Based on the forecasted data, the export of frozen fish from Saudi Arabia is expected to decline over the next five years. In 2023, the value stood at $2 million. The forecast for 2024 is $1.8814 million, which shows a year-on-year decrease of 5.94%. For 2025, the value is projected to decline further to $1.7415 million, a decrease of 7.43% compared to 2024. The trend continues with a projected value of $1.6045 million for 2026, reflecting a 7.87% decrease from 2025. By 2027, it’s expected to drop to $1.4701 million (an 8.37% decrease from 2026), and by 2028, it’s forecasted to reach $1.3385 million, showing an 8.94% decrease from 2027. The Compound Annual Growth Rate (CAGR) for the period from 2024 to 2028 is approximately -7.89%, indicating a persistent downward trend.
Future trends to watch for include potential market shifts due to changes in global demand for seafood, advancements in aquaculture technologies within Saudi Arabia, and possible changes in international trade policies. Additionally, monitoring the sustainability and environmental regulations could also play a significant role in the export dynamics of the frozen fish market.
