From 2013 to 2023, the import of crustaceans to Saudi Arabia has shown significant variability. Starting at $67.03 million in 2013, the imports reached $118.24 million in 2023. Notable yearly fluctuations include a sharp increase of 49.53% in 2014, declines in 2015 and 2016, followed by recovery and growth in subsequent years. The largest year-on-year variation saw a peak in 2014, while 2023 witnessed a modest increase of 3.75%. The compound annual growth rate (CAGR) over the last five years stands at 3.57%.
Forecasts suggest a continued upward trend, with imports expected to rise to $140.27 million by 2028. The five-year CAGR forecast is 2.74%, reflecting steady growth.
Future Trends to Watch:
• Increasing demand in the Saudi market for diverse seafood options.
• Potential impacts of economic policies and global trade agreements.
• Advances in aquaculture and shipping logistics improving supply.
• Changes in consumer preferences towards healthier and sustainable food choices.
