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Analysis Of The Fisheries And Aquaculture Sector In The GCC Region Market Size (2024 - 2029)

The GCC aquaculture market is poised for growth, driven by factors such as population increase, rising affluent households, and shifting dietary preferences. Despite challenges like unsustainable fishing practices and limited technology dissemination, the market is expected to expand, particularly in Saudi Arabia, where aquaculture is becoming the primary seafood supply source due to declining capture fisheries and stringent import regulations. The implementation of strict certifications for sustainable practices further supports the market's expansion, addressing environmental and safety concerns.

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Market Size of Analysis Of The Fisheries And Aquaculture Sector In The GCC Region

Analysis Of The Fisheries And Aquaculture Sector In The GCC Region Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 1.45 Billion
Market Size (2029) USD 2.05 Billion
CAGR (2024 - 2029) 7.20 %

GCC Fisheries and Aquaculture Market Analysis

The Analysis Of The Fisheries And Aquaculture Sector In The GCC Region Market size is estimated at USD 1.45 billion in 2024, and is expected to reach USD 2.05 billion by 2029, at a CAGR of 7.20% during the forecast period (2024-2029).

  • 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. As seafood continues to be a preferred healthy choice at events and restaurants, the fisheries market in Saudi Arabia is poised for growth in the coming years. According to the Ministry of Environment, Water, and Agriculture, Saudi Arabia's seafood and fisheries consumption is projected to rise at an annual rate of 7.4% through 2030. 
  • The cuisine of GCC nations boasts a rich tradition of seafood dishes, deeply rooted in the region's coastal heritage. Traditional recipes and delicacies prominently feature fish, shrimp, and other seafood. The seafood market is shaped by religious practices, notably the Islamic dietary laws (Halal). GCC countries procure seafood from a diverse array of suppliers, spanning neighboring nations to distant sources like India, Oman, China, and various European countries. Common imports include shrimp, fish fillets, crab, lobster, and other premium species. Data from ITC Tradmap reveals that in 2022, the GCC region's imports included fresh fish exceeding USD 532 million and frozen fish surpassing USD 265 million. 
  • In response to shifting local fish consumption patterns and rising demand, the GCC aquaculture sector has witnessed a surge in local infrastructure projects, bolstered by public support. Abu Dhabi's Environment Agency (EAD) has unveiled its inaugural sea-cage aquaculture initiative, harnessing artificial intelligence (AI) tools. Targeting an annual yield of 100 metric tons, the project seeks to alleviate the strain on wild fisheries. Situated southeast of Delma Island in the Al Dhafra Region, the initiative will spearhead scientific studies on local fish species and floating aquaculture cage systems. Additionally, it aims to establish environmental protocols for sustainable sea-based aquaculture in Abu Dhabi. Beyond easing the burden on wild fisheries and tackling climate change challenges, the project bolsters food security amidst rising seafood demand and paves the way for future sector investments.

GCC Fisheries and Aquaculture Industry Segmentation

Fisheries and aquaculture can be defined as raising or capturing aquatic organisms, including wild marine and freshwater fish, for food or industrial purposes. The fisheries and aquaculture sector in the GCC region is segmented by type (Pelagic fish, Demersal fish, Freshwater fish, Scallop, Shrimp. Lobster, Caviar, and Salmon) and geography (Saudi Arabia, United Arab Emirates, Oman, Qatar, Bahrain, and Kuwait). The market includes production analysis (volume), consumption analysis (value and volume), export analysis (value and volume), import analysis (value and volume), and price trend analysis across the GCC. The report offers market estimation and forecasts in value (USD) and volume (Metric tons) for the above-mentioned segments. 

Type
Pelagic Fish
Sardine
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Mackerel
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Tuna
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Barracuda
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Demersal Fish
Grouper
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Trevally
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Emperor
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Pomfret
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Freshwater Fish
Tilapia
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Scallop
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Lobster
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Shrimp
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Caviar
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Salmon
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Geography
Saudi Arabia
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
United Arab Emirates
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Oman
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Qatar
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Bahrain
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
Kuwait
Production Analysis by Volume
Consumption Analysis by Value and Volume
Import Analysis by Value and Volume
Export Analysis by Value and Volume
Wholesale Price Trend Analysis
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Analysis Of The Fisheries And Aquaculture Sector In The GCC Region Size Summary

The GCC aquaculture market is poised for significant growth, driven by factors such as population increase, rising affluent households, and shifting dietary preferences. The region's focus on diversifying its economy and enhancing food security has led to a burgeoning aquaculture sector, particularly in Saudi Arabia and the UAE. The decline in capture fisheries and stringent import regulations have positioned aquaculture as a crucial source of seafood supply. The Saudi Ministry of Environment, Water, and Agriculture (MEWA) is spearheading initiatives to ensure sustainable practices, including the implementation of the Global Aquaculture Alliance/Best Aquaculture Practices certification. This regulatory framework aims to bolster the safety and sustainability of seafood products, aligning with the Kingdom's broader economic diversification goals.

Government policies across the Gulf region are fostering a conducive environment for aquaculture development, with substantial investments and infrastructure projects underway. Oman, for instance, is making significant strides with large-scale investments to enhance its aquaculture capabilities. The UAE is also prioritizing aquaculture as a means to bolster food security, with a growing demand for seafood driven by urbanization and economic growth. The region's aquaculture industry is witnessing increased local demand and public support for new developments, such as Saudi Arabia's ambitious Neom project, which aims to leverage advanced fish farming technologies. These efforts are expected to position the GCC as a leader in sustainable marine aquaculture, meeting both domestic and export demands.

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Analysis Of The Fisheries And Aquaculture Sector In The GCC Region Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Production Initiatives

      2. 1.2.2 Rising Government Support

      3. 1.2.3 Increased Focused on Food Security

    3. 1.3 Market Restraints

      1. 1.3.1 Import Dependency for Certain Fishes

      2. 1.3.2 High Prices for Selective Species

    4. 1.4 Value Chain Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Pelagic Fish

        1. 2.1.1.1 Sardine

          1. 2.1.1.1.1 Production Analysis by Volume

          2. 2.1.1.1.2 Consumption Analysis by Value and Volume

          3. 2.1.1.1.3 Import Analysis by Value and Volume

          4. 2.1.1.1.4 Export Analysis by Value and Volume

          5. 2.1.1.1.5 Wholesale Price Trend Analysis

        2. 2.1.1.2 Mackerel

          1. 2.1.1.2.1 Production Analysis by Volume

          2. 2.1.1.2.2 Consumption Analysis by Value and Volume

          3. 2.1.1.2.3 Import Analysis by Value and Volume

          4. 2.1.1.2.4 Export Analysis by Value and Volume

          5. 2.1.1.2.5 Wholesale Price Trend Analysis

        3. 2.1.1.3 Tuna

          1. 2.1.1.3.1 Production Analysis by Volume

          2. 2.1.1.3.2 Consumption Analysis by Value and Volume

          3. 2.1.1.3.3 Import Analysis by Value and Volume

          4. 2.1.1.3.4 Export Analysis by Value and Volume

          5. 2.1.1.3.5 Wholesale Price Trend Analysis

        4. 2.1.1.4 Barracuda

          1. 2.1.1.4.1 Production Analysis by Volume

          2. 2.1.1.4.2 Consumption Analysis by Value and Volume

          3. 2.1.1.4.3 Import Analysis by Value and Volume

          4. 2.1.1.4.4 Export Analysis by Value and Volume

          5. 2.1.1.4.5 Wholesale Price Trend Analysis

      2. 2.1.2 Demersal Fish

        1. 2.1.2.1 Grouper

          1. 2.1.2.1.1 Production Analysis by Volume

          2. 2.1.2.1.2 Consumption Analysis by Value and Volume

          3. 2.1.2.1.3 Import Analysis by Value and Volume

          4. 2.1.2.1.4 Export Analysis by Value and Volume

          5. 2.1.2.1.5 Wholesale Price Trend Analysis

        2. 2.1.2.2 Trevally

          1. 2.1.2.2.1 Production Analysis by Volume

          2. 2.1.2.2.2 Consumption Analysis by Value and Volume

          3. 2.1.2.2.3 Import Analysis by Value and Volume

          4. 2.1.2.2.4 Export Analysis by Value and Volume

          5. 2.1.2.2.5 Wholesale Price Trend Analysis

        3. 2.1.2.3 Emperor

          1. 2.1.2.3.1 Production Analysis by Volume

          2. 2.1.2.3.2 Consumption Analysis by Value and Volume

          3. 2.1.2.3.3 Import Analysis by Value and Volume

          4. 2.1.2.3.4 Export Analysis by Value and Volume

          5. 2.1.2.3.5 Wholesale Price Trend Analysis

        4. 2.1.2.4 Pomfret

          1. 2.1.2.4.1 Production Analysis by Volume

          2. 2.1.2.4.2 Consumption Analysis by Value and Volume

          3. 2.1.2.4.3 Import Analysis by Value and Volume

          4. 2.1.2.4.4 Export Analysis by Value and Volume

          5. 2.1.2.4.5 Wholesale Price Trend Analysis

      3. 2.1.3 Freshwater Fish

        1. 2.1.3.1 Tilapia

        2. 2.1.3.2 Production Analysis by Volume

        3. 2.1.3.3 Consumption Analysis by Value and Volume

        4. 2.1.3.4 Import Analysis by Value and Volume

        5. 2.1.3.5 Export Analysis by Value and Volume

        6. 2.1.3.6 Wholesale Price Trend Analysis

      4. 2.1.4 Scallop

        1. 2.1.4.1 Production Analysis by Volume

        2. 2.1.4.2 Consumption Analysis by Value and Volume

        3. 2.1.4.3 Import Analysis by Value and Volume

        4. 2.1.4.4 Export Analysis by Value and Volume

        5. 2.1.4.5 Wholesale Price Trend Analysis

      5. 2.1.5 Lobster

        1. 2.1.5.1 Production Analysis by Volume

        2. 2.1.5.2 Consumption Analysis by Value and Volume

        3. 2.1.5.3 Import Analysis by Value and Volume

        4. 2.1.5.4 Export Analysis by Value and Volume

        5. 2.1.5.5 Wholesale Price Trend Analysis

      6. 2.1.6 Shrimp

        1. 2.1.6.1 Production Analysis by Volume

        2. 2.1.6.2 Consumption Analysis by Value and Volume

        3. 2.1.6.3 Import Analysis by Value and Volume

        4. 2.1.6.4 Export Analysis by Value and Volume

        5. 2.1.6.5 Wholesale Price Trend Analysis

      7. 2.1.7 Caviar

        1. 2.1.7.1 Production Analysis by Volume

        2. 2.1.7.2 Consumption Analysis by Value and Volume

        3. 2.1.7.3 Import Analysis by Value and Volume

        4. 2.1.7.4 Export Analysis by Value and Volume

        5. 2.1.7.5 Wholesale Price Trend Analysis

      8. 2.1.8 Salmon

        1. 2.1.8.1 Production Analysis by Volume

        2. 2.1.8.2 Consumption Analysis by Value and Volume

        3. 2.1.8.3 Import Analysis by Value and Volume

        4. 2.1.8.4 Export Analysis by Value and Volume

        5. 2.1.8.5 Wholesale Price Trend Analysis

    2. 2.2 Geography

      1. 2.2.1 Saudi Arabia

        1. 2.2.1.1 Production Analysis by Volume

        2. 2.2.1.2 Consumption Analysis by Value and Volume

        3. 2.2.1.3 Import Analysis by Value and Volume

        4. 2.2.1.4 Export Analysis by Value and Volume

        5. 2.2.1.5 Wholesale Price Trend Analysis

      2. 2.2.2 United Arab Emirates

        1. 2.2.2.1 Production Analysis by Volume

        2. 2.2.2.2 Consumption Analysis by Value and Volume

        3. 2.2.2.3 Import Analysis by Value and Volume

        4. 2.2.2.4 Export Analysis by Value and Volume

        5. 2.2.2.5 Wholesale Price Trend Analysis

      3. 2.2.3 Oman

        1. 2.2.3.1 Production Analysis by Volume

        2. 2.2.3.2 Consumption Analysis by Value and Volume

        3. 2.2.3.3 Import Analysis by Value and Volume

        4. 2.2.3.4 Export Analysis by Value and Volume

        5. 2.2.3.5 Wholesale Price Trend Analysis

      4. 2.2.4 Qatar

        1. 2.2.4.1 Production Analysis by Volume

        2. 2.2.4.2 Consumption Analysis by Value and Volume

        3. 2.2.4.3 Import Analysis by Value and Volume

        4. 2.2.4.4 Export Analysis by Value and Volume

        5. 2.2.4.5 Wholesale Price Trend Analysis

      5. 2.2.5 Bahrain

        1. 2.2.5.1 Production Analysis by Volume

        2. 2.2.5.2 Consumption Analysis by Value and Volume

        3. 2.2.5.3 Import Analysis by Value and Volume

        4. 2.2.5.4 Export Analysis by Value and Volume

        5. 2.2.5.5 Wholesale Price Trend Analysis

      6. 2.2.6 Kuwait

        1. 2.2.6.1 Production Analysis by Volume

        2. 2.2.6.2 Consumption Analysis by Value and Volume

        3. 2.2.6.3 Import Analysis by Value and Volume

        4. 2.2.6.4 Export Analysis by Value and Volume

        5. 2.2.6.5 Wholesale Price Trend Analysis

Analysis Of The Fisheries And Aquaculture Sector In The GCC Region Market Size FAQs

The Analysis Of The Fisheries And Aquaculture Sector In The GCC Region Market size is expected to reach USD 1.45 billion in 2024 and grow at a CAGR of 7.20% to reach USD 2.05 billion by 2029.

In 2024, the Analysis Of The Fisheries And Aquaculture Sector In The GCC Region Market size is expected to reach USD 1.45 billion.

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