UAE Aquaculture Market is anticipated to grow with surging demand for fish products, in the forecast period, 2023-2027F. According to TechSci report on, “UAE Aquaculture Market - By Region, Competition Forecast & Opportunities, 2027” the UAE aquaculture market might register an impressive CAGR during the forecast period, 2023-2027, to establish growth due to factors like growing demand for seafood.
The Important Aspects of UAE Aquaculture Market
Changing food habits of the population of the country and increasing migrations of the population from other countries drive the growth of the UAE aquaculture market in the upcoming five years. Production capacities of the fisheries in the country are still low but the government is actively invested in the industry and through strategies like the UAE Aquaculture Pulse, 2020 the government is planning to analyze the consumption and the market growth that would support the growth of the UAE aquaculture market in the next five years. Moreover, consumers are highly inclined toward the e-commerce sector. The expansion of e-commerce and the growing use of internet-based ordering and home delivery services are anticipated to further aid the growth of the UAE aquaculture market in the future five years. Growing demand for food security and looking the rising population of the country market expansion is inevitable. Growing immigration in the country post-COVID-19 is further substantiating the growth of the UAE aquaculture market in the forecast years through 2027.
Concerns for the environmental degradation and degrading quality of marine life are major concerns and the authorities are acting upon it to enhance the quality of marine life. Oil spills and waste dumps are the major cause of the degradation of the oceans and seas. Efforts and active steps toward a cleaner environment would aid the growth of the UAE aquaculture market in the forecast period. Increasing imports of seafood products and growing international treaties for the facilitation of the import of various products would also substantiate the market growth in the consecutive five years.
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The UAE aquaculture market is segmented by type, species, production type, distribution channel, competitional landscape, and regional distribution. Based on type, the market is differentiated between land-based aquaculture and sea-based aquaculture. Land-based aquaculture is anticipated to hold leading revenue shares of the market and may dominate the market segment in the upcoming five years on the account of growing advancement in aquaculture services. The surge in technological advancement and growing investment in the sector is also majorly responsible for the growth of the segment as well as the growth of the UAE aquaculture market in the next five years. Sea-based aquaculture systems are also growing in the country and with rising efforts of the government and the authorities along with their investment in the systems are also anticipated to aid the significant growth of the segment.
By species, the market is further segmented into pelagic fish, demersal fish, and freshwater fish. Pelagic fish might dominate the market segment with the largest demand in the country. The pelagic fishes are mostly grown in coastal waters, and they are fished by gill nets and lines. Fish is commercially important due to the growing demand for fish and the health benefits of the fish for consumption. It has a good aquaculture potential due to its fast growth rate and currently it is being grown in UAE on an experimental/ pilot scale by a few private enterprises.
Based on product type, the market is distinguished between small-scale production and medium/large-scale production. By distribution channel, the market is bifurcated into traditional retail, supermarkets and hypermarkets, specialized retailers, online stores, and others.
A partial list of major market players in the UAE aquaculture market includes :
- Sheikh Khalifa Marine Research Centre
- Al Jaraf Fisheries LLC
- Fish Farm LLC
- Alwathba Investment LLC (Emirates Fish Farms)
- Aquaculture and Marine Studies Center at Abu Al Abyad Island
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“Aquaculture industry is growing at a steady pace in the United Aram Emirates. The consumption of the fishes and other marine products has increased in recent years. The government of the country is also actively invested in the advancement of the sector as aquaculture is considered a core component of the food security demands in the country. Under the schemes of Vision 2021, and UAE Centennial 2021 plans the expansion of the industry is a major growth aspect in the future five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“UAE Aquaculture Market By Type (Land Based Aquaculture v/s Sea Based Aquaculture), By Species (Pelagic Fish, Demersal Fish, Freshwater Fish), By Production Type (Small Scale v/s Medium & Large Scale), By Distribution Channel (Traditional Retail, Supermarkets and Hypermarkets, Specialized Retailers, Online Stores, Others), By Region, Competition Forecast & Opportunities, 2027” has evaluated the future growth potential of UAE aquaculture market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the UAE aquaculture market.
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