The market for pelagic fish feed in Saudi Arabia has shown significant growth from 2014 to 2023, increasing from 46.05 thousand metric tons to 95.81 thousand metric tons. Over the past two years (2022-2023), the market experienced a modest year-on-year growth of approximately 2.94%. The Compound Annual Growth Rate (CAGR) over the last five years stands at 3.28%, indicating steady growth. Notable spikes were observed in 2015 (9.49%) and 2016 (54.3%), followed by a stabilization phase with lower year-on-year growth rates.
Future trends to watch for include:
- The forecasted continued growth with a five-year CAGR of 1.99% and an overall growth rate of 10.38% from 2023 to 2028.
- Potential impacts of environmental and economic policies on the aquaculture and pelagic fish feed sectors.
- Technological advancements in fish feed formulations improving efficiency and sustainability.
- Emerging market demands and possible shifts towards more sustainable and ethical sourcing of fish feed ingredients.
