The growing demand for seafood, along with an increase in disposable income, is driving the UAE Aquaculture Market during the forecast period of 2024-2028.
According to TechSci Research report, “UAE Aquaculture Market – By Region, Competition, Forecast and Opportunities, 2018-2028F”, the UAE Aquaculture Market stood at 432 tonnes in 2022 and is anticipated to grow with a CAGR of 4.27% in the forecast period, 2023-2028. The initiatives taken by government based on aquaculture has led to favorable market conditions for the UAE Aquaculture Market. Several factors contribute to the growth of various aquaculture market products.
The Government Accelerators program, a dynamic initiative, has launched several comprehensive and targeted initiatives aimed at fast-tracking the development of the aquaculture sector. Although specific details of these initiatives are not mentioned in the search results, it is highly plausible that they encompass a wide range of support mechanisms and resources to foster the growth and prosperity of aquaculture businesses.
These measures may include financial assistance, capacity-building programs, technology adoption support, market access facilitation, and regulatory reforms to create an enabling environment for the sector. The Government Accelerators program is committed to propelling the aquaculture industry forward and unlocking its full potential for sustainable economic development.
Research and development (R&D) activities have also led to the establishment of inland aquaculture projects within or in close proximity to existing agricultural projects. These innovative initiatives aim to capitalize on the synergies between aquaculture and agriculture, fostering a harmonious relationship. For instance, these projects explore the utilization of agricultural waste as fish feed, minimizing waste and enhancing the circular economy.
Additionally, nutrient-rich fish wastewater can be utilized for crop irrigation, promoting efficient resource utilization and sustainable practices. These integrated systems not only enhance resource efficiency but also contribute to the long-term sustainability of food production, making them an attractive option for future development.
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The UAE Aquaculture Market is segmented in species, distribution channel, regional distribution, and company. Based on its species, the freshwater fish segment held the largest share in the market. The UAE government has demonstrated unwavering support for the aquaculture sector, acknowledging its immense potential in driving economic growth and ensuring food security.
In line with this commitment, the government has launched various initiatives aimed at bolstering the development of aquaculture technologies, including generous funding for research and development. These proactive measures have played a pivotal role in fostering the expansion of freshwater fish farming within the country, contributing to the overall sustainability and self-sufficiency of the UAE’s food production.
Based on region, Dubai segment is expected to grow during the forecast period. The Dubai government is actively fostering the growth and development of the aquaculture sector by providing substantial support. This support encompasses not only subsidies for aquaculture inputs like feed and seed, but also significant investments in aquaculture research and development. By doing so, the government aims to create a conducive environment for aquaculture businesses to thrive and contribute to the overall economic growth of Dubai.
In addition to the government’s support, Dubai boasts a highly advanced and well-connected infrastructure. With its extensive network of well-maintained roads, state-of-the-art ports, and modern airports, Dubai ensures seamless transportation of aquaculture products to both domestic and international markets. This efficient and reliable infrastructure plays a crucial role in facilitating the timely and efficient delivery of aquaculture products, enabling Dubai to establish itself as a major player in the global aquaculture industry.
Major companies operating in UAE Aquaculture Market are:
- Sheikh Khalifa Marine Research Center
- Al Jaraf Fisheries LLC
- Fish Farm LLC
- Alwathba Investment LLC (Emirates Fish Farm)
- Aquaculture and Marine Studies Center at Abu Al Abyad island
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“Growing application of aquaculture in various end user industries are key drivers of the aquaculture market. Growth in competitive landscape and presence of well-established companies in the market who are dedicated to enhance their productivity of aquaculture with every passing year are anticipated to register an impressive growth to UAE Aquaculture Market in the forecast period.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.
“Aquaculture Market By Species (Pelagic Fish, Demersal Fish, Freshwater Fish), By Distribution Channel (Traditional Retail, Supermarket and Hypermarkets, Specialized Retailers, Online Stores, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F”, 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 UAE Aquaculture Market.
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