Based on actual data from 2013 to 2023, fish farming production in Saudi Arabia grew significantly, reaching 147.12 thousand metric tons in 2023. This growth represents a substantial overall increase, with fish farming production experiencing notable year-on-year variations. For instance, the annual growth rate jumped to 157.72% in 2014 after a decline in 2013 and continued with a positive trajectory varying between 4.91% to 37.75% in the subsequent years. Over the last five years, from 2018 to 2023, the compound annual growth rate (CAGR) averaged at 15.35% annually.
Future trends indicate a moderately steadier growth trajectory, with production expected to reach 226.08 thousand metric tons by 2028. Year-on-year growth rates are projected to stabilize around 6.73% CAGR over the next five years, marking a 38.5% total growth by 2028.
Future trends to watch for include:
- Technological advancements in aquaculture and sustainable practices.- Government policies and investments in the fish farming sector.- Market demand dynamics both domestically and internationally.- Environmental considerations and adaptation to climate change impacts.- Potential partnerships and collaborations with global aquaculture stakeholders.
