Over the past decade, Saudi Arabia's crustaceans import volume has exhibited a declining trend, starting from 15.28 thousand metric tons in 2014 to 13.05 thousand metric tons in 2023. The most significant decrease occurred in 2020, when the volume dropped by 17.74% year-on-year. However, the period from 2021 to 2023 saw some recovery with minor fluctuations. The compound annual growth rate (CAGR) for the past five years stands at -0.95%, indicating a gradual decline.
From the forecasted data, this declining trend is expected to continue, with the import volume projected to decrease to 12.39 thousand metric tons by 2028. The forecasted five-year CAGR is -0.76%, resulting in an overall reduction of 3.75% by 2028.
Future trends to watch for include changes in global crustaceans supply chains, potential increases in domestic production, and shifts in consumer preferences driven by health and sustainability concerns.
