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

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  • 126 Pages
  • August 2022
  • Region: United Arab Emirates
  • Mordor Intelligence
  • ID: 5119160
The UAE Fisheries and Aquaculture Market is projected to register a CAGR of 4.7% during the forecast period (2022-2027).

The COVID-19 pandemic had a minor impact on UAE fisheries and the 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 and Greece to import seafood. It has also taken the 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. Rapid growth and development and the diverse population of the UAE, coupled with the rising consumption of seafood, are likely to be the major factor that is driving the fisheries and aquaculture sector. The tourist visits and lower-income disparity among the population increased fuel consumption, thus driving the market.

With the pivotal role fisheries and aquaculture play 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 agricultural 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 are likely to drive the fisheries and aquaculture market in the United Arab Emirates.

Key Market Trends

Growing Demand for Fish and Seafood Products

The demand for fish and seafood is increasing among consumers, as it is high in nutrition and low-fat protein. The rise in meat consumption, growing health concerns, the changing diet patterns, urbanization, population, and economic growth are the factors influencing the higher preference for seafood products. The United Arab Emirates is the highest consumer of fish among all GCC countries, with the majority of the population preferring seafood. An increase in population, largely made up of protein, preferring a young population is further driving the demand. The United Arab Emirates has acquired food security through the availability of fresh fish.

According to Agriculture and Agri-Food, UAE's consumer expenditure on fish and seafood in 2016 was USD 165, and it had increased steadily to reach USD 184.8 in 2019. This trend is projected to grow during the forecast period. ​The growing demand for high-protein diets is driving the demand for fish and seafood products to meet diet requirements. This trend is anticipated to rise exponentially, driving the fisheries and aquaculture market.

Increasing Import of Fish is Driving the Market

The growing population coupled with the 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 was nearly 226,000.0 tons, while the UAE’s fish stocks were 70,000.0 tons, forcing the country to be import-dependent for more than 70.0% of its seafood.

According to the ITC Trade, in 2020, the UAE imported frozen fish worth USD 89,549.00 thousand compared to USD 55,512.0 thousand in 2016. In 2020, Greece, Ghana, Myanmar, and Chile were the major exporters to the United Arab Emirates with a share of 24.5%, 16.1%,12.7%, and 6.1%, respectively. Greece amounted to an export value of USD 21,972 thousand. The import of fish is expected to grow further during the forecast period due to the increasing demand from the consumers.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain/Supply Chain Analysis
5.1 Type (Production Analysis, Consumption Analysis by Value and Volume, Import Analysis by Value and Volume, Export Analysis by Value and Volume and Price Trend Analysis)
5.1.1 Pelagic Fish Sardines Mackerel Tuna Barracuda
5.1.2 Demersal Fish Grouper Trevally Emperor Pomfret
5.1.3 Freshwater Fish Tilapia
5.1.4 Scallop
5.1.5 Shrimp
5.1.6 Lobsters
5.1.7 Caviar
5.1.8 Salmon
5.1.9 Other Types
6.1 Lulu Hypermarkets
6.2 Carrefour Hypermarkets
6.3 SPAR Hypermarkets
6.4 Al Madina Hypermarket
6.5 Big Bazaar Hypermarket