Market Size of Kuwait Fisheries and Aquaculture Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 7.40 % |
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Kuwait Fisheries and Aquaculture Market Analysis
The Kuwait fisheries and aquaculture market is projected to register a CAGR of 7.4% during the forecast period.
- Aquaculture development is still incipient in Kuwait although the commercial production of gilthead seabream and Sobaity seabream in floating cages in Kuwait bay was started in 1997. Aquaculture activities are expanded in order to supplement local landings from capture fisheries.
- In Kuwait, government support for the sector, the rapid increase in demand from consumers, and the increasing sale of fish via social network platforms are some of the drivers of the market. Through these customers have much greater flexibility in bargaining for fish, along with timely delivery. Also, with changing lifestyles, this trend is expected to augment the sale of seafood. This increasing consumption is resulting in the country being import-dependent to meet domestic demand.
- Through the UK Gulf Marine Environment Partnership (GMEP) Programme, the UK Government's Centre for Environment, Fisheries and Aquaculture Science (Cefas) is collaborating with Gulf region partners to improve sustainable fishing and combat biodiversity loss. Cefas provides the most comprehensive range of applied marine and freshwater science, and its Kuwait office launched in June 2020. This will help to reduce the dependence on imports and tends to increase self-sufficiency of production of the country. The growing production to meet the rising seafood consumption indicates the growth of the market in the country.
