Market Size of Qatar Fisheries and Aquaculture Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 171.58 Million |
| Market Size (2029) | USD 218.99 Million |
| CAGR (2024 - 2029) | 5.00 % |
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Qatar Aquaculture and Fisheries Market Analysis
The Qatar Fisheries and Aquaculture Market size is estimated at USD 171.58 million in 2024, and is expected to reach USD 218.99 million by 2029, growing at a CAGR of 5% during the forecast period (2024-2029).
- Over the long term, the fisheries and aquaculture market in Qatar is expected to grow steadily as people shift toward foods that are rich in protein sources. Additionally, after the effect of the pandemic, people became more health conscious. As fish and other aquaculture species are rich in protein, omega-rich fatty acids, iodine, and many health benefits, the demand is increasing on a large scale in the country. This has led to increased fish consumption, which is highly nutritious and has impressive health benefits.
- Along with this, the Qatari government is pushing some initiatives to diversify its economy. It is actively promoting investors and foreign companies to establish an enhanced sector for fisheries and aquaculture in the country. This has opened new opportunities for investors to finance RAS-based systems on farms, cage fish farming, etc.
- Furthermore, the increased research and development activities are also paving the way for the increase in the aquaculture industry in the country. For instance, in 2020, the Prime Minister and Interior Minister opened the Aquatic Research Centre in Ras Matbakh, Qatar. This center runs with a production capacity of two million fish larvae in one year. It will increase its targets to over 20 million fish larvae within three years and thereby helps develop Qatar's fisheries wealth.
