GCC Fisheries and Aquaculture Sector Analysis - Growth, Trends, and Forecast (2020 - 2025)

The report provides an all-encompassing analysis of the market trends, growth, driving factors, value chain, and forecast to 2025. The Fisheries and Aquaculture Sector in the GCC region is segmented by Type (Pelagic Fish, Demersal Fish, Freshwater Fish, and Scallop) and Geography (Saudi Arabia, United Arab Emirates, Oman, Qatar, Bahrain, and Kuwait).

Market Snapshot

Study Period:

2016-2025

Base Year:

2019

CAGR:

7.2 %

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Market Overview

The production of fish in the GCC region is projected to grow at a rate of 7.2%, during the forecast period (2020-2025).

  • The drivers identified in the market are a rapid rise in the population, an increase in affluent households, a focus on diversification, and changing diet preferences.
  • The restraints identified in the market are unsustainable capture fishing patterns, low level of informal fisheries consolidation, and low level of knowledge and technology dissemination.

Scope of the Report

The report contains an analysis of the various aspects of the fisheries and aquaculture market in the GCC region. The study includes market dynamics and the production, import, and export data of fishes and invertebrates. The report presents an in-depth analysis of the market size and trends in the relevant GCC regions (Saudi Arabia, United Arab Emirates (UAE), Oman, Qatar, Bahrain, and Kuwait). The market sizing has been done at the consumer level. The report identifies key factors that are instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge. Investment analysis provides details on recent projects and an investor outlook.

Type
Pelagic Fish
Sardines
Mackerel
Tuna
Barracuda
Demersal Fish
Grouper
Trevally
Emperor
Pomfret
Freshwater Fish
Tilapia
Scallop
Shrimp
Lobsters
Caviar
Other Types
Geography
Saudi Arabia
United Arab Emirates
Oman
Qatar
Bahrain
Kuwait

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Key Market Trends

Government Initiatives for Sustainable Fish Farming with an Objective towards Self-Sufficiency

The governments in the Gulf region have developed policies and favorable investment conditions in order to raise the level of fish farming in the region. The primary attributes of the development of the aquaculture sector in the region have been high import dependency, preservation of scarce freshwater, and potential for export surplus. Although the aquaculture industry is still in the burgeoning phase, Oman’s Ministry of Agriculture and Fisheries has been making large-scale investments valued at USD 1.0 billion across 15,000 hectares of land for the development of the aquaculture sector. The country is expected to produce 200,000.0 metric ton of fish between 2030 and 2040. Moreover, the Saudi Ministry plays a key role in expanding the aquaculture sector only to meet domestic demand, but also to produce surplus fish for exports. In 2017, the total fish production in Saudi Arabia reached 60,000.0 metric ton with an aim to surpass 100,000.0 metric ton in 2020 and 600,000,0 metric ton in 2030. Therefore, the supportive government policies towards the objective of expanding the aquaculture industry, are further expected to drive the market, during the forecast period. 

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Increasing Production of Freshwater Fish

The steady expansion of the aquaculture industry in the GCC region can be 7attributed to the rise in the production level of freshwater fish in recent years. In Saudi Arabia, which has a well-established aquaculture sector, the total production of tilapia and other cichlids rose to 7,780.0 metric ton in 2017 from 5,850.0 metric ton in 2013. Moreover, there are five licensed aquaculture operations in the emirate of Abu Dhabi. The total production increased from 405 metric ton in 2016 to 648.0 metric ton in 2017 while the entire aquaculture sector produced 810 metric ton of seafood in 2018. However, since fish from the aquaculture accounts for only about 3,255.0 metric ton, the UAE Ministry of Climate Change and Environment's new aquaculture strategy 2019 aims to accelerate the growth of the aquaculture industry through six initiatives which include streamlining the process of acquiring permits, identifying fish farming systems and appropriate sites, and promoting economic investments, among others, which is further expected to enhance the production of freshwater fish in the region, thus, driving the aquaculture sector in the coming years. 

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Value Chain / Supply Chain Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Pelagic Fish

        1. 5.1.1.1 Sardines

        2. 5.1.1.2 Mackerel

        3. 5.1.1.3 Tuna

        4. 5.1.1.4 Barracuda

      2. 5.1.2 Demersal Fish

        1. 5.1.2.1 Grouper

        2. 5.1.2.2 Trevally

        3. 5.1.2.3 Emperor

        4. 5.1.2.4 Pomfret

      3. 5.1.3 Freshwater Fish

        1. 5.1.3.1 Tilapia

      4. 5.1.4 Scallop

      5. 5.1.5 Shrimp

      6. 5.1.6 Lobsters

      7. 5.1.7 Caviar

      8. 5.1.8 Other Types

    2. 5.2 Geography

      1. 5.2.1 Saudi Arabia

      2. 5.2.2 United Arab Emirates

      3. 5.2.3 Oman

      4. 5.2.4 Qatar

      5. 5.2.5 Bahrain

      6. 5.2.6 Kuwait

  6. 6. MARKET OPPORTUNITIES AND FUTURE TRENDS

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