Valued at $7.8 billion in 2024, the GCC seafood market is projected to reach nearly $12.5 billion by 2032, growing at a 6% compound annual growth rate (CAGR) between 2025 and 2032.
Seafood remains a key source of protein and a staple in regional diets, with rising demand fueled by population growth, health awareness, and culinary traditions. The UAE leads the market in per capita seafood consumption—33.4 kg per person in 2023, marking a 45% increase since 2020. GCC-wide, seafood consumption topped 900,000 tonnes.
The market’s expansion is also driven by major investments in aquaculture. Saudi Arabia, for example, grew its aquaculture production by 150% since 2020, reaching 100,000 tonnes in 2023 and attracting investments exceeding $1.15 billion. Tourism is another key driver, especially in Qatar, where hospitality sector seafood demand jumped 85% in 2023, with seafood-themed restaurants increasing 200% since 2020.
Oman also strengthened its supply chain by boosting seafood processing capacity by 70% in 2023, reducing post-harvest losses and improving cold chain logistics.
Key trends shaping the market include rising demand for sustainably sourced seafood, growth in aquaculture production, increased preference for processed and ready-to-eat seafood products, and expanding regional import-export activities.
The UAE and Saudi Arabia lead market growth, with the UAE serving as a major trading hub and Saudi Arabia ramping up local production under Vision 2030 initiatives.
Fish remains the dominant product category, while crustaceans are the fastest-growing segment, buoyed by demand for high-value seafood like shrimp and lobster.
Retail-wise, supermarkets and hypermarkets continue to dominate, but online sales are growing fast due to the rising popularity of e-commerce grocery platforms.
Key market players include Al Baik Seafood, National Fisheries Corporation, Abu Dhabi National Foodstuff Company, Al Islami Foods, and Al-Watania Poultry—all contributing to a dynamic and evolving market landscape.
Source: verifiedmarketresearch.com
