Market Size of united arab emirates seafood Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2017 - 2029 |
|
Market Size (2024) | USD 1.36 Billion |
|
|
Market Size (2029) | USD 1.44 Billion |
|
Largest Share by Type | Fish |
|
|
CAGR (2024 - 2029) | 1.16 % |
|
|
Fastest Growing by Type | Shrimp |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
United Arab Emirates Seafood Market Analysis
The United Arab Emirates Seafood Market size is estimated at 1.36 billion USD in 2024, and is expected to reach 1.44 billion USD by 2029, growing at a CAGR of 1.16% during the forecast period (2024-2029).
1.36 Billion
Market Size in 2024 (USD)
1.44 Billion
Market Size in 2029 (USD)
2.26 %
CAGR (2017-2023)
1.16 %
CAGR (2024-2029)
Largest Segment by Type
82.81 %
value share, Fish, 2023
The country's demand for fish is fueled by a range of factors, including fish's lower price, greater nutritional value, and ease of availability due to increased production.
Largest Segment by Form
53.55 %
value share, Fresh / Chilled, 2023
Local consumers choose wild-caught as they believe it to be more natural, fresh, delicious, and healthy. The demand rose considerably after the relaxation of the lockdown.
Fastest-growing Segment by Type
1.98 %
Projected CAGR, Shrimp, 2024-2029
The growth of the aquaculture sector supports the progress of the shrimp market in the country, with farmed shrimp set to dominate the market in the coming years.
Fastest-growing Segment by Form
2.39 %
Projected CAGR, Processed, 2024-2029
The increasing popularity of ready-to-eat and ready-to-cook meat to match the fast-paced lifestyle is projected to drive the demand for processed seafood products in the country.
Leading Market Player
3.04 %
market share, The Deep Seafood Company, 2022
The company provides a wide range of premium quality fish products to consumers through its extensive distribution network to ensure the freshness and quality of its products.
The increase in focus on aquaculture favors the market's growth
- The United Arab Emirates imports around 70% of the seafood. Hence, the UAE government is focusing on investing in aquaculture projects due to the increasing demand for seafood, as it is a viable source of improving the region’s food security, which is a major concern in the country because the nation relies majorly on imports to meet the seafood demand. In the United Arab Emirates, more than 67% of the seafood is consumed through the on-trade channel, which includes restaurants and food services. Around 40% of seafood consumers dine out at least 2-3 times per week due to various restaurant options driving the growth of the seafood market in the country.
- Fish is the primary type of seafood consumed in the United Arab Emirates. Fish sales were increased by 2.07% by value in 2022 compared to the previous year. In UAE, local seafood includes Hammour (local grouper), Sultan Ibrahim (threadfin bream), Sheri (emperor fish), and Safi (rabbitfish). Additionally, imported fish species, such as salmon, tuna, and sea bass, are popular. Overall, small pelagic fish, such as sardines and mackerel, and large pelagic fish, such as tuna and barracuda, are the most consumed species in the United Arab Emirates.
- Shrimps are anticipated to register a CAGR of 1.98% by value during the forecast period. The UAE's coastal location and access to fresh seafood contribute to the popularity of shrimp. The country has a coastal line of around 1,318 kilometers. Coastal cities like Dubai, Abu Dhabi, and Sharjah have bustling seafood markets where consumers can find a wide variety of shrimp options. There is a growing demand for sustainably farmed shrimp among consumers in the UAE, which is anticipated to grow during the forecast period.
Understand The Key Trends Shaping This Market
