The demand for freshwater fish in Saudi Arabia has demonstrated notable fluctuations from 2014 to 2023. The value stood at 153.31 thousand metric tons in 2023, showcasing a modest year-on-year increase of 0.96%. Historically, the demand saw a decline of 5.74% in 2015, followed by a significant rise of 16.26% in 2016. Recent years have experienced steadier growth, particularly from 2021 to 2023 with a CAGR of 0.96%.
Key trends observed:
- 2014-2016: Major fluctuations with a sharp increase in demand post-2015.
- 2017-2023: Consistent but modest growth, reflecting market stabilization.
- Short-term impact in 2020 due to a notable decline of 16.13%, likely due to pandemic-related disruptions.
Future Trends to Watch For:
- Projected steady growth at a 5-year CAGR of 0.78%, reaching 160.51 thousand metric tons by 2028.
- Potential impacts of technological advancements in aquaculture and changing consumer preferences.
- Regulatory changes and environmental concerns influencing sustainable fish farming practices.