Analysis of the Fisheries and Aquaculture sector in Kuwait - Fishes and Invertebrates with Production, Consumption, Import and Export Data and Trends (2017 - 2022)
The development of commercial aquaculture in Kuwait seems to be getting special attention lately. The feasibility studies of various R&D projects concerning aquaculture operations showcase the great economic importance and possible investment opportunities in different segments of this sector. The per capita consumption of fish is 18 kg per annum. The market for fisheries and aquaculture in Kuwait was worth USD XX million as of 2015 and is expected to grow at a CAGR of XX% per annum over 2016-2022. This sector is regarded as economically important and provides a great scope for foreign investments as the government looks to diversify economically.
Drivers The growing population, rise in disposable income, affluence, moderate GDP, and an impetus by the government to increase self-sufficiency in terms of food are major factors driving this sector. Mounting western population and concepts of healthy living further encourage the market.
Restraints and Challenges The production has not been able to meet the demand resulting in most of the fish being imported to the country. Moreover, more people are moving away from fishing and shifting to other more profitable sectors. Despite efforts of the government people still find it very difficult to get license permissions in the region. Unavailability of resources is a major challenge. There have been no exports of aquatic products in the past couple of years from Kuwait.
Opportunities The government provides a supportive regulatory framework that encourages investments through land acquisitions with the provision of favorable loans. The prime focus of the government is developing the aquaculture market, so as to meet the local demand. Source-comtrade.un.org Key Deliverables in the Study o PESTLE analysis (overview): Macro market factors pertinent to this region. o Market definition: Main as well as associated/ancillary components constituting the market. o Key findings of the study: Top headlines about market trends & numbers. o Market dynamics: • Drivers: Key factors driving growth in the market. • Restraints: Most relevant threats and restraints hindering the growth of the market. • Opportunities: Sectors of high return or quick turnaround on investment. • Market concentration: Porter’s five forces analysis quantified by a comprehensive list of parameters. o Chain analysis. o Competition: • Market share analysis: Top players in the market (by value and volume) • Company profiles: Pertinent details about leading, high growth, and innovation-motivated stakeholders; with contact, operations, product/service offerings, financials, strategies, and insights.