the highest level of quality of service, particularly to our distribution partners as our customers, who are the North Star of everything that we do,” said Jac N. Bocalan, Vice President and Head of Customer Development Strategies and Support at Smart.
Manish Arora, Executive Director & Chief Revenue Officer of 6D Technologies, expressed his enthusiasm about the collaboration, stating, “We are thrilled to partner with Smart to empower their sales and distribution networks with our innovative DMS solution. By combining our expertise with Smart’s extensive reach and market presence, we aim to redefine industry standards and deliver unparalleled value to customers.”
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