GCC Shrimp Market Overview:
The GCC Shrimp Market was worth US$ XX Billion in 2022, expanding at a CAGR of X% during 2017-2022. The market is projected to register a CAGR of X% during 2023-2028, reaching US$ XX Billion by 2028. Shrimp is a decapod crustacean having a semi-transparent and slender elongated body, a compressed abdomen, and a long spiny rostrum. It is widely available in shallow and deep water, freshwater lakes and streams, and has various species. It is a rich source of antioxidants that improve heart and brain health while reducing the risk of various chronic diseases, such as heart attack, stroke, and cancer. It also offers protein, calcium, iron, zinc, sodium, potassium, and phosphorus. It prevents wrinkles and lowers skin damage from ultraviolet radiation (UV) rays. It is used to prepare various dishes, such as shrimp kebabs, creole, gumbo, stew, salad, sandwiches, and burgers. As shrimp is also utilized as a flavoring and base, the demand for shrimp is rising in the GCC region.
At present, the increasing demand for healthy and protein-based diets represents one of the primary factors propelling the market growth in the GCC region. Besides this, the growing demand for convenient food items, such as frozen and ready-to-cook shrimp, due to hectic working schedules and busy lifestyles of individuals is offering a positive market outlook in the region. Moreover, changing dietary patterns of the individuals in the GCC region due to the inflating income levels are presently contributing to the growth of the market. Apart from this, the rising consumption of shrimp to prevent various cardiovascular diseases, such as coronary heart disease, stroke, and aortic disease, is positively influencing the market in the GCC region. Additionally, the wide availability of processed shrimp in ready-to-eat (RTE) packaging through online and offline distribution channels is offering lucrative growth opportunities to industry investors across the region. Furthermore, various benefits offered by shrimp, such as lowering blood pressure, improving eye fatigue, and reducing weight loss, are currently strengthening the market growth in the GCC region.
Beginning with a regional overview, the report explores the dynamics that have a strong influence on the GCC shrimp market and can also impact its future growth. Taking 2022 as the base year, the report covers historical market scenario from 2017-2022 and provides forecasts till 2028. This includes the study of value and volume trends and pricing history. Growth inducing factors, market restraints and recent developments have also been analysed in the report in order to provide a deeper knowledge about the industry. On a regional basis, the report examines the GCC shrimp market in Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. For each of these regions, the report studies the GCC shrimp market in detail for latest trends, outlook and opportunities.
The report analyses the competitive structure of the GCC shrimp market industry and provides the profiles of major players operating in the market. The price margins for the products along with the various success and risk factors for manufacturers have also been covered in the report. Moreover, in order to determine market attractiveness, the report analyses the GCC shrimp market industry along the parameters of the Porter’s Five Forces model. This model examines the degree of competition in the GCC shrimp market industry by analysing the threat posed by new entrants and substitutes, and the bargaining power of suppliers and buyers. SWOT analysis of the market has also been presented in the report which highlights the strengths, weaknesses, opportunities and threats pertaining to the GCC shrimp market industry. Furthermore, the value chain analysis of the GCC shrimp market industry has also been covered in the report. This comprises of all the activities in the value chain, such as the procurement of various raw materials, manufacturing, sales and distribution.
GCC Shrimp Market Segment Insights:
The GCC shrimp market has been analysed as followed:
Segmentation by Species:
Segmentation by Shrimp Size:
Segmentation by Country:
Country-wise, the market has been segmented into Saudi Arabia, United Arab Emirates, Qatar, Kuwait, Oman and Bahrain. Amongst these, Saudi Arabia represents the largest market, accounting for majority of the GCC region.
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Highlights of the GCC Shrimp Market Report:
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