Oman Fisheries and Aquaculture Market Size (2024 - 2029)

Oman Aquaculture Market Analysis

The Oman Fisheries and Aquaculture Market size is estimated at USD 636.78 million in 2024, and is expected to reach USD 860.22 million by 2029, growing at a CAGR of 6.20% during the forecast period (2024-2029).

In addition to the severe implications on people's health and the healthcare services, the COVID-19 outbreak had a significant impact on sales of various businesses, including fisheries and aquaculture, in 2020. After the first case of COVID-19 was reported in Oman, the government responded quickly to enforce various preventive measures such as social distancing and closing of public places. These measures significantly impacted the fisheries and aquaculture sector in Oman due to disruption in both the market forces of demand and supply. The travel restrictions and social distancing measures had a massive impact on brick-and-mortar retail. As the demand from the hospitality, restaurant, and catering sectors represented a significant share of fish consumption, a negative impact was observed from the demand side.

Oman is one of the largest fish producers in the GCC region and a net exporter of fish and fish products. The fisheries and aquaculture sector is the most important and oldest sector in Oman. The Oman Aquaculture Development Company (OADC), under its National Food Security Program, planned to double production from about 200,000 metric tons in 2016 to 480,000 metric tons in 2020. The Ministry for Agriculture and Fisheries is focusing on increasing aquaculture production to 2,20,000 metric tons, with a value of USD 883 million by 2030. Oman's environmental advantage provides a high potential for the development of aquaculture, and there is a strong commitment from the government to develop this sector in a competitive and sustainable manner in harmony with the social, economic, cultural, and historical values of the country.

Oman Aquaculture Industry Segmentation

The commercial production of aquatic species, namely, fish (pelagic fish types, demersal fish types, freshwater fish types, caviar, and salmon) and other edible aquatic species (scallop, shrimp, lobsters, and other species) produced through the country's fisheries and aquaculture sector have been considered for the purpose of the market study.

The Omani fisheries and aquaculture market is segmented by type (pelagic fish, demersal fish, freshwater fish, scallop, shrimp, lobsters, caviar, and other types). The report offers the market size and forecasts in terms of volume in metric tons and value in USD thousand for all the above segments.