Qatar Fisheries and Aquaculture Market Size (2024 - 2029)

The Qatar aquaculture market is poised for steady growth, driven by a shift towards protein-rich foods and increased health consciousness post-pandemic. The demand for fish and aquaculture products is rising due to their nutritional benefits, supported by government initiatives to diversify the economy and attract investment in the sector. These efforts include promoting advanced farming systems and enhancing research and development activities, such as the establishment of a significant aquatic research center. These developments are expected to expand the market's scope and contribute to its growth trajectory.

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Market Size of Qatar Fisheries and Aquaculture Industry

Qatar Fisheries and Aquaculture Market Summary
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

Qatar Fisheries and Aquaculture Market 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 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
Demersal Fish
Grouper
Trevally
Emperor
Pomfret
Freshwater Fish
Scallop
Shrimp
Lobsters
Caviar
Other Types
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Qatar Fisheries and Aquaculture Market Size Summary

The Qatar aquaculture market is poised for steady growth over the forecast period, driven by a shift in consumer preferences towards protein-rich foods and increased health consciousness post-pandemic. The demand for fish and other aquaculture species is rising due to their nutritional benefits, including high protein content and omega-rich fatty acids. The Qatari government's initiatives to diversify the economy and promote foreign investment in the fisheries and aquaculture sector are creating new opportunities for growth. Research and development activities, such as the establishment of the Aquatic Research Centre, are further supporting the expansion of the industry. The growing population, booming economy, and status as a tourist destination are increasing the demand for high-quality culinary products, necessitating sustainable management of marine resources.

The fisheries sector in Qatar is critical for achieving food self-sufficiency and reducing import dependency. Strategic investments in fish farming, such as the Samakna project, are enhancing fish production and supporting the country's food security goals. Government-led initiatives, including large-scale fish-growing operations, are contributing to increased fish production. The construction of facilities like the single-cell protein plant and land-based shrimp facility underscores the country's commitment to sustainable aquaculture practices. These efforts are expected to significantly boost the demand for seafood products, aligning with the changing consumer food choices towards a diet high in animal proteins and healthy fats.

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Qatar Fisheries and Aquaculture Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Value Chain/Supply Chain Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Pelagic Fish

        1. 2.1.1.1 Sardines

        2. 2.1.1.2 Mackerel

        3. 2.1.1.3 Tuna

        4. 2.1.1.4 Barracuda

      2. 2.1.2 Demersal Fish

        1. 2.1.2.1 Grouper

        2. 2.1.2.2 Trevally

        3. 2.1.2.3 Emperor

        4. 2.1.2.4 Pomfret

      3. 2.1.3 Freshwater Fish

      4. 2.1.4 Scallop

      5. 2.1.5 Shrimp

      6. 2.1.6 Lobsters

      7. 2.1.7 Caviar

      8. 2.1.8 Other Types

Qatar Fisheries and Aquaculture Market Size FAQs

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.

In 2024, the Qatar Fisheries and Aquaculture Market size is expected to reach USD 171.58 million.

Qatar Aquaculture and Fisheries Market Report Snapshots

Qatar Aquaculture Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)