United Arab Emirates Fisheries and Aquaculture Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

United Arab Emirates Fisheries and Aquaculture Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The United Arab Emirates Fisheries and Aquaculture Market is projected to register a CAGR of 4.7% during the forecast period (2021-2026).

The global Covid-19 pandemic had a minor impact on United Arab fisheries and aquaculture market. The country has faced temporary export and import challenges ,due to lockdown restrictions. In order to overcome this, the government has dedicated specific trips through national carriers to fish producing nations such as Turkey, Greece to import sea food. It has also taken an initiative to develop internet sales of fish and home delivery to consumers.

The UAE government is focusing on increasing aquaculture projects as it is a viable source for improving the region’s food security which is the major concern in the country. With rapid growth and development and the diverse population of the UAE coupled with rising consumption of seafood is likely to be the major factor that is driving the fisheries and aquaculture sector. The tourist visits into the country and lower-income disparity among the population further fuel consumption thus driving the market.

With the pivotal role fisheries and aquaculture plays in achieving self-sufficiency and meeting human protein needs, the government is focusing on the development of the industry which has led to the establishment of the Marine research center. Freshwater aquaculture in the country is limited only to a few irrigation channels, ponds, and tanks located near to agriculture farms. Expansion is likely to happen in the near future as people are becoming aware of the dual benefits of rearing fish such as tilapia in such facilities which will not only produce fish but also fertilize the irrigation water. All these factors will drive the fisheries and aquaculture market in United Arab Emirates

Key Market TrendsGrowing Fish and Seafood Consumption is Driving the Production

United Arab Emirates is the highest consumer of fish among all GCC countries. An increase in population, largely made up of protein preferring young population and ex-pats, further drives demand. United Arab Emirates has acquired food security through the availability of fresh fish. According to The Environment Agency Abu Dhabi (EAD), in 2018, production in Abu Dhabi amounted to about 810 tons of aquatic organisms with a value of approximately USD 5.06 million which represented a 20.0% increase in production, from 650 metric ton in 2017. Also, according to the Food and Agriculture Organisation (FAO), in 2018 the tuna fish production was 19,700.0 metric ton which have remained stable for the past three years whereas pelagic fishes production was 10,480.0 metric ton in 2016 that increased to 10,550.0 metric ton in 2018. Thus to meet the consumer demand the aquaculture production in the country is anticipated to grow during the forecast period.

Increasing Import of Fish is Driving the Market

The growing population coupled with increasing consumption of fish is leading to dependence on the import of the fish to meet the domestic fish demand. According to the United Arab Emirates Ministry of Climate Change and Environment, in 2017, the average annual seafood consumption in the United Arab Emirates is nearly 226,000.0 tons, while the UAE’s fish stocks were 70,000.0 tons, forcing the country to import-dependent for more than 70.0% of its seafood.

According to the ITC Trade, in 2019, UAE imported frozen fish worth USD 94,299.0 thousand compared to USD 55,512.0 thousand in 2016. In 2019, Ghana, Myanmar, Taipei(China), and Chile are the major exporters to the United Arab Emirates with a share of 16.3%, 12.6%,9.7%, and 9.6% respectively. Ghana amounted to the export value of USD 15,345 thousand. The import of fish is expected to grow further during the forecast period due to the increasing demand from the consumers.

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Companies Mentioned

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