The pelagic fish market in Saudi Arabia has shown a declining trend over the past decade. In 2023, the market size volume stood at 117.48 thousand metric tons, illustrating a 1.46% year-on-year decrease and an average annual decline (CAGR) of -1.43% over the last 5 years. Since 2014, the sector has experienced a general downward trajectory, with significant drops particularly notable in 2015 (-8.8%) and 2020 (-18.23%). It's noteworthy that the volume appears to stabilize somewhat post-2020, although it continues to trend downward slightly year over year.
Future trends to watch for include:
- Impact of environmental and regulatory changes on fish supply.
- Technological advancements in fishing and aquaculture.
- Shifts in consumer preferences towards sustainable sourcing.
- Potential economic factors influencing consumption patterns.
Overall, the forecast predicts a continuation of the decline, with a projected average annual decrease of -1.26% and a total decline of 6.17% by 2028.
