Qatar Aquaculture and Fisheries Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Market Size (2024) | USD 171.58 Million |
| Market Size (2029) | USD 218.99 Million |
| CAGR (2024 - 2029) | 5.00 % |
Major Players*Disclaimer: Major Players sorted in no particular order |
Qatar Aquaculture and Fisheries Market Analysis
The Qatar Fisheries and Aquaculture Market size is estimated at USD 171.58 million in 2024, and is expected to reach USD 218.99 million by 2029, growing at a CAGR of 5% during the forecast period (2024-2029).
- Over the long term, the fisheries and aquaculture market in Qatar is expected to grow steadily as people shift toward foods that are rich in protein sources. Additionally, after the effect of the pandemic, people became more health conscious. As fish and other aquaculture species are rich in protein, omega-rich fatty acids, iodine, and many health benefits, the demand is increasing on a large scale in the country. This has led to increased fish consumption, which is highly nutritious and has impressive health benefits.
- Along with this, the Qatari government is pushing some initiatives to diversify its economy. It is actively promoting investors and foreign companies to establish an enhanced sector for fisheries and aquaculture in the country. This has opened new opportunities for investors to finance RAS-based systems on farms, cage fish farming, etc.
- Furthermore, the increased research and development activities are also paving the way for the increase in the aquaculture industry in the country. For instance, in 2020, the Prime Minister and Interior Minister opened the Aquatic Research Centre in Ras Matbakh, Qatar. This center runs with a production capacity of two million fish larvae in one year. It will increase its targets to over 20 million fish larvae within three years and thereby helps develop Qatar's fisheries wealth.
Qatar Aquaculture and Fisheries Market Trends
Increase in Seafood Demand due to Rising Population
Qatar's rising population, booming economy, and popularity as a tourist destination have raised the demand for high-quality culinary products. For instance, according to the World Bank, the population in the country was 2.78 million in 2018. This rose to 3.01 million by 2021, placing a critical need on the sustainable and efficient management of marine resources and fish stock. Additionally, as affluent individuals control the majority of the country's private wealth, it is expected to experience the most significant increase in demand.
Along with this, the country's consumer food choices have changed due to growing urbanization and an increase in the percentage of wealthy people. Unlike the less diverse diets of rural cultures, city inhabitants prefer a diet high in animal proteins and healthy fats. As a result, the food consumption pattern is gradually shifting away from carbohydrate-based staple foods to protein-rich meals, including fish, meat, and dairy. The population growth and consumption rates are likely to be the major factors driving the fisheries and aquaculture sector in the country.
Moreover, the growing concerns about obesity and diabetes in the country and the presence of various expatriates have also resulted in rising demand for healthy foods. As fish and other aquatic species provide health benefits, the opportunities for healthy and light value-added seafood products are anticipated to increase. Therefore, the demand for seafood products is expected to rise significantly due to the rising population and awareness regarding healthy foods, which is also anticipated to impact the market growth in the country positively.
Government initiatives are increasing the fish production
Qatar's fisheries sector is considered critical to promoting food self-sufficiency and increasing exports. As a result, Qatar has devised a strategy to stimulate investment in the country's fish farming. According to the aquaculture group's recommendations, coastal locations for the construction of farms were chosen. Additionally, the major companies are assisting Qatar's efforts to improve its food security by lowering its dependency on imports, achieving self-sufficiency in its fish consumption, and protecting the species. For instance, AQH a major business company involved in the aquaculture business in 2020 started Samakna a 50 km fish farming project in floating cages offshore in the northern part of the country which provides more than 3,000 metric tons of high-quality fish. This type of initiative is assisting the increasing fish production in the region.
Along with this, the farming operations launched by the ministry are pushing fish production on a large scale. For instance, in 2021, In a large-scale fish-growing operation, Qatar's environment ministry launched an effort with the goal of producing more than 600 tonnes of tilapia fish annually. As a result of these initiatives, developed by the government fish production is increasing in Qatar. For instance, according to World Bank data, the production of fisheries reached 15,109 metric tons in 2020 an increase from 14,200 metric ton in 2018.
Qatar Aquaculture and Fisheries Market News
- October 2022: Unibio and Gulf Biotech constructed the first single-cell protein (SCP) plant in Qatar, using Unibio's U-Loop technology that will convert methane into a valuable feed ingredient for fish.
- May 2022: Strategic Food Security Projects 2019-23 launched under the National Food Security Program that is targeted to increase self-sufficiency of the country in fish production registered the increase in humor fish production to 30%.
- January 2022: Agrico, a Qatari agricultural firm, constructed a new land-based shrimp facility with a 10,000 sq.m area in Al Khor, Qatar, to supply fresh and sustainable shrimp.
Qatar Aquaculture and Fisheries Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Value Chain/Supply Chain Analysis
5. MARKET SEGMENTATION
-
5.1 Type
- 5.1.1 Pelagic Fish
- 5.1.1.1 Sardines
- 5.1.1.2 Mackerel
- 5.1.1.3 Tuna
- 5.1.1.4 Barracuda
- 5.1.2 Demersal Fish
- 5.1.2.1 Grouper
- 5.1.2.2 Trevally
- 5.1.2.3 Emperor
- 5.1.2.4 Pomfret
- 5.1.3 Freshwater Fish
- 5.1.4 Scallop
- 5.1.5 Shrimp
- 5.1.6 Lobsters
- 5.1.7 Caviar
- 5.1.8 Other Types
6. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablityQatar Aquaculture and Fisheries Industry Segmentation
Aquaculture is the production of aquatic organisms under controlled conditions throughout part or all of their lifecycle. Qatar's aquaculture industry has been expanding over the past few years. The Qatar Fisheries and Aquaculture Market is segmented by Type (Pelagic Fish [Sardine, Mackerel, Tuna, and Barracuda], Demersal Fish [Grouper, Trevally, Emperor, and Pomfret], Freshwater Fish, Scallop, Shrimp, Lobsters, Caviar and Other Types). The report offers market sizes and forecasts in volume (metric ton) and value (USD thousand) for all the above segments.
| Type | Pelagic Fish | Sardines |
| Mackerel | ||
| Tuna | ||
| Barracuda | ||
| Type | Demersal Fish | Grouper |
| Trevally | ||
| Emperor | ||
| Pomfret | ||
| Type | Freshwater Fish | |
| Scallop | ||
| Shrimp | ||
| Lobsters | ||
| Caviar | ||
| Other Types |
Qatar Aquaculture and Fisheries Market Research FAQs
How big is the Qatar Fisheries and Aquaculture Market?
The Qatar Fisheries and Aquaculture Market size is expected to reach USD 171.58 million in 2024 and grow at a CAGR of 5% to reach USD 218.99 million by 2029.
What is the current Qatar Fisheries and Aquaculture Market size?
In 2024, the Qatar Fisheries and Aquaculture Market size is expected to reach USD 171.58 million.
What years does this Qatar Fisheries and Aquaculture Market cover, and what was the market size in 2023?
In 2023, the Qatar Fisheries and Aquaculture Market size was estimated at USD 163.41 million. The report covers the Qatar Fisheries and Aquaculture Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Qatar Fisheries and Aquaculture Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Qatar Aquaculture and Fisheries Industry Report
Statistics for the 2024 Qatar Aquaculture and Fisheries market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Qatar Aquaculture and Fisheries analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
