Market Size of Bahrain Fisheries and Aquaculture Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 4.30 % |
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Bahrain Fisheries & Aquaculture Market Analysis
The Bahraini Fisheries and aquaculture market is projected to grow at a CAGR of 4.3% during the forecast period.
- The Bahraini Fisheries and aquaculture sector is a niche market and the government represented by the Directorate of Fisheries, has established the National Mariculture Centre (NMC), to undertake applied research in the field. The NMC is the source of marine fish seed for all Gulf Cooperation Council (GCC) countries and other member countries of the Regional Commission for Fisheries (RECOFI). The country can likewise earn foreign exchange through the export of aquatic products. In the long run, investment in the development of an aquaculture sector is expected to contribute to the food security and self-sufficiency of Bahrain.
- Shopping through e-commerce sites has been trending in the present days due to the advantage of product accessibility and the better reach of the products to the consumers. Thus, the sale of fisheries products through online portals is expected to increase in the coming years.
- The Ministry of Agriculture is exerting considerable effort to fully develop aquaculture in suitable coastal and interior areas to augment food security and self-sufficiency. With consumption likely to continue to rise, aquaculture has become the most realistic way to meet the demand. Recently, government initiatives to enhance domestic production have also been increasing. These factors are strenghtening the growth of the market during the forecast period.
