Page 21 - Vol.38-No.2

FISHERIES

building (PEMB) for the farm. uaculture and the use of technology Edward Island, Canada, and Indiana,
q:H DUH SODQQLQJ DQ RIÞFLDO JURXQG- for improving its productivity and sus- United States, Aqua Bounty is raising
breaking ceremony and will communi- tainability. The Company’s objective salmon that is free of antibiotics and oth-
cate the details in the coming weeks. is to help ensure the availability of er contaminants, in land-based Recir-
This marks an incredibly exciting high-quality seafood to meet global culating Aquaculture Systems (“RAS”)
milestone for AquaBounty and a time consumer demand, while addressing which are designed to prevent disease
to celebrate with, and thank the Village critical production constraints in the DQG WR LQFOXGH PXOWLSOH OHYHOV RI ÞVK
of Pioneer, Williams County, and the most popular farmed species. FRQWDLQPHQW WR SURWHFW ZLOG ÞVK SRS-
State of Ohio, for their on-going sup- The Company’s genetically engi- ulations. AquaBounty’s solution offers
port,” concluded Wulf. neered salmon program is based upon a reduced carbon footprint and no risk
D VLQJOH VSHFLÞF PROHFXODU PRGLÞFD- of pollution of marine ecosystems, as
About AquaBounty tion in salmon that results in more rap- compared to traditional sea-cage farm-
AquaBounty Technologies, Inc is a id growth in early development. With ing. For more information.
OHDGHU LQ WKH ÞHOG RI ODQG EDVHG DT- aquaculture farms located in Prince Please visit www.aquabounty.com
Circle 27 on enquiry card
SAUDI ARABIA FISHERIES AND AQUACULTURE SECTOR

- GROWTH, TRENDS, AND FORECASTS (2022 - 2027)

The market is segmented by Type growth and increase in consumption
into unprocessed (fresh, chilled, and per capita, expected to generate an ad-
IUR]HQ DQG SURFHVVHG ÞVK 7KH DWWULE- ditional demand of 500,000 ton in 2030.
utes, such as production, consumption With the government commitment to
import, and export trends, have been the growing industry, introduced the
evaluated for unprocessed and pro- plan “Vision 2030” in 2016. The plan
cessed products. focuses on building safe and strategic
food. The project “Vision 2030” aims to
Market Overview increase production to 530 thousand ton
The Saudi Arabia Fisheries and Aqua- by 2030. As a result, there is increased
culture Market is projected to register a interest from local as well as interna-
CAGR of 4.1% during the forecast peri- invertebrates. The market has been tional investors for either expanding
RG 7KH GULYHUV LGHQWLÞHG segmented on the basis of type, into ÞVK RU DTXDFXOWXUH IDUPLQJ
in this market are growing government fresh/chilled, frozen, and processed Processed Fish Segment is likely to
support to the sector, the rapid increase ÞVK 7KH UHSRUW LGHQWLÞHV NH\ IDFWRUV :LWQHVV 6LJQLÞFDQW *URZWK
in demand, and the increasing sale of instrumental in changing the market Saudi Arabia is mostly dependent
ÞVK YLD VRFLDO QHWZRUN SODWIRUPV scenario, exploiting new opportunities, on the developing countries in South
The aquaculture sector in the coun- and gaining competitive edge. and Southeast Asia, South America, and
try has grown rapidly over the past Key Market Trends Africa, toward meeting its domestic de-
several years making the country the PDQG IRU ÞVK DQG ÞVK SURGXFWV 3UR-
top regional producer and an exporter Government support for the FHVVHG ÞVK VKULPSV OREVWHUV FDYLDU
of seafood worldwide. This growth is aquaculture industry FXWWOHÞVK VDUGLQHV VDOPRQ DQG WXQD
mainly due to the highest product safety The demand for seafood is increasing are mainly imported from Korea, Thai-
and traceability standards, state-of-the- in the country, owing to a shift toward land, the Philippines, India, Bahrain,
art technology, and rigorous biosecu- protein-rich diets and increased de- Bangladesh, United Arab Emirates,
rity. Contrary to landings from capture mand for various aqua species, such as and Malaysia. According to the Saudi
ÞVKHULHV GRPHVWLF DTXDFXOWXUH RXWSXW shrimp and oysters. The average per Society of Agricultural Sciences, as
KDV LQFUHDVHG VLJQLÞFDQWO\ RYHU WKH FDSLWD FRQVXPSWLRQ RI ÞVK LQ WKH FRXQ- most of the seafood in the Kingdom is
past few years. Despite the increased try was peaked at 11 kg during 2017-18, imported from other countries, their
supply from aquaculture, the domestic while the global average stood at 19 prices are usually high.
market still relies heavily on imports. kg. To meet the domestic requirement
Saudi Arabia is mostly dependent on country is dependent on imports.
the developing countries in South and In order to reduce import depend- Processed tuna is consumed 2-3
Southeast Asia, South America, and ency, the government has undertaken times a week, which is a staple source
Africa, toward meeting its domestic various production-oriented initiatives of diet, while other processed frozen
GHPDQG IRU ÞVK DQG ÞVK SURGXFWV to meet the growing seafood per capita ÞVKHV OLNH %DVD FRQVXPHG RQFH D ZHHN
RU WZLFH D ZHHN 2WKHU ÞVK YDULHWLHV
Scope of the Report consumption within the country. Na- such as hamour, salmon are exotic
tional food security is a key part of the and consumed for special occasions.
The report contains an analysis of government’s plan to improve the qual-
YDULRXV DVSHFWV RI WKH ÞVKHULHV DQG ity of life in the region and increasing There are several seafood companies
aquaculture sector in Saudi Arabia. The WKH HIÞFLHQF\ DQG FRPSHWLWLYHQHVV RI in Saudi Arabia in which some compa-
study includes the market dynamics locally produced food products is one nies have processing plants, imports
related to the production, consump- of its strategic initiatives. Growing lo- even exports like Arab Fisheries Co,
WLRQ LPSRUW DQG H[SRUW RI ÞVKHV DQG cal consumption, driven by population Izalco LLC, Sami Hamad Est, and Saudi
ÞVKHULHV FRPSDQ\
19
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