
Middle East and Africa Aquaculture Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Aquatic Plants, Fish, Crustaceans, Mollusca, and Others) and Culture Environment (Fresh Water, Brackish Water, and Marine Water)
Description
Middle East and Africa Aquaculture Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Aquatic Plants, Fish, Crustaceans, Mollusca, and Others) and Culture Environment (Fresh Water, Brackish Water, and Marine Water)
The aquaculture market in the MEA is expected to grow from US$ 16,125.65 million in 2021 to US$ 22,333.16 million by 2028; it is estimated to grow at a CAGR of 4.8% from 2021 to 2028.
Aquaculture is an efficient method of fish production, which is ecologically effective and involves lower costs, as these ventures can be operated at a large as well as a small scale. Currently, the aquaculture business is hampered by concerns regarding its contribution to water pollution, adverse impact on the environment, and threat to coastal ecosystems. However, advancements in technologies facilitating effective disease management and environmental management, and genetic improvements in cultured species are expected to bring significant changes in the field of aquaculture in the coming years.
The high growth in demand for fish oil, which is largely used as a dietary supplement in the healthcare, pharmaceuticals, and food industries, is highlighting the need for scaling up fish production. Fish oil is an efficient source of vitamin A and D and is considered the most significant source of vitamins for human consumption, after wild fish. Currently, fish oil accounts for a small percentage of total edible oil production. However, the percentage is expected to rise in the coming years owing to the health benefits of fish oil. Due to its omega-3 fatty acids content, fish oil is widely used in dietary supplements. It also reduces the level of triglyceride in the body, and minimizes the chances of heart disease and stroke. In the cosmetics industry, fish oil helps overcome skin disorders such as dermatitis, skin cancer, and allergy. In medical applications, it helps maintain heart health, prevent mental disorders, shred weight, enhance eye health, support healthy skin, and manage depression-related symptoms. Fish oil is considered as the fastest-growing protein source segment in the MEA food supply chain. It is also widely replacing genetically modified (GM) plant oil.
South Africa has recorded the highest number of COVID-19 cases in the MEA, followed by Saudi Arabia and the UAE. Due to the lockdown in countries in this region, the distribution network was significantly disrupted in 2020, affecting the sales of companies operating in the aquaculture market. However, the circumstances improved to some extent in 2021. The marketplace is experiencing positive recovery signs, and the sales of seafood products have surged. Moreover, the UAE is the center of tourist attractions and has a well-established hospitality industry. With the easing of the lockdown restrictions and travel bans, the demand for seafood from the hospitality sector is projected to grow significantly in the coming years, thereby driving the aquaculture market growth.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA aquaculture market at a good CAGR during the forecast period.
MEA Aquaculture Market Revenue and Forecast to 2028 (US$ Million)
MEA Aquaculture Market Segmentation
Market, by Product
Aquatic Plants Fish Crustaceans Mollusca Others Market, by Culture Environment
Fresh Water Brackish Water Marine Water Market, by Country
Saudi Arabia South Africa UAE Rest of MEA Companies Mentioned
Cermaq Group AS JBS S.A. Mowi ASA Stolt-Nielsen Limited Thai Union Group PCL
Reasons to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA aquaculture market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the MEA aquaculture market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the aquaculture market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
The aquaculture market in the MEA is expected to grow from US$ 16,125.65 million in 2021 to US$ 22,333.16 million by 2028; it is estimated to grow at a CAGR of 4.8% from 2021 to 2028.
Aquaculture is an efficient method of fish production, which is ecologically effective and involves lower costs, as these ventures can be operated at a large as well as a small scale. Currently, the aquaculture business is hampered by concerns regarding its contribution to water pollution, adverse impact on the environment, and threat to coastal ecosystems. However, advancements in technologies facilitating effective disease management and environmental management, and genetic improvements in cultured species are expected to bring significant changes in the field of aquaculture in the coming years.
The high growth in demand for fish oil, which is largely used as a dietary supplement in the healthcare, pharmaceuticals, and food industries, is highlighting the need for scaling up fish production. Fish oil is an efficient source of vitamin A and D and is considered the most significant source of vitamins for human consumption, after wild fish. Currently, fish oil accounts for a small percentage of total edible oil production. However, the percentage is expected to rise in the coming years owing to the health benefits of fish oil. Due to its omega-3 fatty acids content, fish oil is widely used in dietary supplements. It also reduces the level of triglyceride in the body, and minimizes the chances of heart disease and stroke. In the cosmetics industry, fish oil helps overcome skin disorders such as dermatitis, skin cancer, and allergy. In medical applications, it helps maintain heart health, prevent mental disorders, shred weight, enhance eye health, support healthy skin, and manage depression-related symptoms. Fish oil is considered as the fastest-growing protein source segment in the MEA food supply chain. It is also widely replacing genetically modified (GM) plant oil.
South Africa has recorded the highest number of COVID-19 cases in the MEA, followed by Saudi Arabia and the UAE. Due to the lockdown in countries in this region, the distribution network was significantly disrupted in 2020, affecting the sales of companies operating in the aquaculture market. However, the circumstances improved to some extent in 2021. The marketplace is experiencing positive recovery signs, and the sales of seafood products have surged. Moreover, the UAE is the center of tourist attractions and has a well-established hospitality industry. With the easing of the lockdown restrictions and travel bans, the demand for seafood from the hospitality sector is projected to grow significantly in the coming years, thereby driving the aquaculture market growth.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the MEA aquaculture market at a good CAGR during the forecast period.
MEA Aquaculture Market Revenue and Forecast to 2028 (US$ Million)
MEA Aquaculture Market Segmentation
Market, by Product
Aquatic Plants Fish Crustaceans Mollusca Others Market, by Culture Environment
Fresh Water Brackish Water Marine Water Market, by Country
Saudi Arabia South Africa UAE Rest of MEA Companies Mentioned
Cermaq Group AS JBS S.A. Mowi ASA Stolt-Nielsen Limited Thai Union Group PCL
Reasons to Buy
Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA aquaculture market
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the MEA aquaculture market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the aquaculture market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
96 Pages
- 1. Introduction
- 1.1 Scope of the Study
- 1.2 The Insight Partners Research Report Guidance
- 1.3 Market Segmentation
- 2. Key Takeaways
- 3. Research Methodology
- 3.1 Coverage
- 3.2 Secondary Research
- 3.3 Primary Research
- 4. MEA Aquaculture Market Landscape
- 4.1 Market Overview
- 4.2.1 Bargaining Power of Suppliers
- 4.2.2 Bargaining Power of Buyers
- 4.2.3 Threat of New Entrants
- 4.2.4 Competitive Rivalry
- 4.2.5 Threat of Substitutes
- 4.3 Expert Opinions
- 5. MEA Aquaculture Market - Key Industry Dynamics
- 5.1 Key Market Drivers
- 5.1.1 High Demand in Consumption of Seafood
- 5.1.2 Favourable Government Initiatives Boosting the Adoption of Aquaculture
- 5.2 Restraints
- 5.2.1 Hazardous Impact on the Environment
- 5.3 Opportunity
- 5.3.1 RAS Technology Getting Popular
- 5.4 Future trends
- 5.4.1 Growing Use of Fish Oil in Several Industries is Expected to Boost the Demand for Aquaculture
- 5.5 Impact Analysis of Drivers and Restraints
- 6. Aquaculture Market - MEA Analysis
- 6.1 MEA Aquaculture Market Overview
- 6.2 MEA Aquaculture Market Forecast and Analysis
- 7. MEA Aquaculture Market Analysis - by Product Type
- 7.1 Overview
- 7.2 MEA Aquaculture Market Breakdown, By Product Type, 2020 & 2028
- 7.3 Aquatic Plants
- 7.3.1 Overview
- 7.3.2 MEA Aquatic Plants Market Revenue Forecasts To 2028 (US$ Million)
- 7.4 Fish
- 7.4.1 Overview
- 7.4.2 MEA Fish Market Revenue Forecasts To 2028 (US$ Million)
- 7.5 Crustaceans
- 7.5.1 Overview
- 7.5.2 MEA Crustaceans Market Revenue Forecasts To 2028 (US$ Million)
- 7.6 Mollusca
- 7.6.1 Overview
- 7.6.2 MEA Mollusca Market Revenue Forecasts To 2028 (US$ Million)
- 7.7 Others
- 7.7.1 Overview
- 7.7.2 MEA Others Market Revenue Forecasts To 2028 (US$ Million)
- 8. MEA Aquaculture Market Analysis - By Culture Environment
- 8.1 Overview
- 8.2 MEA Aquaculture Market Breakdown, By Culture Environment, 2020 & 2028
- 8.3 Fresh Water
- 8.3.1 Overview
- 8.3.2 MEA Fresh Water Aquaculture Market Revenue Forecasts To 2028 (US$ Million)
- 8.4 Brackish Water
- 8.4.1 Overview
- 8.4.2 MEA Brackish Water Aquaculture Market Revenue Forecasts To 2028 (US$ Million)
- 8.5 Marine Water
- 8.5.1 Overview
- 8.5.2 MEA Marine Water Aquaculture Market Revenue Forecasts To 2028 (US$ Million)
- 9. MEA Aquaculture Market - Country Analysis
- 9.1 Overview
- 9.1.1 MEA Aquaculture Market Breakdown, by Key Countries
- 9.1.1.1 South Africa Aquaculture Market Revenue Forecasts to 2028 (US$ Million)
- 9.1.1.1.1 South Africa Aquaculture Market Breakdown by Product Type
- 9.1.1.1.2 South Africa Aquaculture Market Revenue Share, South Africa Aquaculture Market Breakdown by Culture Environment
- 9.1.1.2 Saudi Arabia Aquaculture Market Revenue Forecasts to 2028 (US$ Million)
- 9.1.1.2.1 Saudi Arabia Aquaculture Market Breakdown by Product Type
- 9.1.1.2.2 Saudi Arabia Aquaculture Market Breakdown by Culture Environment
- 9.1.1.3 UAE Aquaculture Market Revenue Forecasts to 2028 (US$ Million)
- 9.1.1.3.1 UAE Aquaculture Market Breakdown by Product Type
- 9.1.1.3.2 UAE Aquaculture Market Breakdown by Culture Environment
- 9.1.1.4 Rest of the MEA Aquaculture Market Revenue Forecasts to 2028 (US$ Million)
- 9.1.1.4.1 Rest of the MEA Aquaculture Market Breakdown by Product Type
- 9.1.1.4.2 Rest of the MEA Aquaculture Market Breakdown by Culture Environment
- 10. Impact of COVID-19 Pandemic on MEA Aquaculture Market
- 10.1 MEA: Impact Assessment of COVID-19 Pandemic
- 11. Company Profiles
- 11.1 JBS S.A.
- 11.1.1 Key Facts
- 11.1.2 Business Description
- 11.1.3 Products and Services
- 11.1.4 Financial Overview
- 11.1.5 SWOT Analysis
- 11.1.6 Key Developments
- 11.2 Cermaq Group AS
- 11.2.1 Key Facts
- 11.2.2 Business Description
- 11.2.3 Products and Services
- 11.2.4 Financial Overview
- 11.2.5 SWOT Analysis
- 11.2.6 Key Developments
- 11.3 Mowi ASA
- 11.3.1 Key Facts
- 11.3.2 Business Description
- 11.3.3 Products and Services
- 11.3.4 Financial Overview
- 11.3.5 SWOT Analysis
- 11.3.6 Key Developments
- 11.4 Stolt-Nielsen
- 11.4.1 Key Facts
- 11.4.2 Business Description
- 11.4.3 Products and Services
- 11.4.4 Financial Overview
- 11.4.5 SWOT Analysis
- 11.4.6 Key Developments
- 11.5 Thai Union Group PCL.
- 11.5.1 Key Facts
- 11.5.2 Business Description
- 11.5.3 Products and Services
- 11.5.4 Financial Overview
- 11.5.5 SWOT Analysis
- 11.5.6 Key Developments
- 12. Appendix
- 12.1 About The Insight Partners
- 12.2 Glossary
- List of Tables
- Table 1. MEA Aquaculture Market Revenue Forecasts to 2028 (US$ Million)
- Table 2. South Africa Aquaculture Market Revenue and Forecasts to 2028 - By Product Type (US$ Million)
- Table 3. South Africa Aquaculture Market Revenue and Forecasts to 2028 - By Culture Environment (US$ Million)
- Table 4. Saudi Arabia Aquaculture Market Revenue and Forecasts to 2028 - By Product Type (US$ Million)
- Table 5. Saudi Arabia Aquaculture Market Revenue and Forecasts to 2028 - By Culture Environment (US$ Million)
- Table 6. UAE Aquaculture Market Revenue and Forecasts to 2028 - By Product Type (US$ Million)
- Table 7. UAE Aquaculture Market Revenue and Forecasts to 2028 - By Culture Environment (US$ Million)
- Table 8. Rest of the MEA Aquaculture Market Revenue and Forecasts to 2028 - By Product Type (US$ Million)
- Table 9. Rest of the MEA Aquaculture Market Revenue and Forecasts to 2028 - By Culture Environment (US$ Million)
- Table 10. Glossary of terms, MEA Aquaculture Market
- List of Figures
- Figure 1. MEA Aquaculture Market Segmentation
- Figure 2. MEA Aquaculture Market Segmentation - By Country
- Figure 3. MEA Aquaculture Market Overview
- Figure 4. Marine Water Segment Held Largest Share in the MEA Aquaculture Market
- Figure 5. Rest of MEA Held the Largest Share in the MEA Aquaculture Market
- Figure 6. Porter's Five Forces Analysis
- Figure 7. Expert Opinion
- Figure 8. MEA Aquaculture Market Impact Analysis of Driver and Restraints
- Figure 9. MEA Aquaculture Market Forecast and Analysis, (US$ Million)
- Figure 10. MEA Aquaculture Market Breakdown by Product Type, 2020 & 2028 (%)
- Figure 11. MEA Aquatic Plants Market Revenue Forecasts To 2028 (US$ Million)
- Figure 12. MEA Fish Market Revenue Forecasts To 2028 (US$ Million)
- Figure 13. MEA Crustaceans Market Revenue Forecasts To 2028 (US$ Million)
- Figure 14. MEA Mollusca Market Revenue Forecasts To 2028 (US$ Million)
- Figure 15. MEA Others Market Revenue Forecasts To 2028 (US$ Million)
- Figure 16. MEA Aquaculture Market Breakdown by Culture Environment, 2020 & 2028 (%)
- Figure 17. MEA Fresh Water Aquaculture Market Revenue Forecasts To 2028 (US$ Million)
- Figure 18. MEA Brackish Water Aquaculture Market Revenue Forecasts To 2028 (US$ Million)
- Figure 19. MEA Marine Water Aquaculture Market Revenue Forecasts To 2028 (US$ Million)
- Figure 20. MEA Aquaculture Market Revenue and Forecasts to 2028 (US$ Million)
- Figure 21. MEA Aquaculture Market Breakdown by Key Countries, 2020 & 2028 (%)
- Figure 22. South Africa Aquaculture Market Forecasts to 2028 (US$ Million)
- Figure 23. Saudi Arabia Aquaculture Market Forecasts to 2028 (US$ Million)
- Figure 24. UAE Aquaculture Market Forecasts to 2028 (US$ Million)
- Figure 25. Rest of the MEA Aquaculture Market Forecasts to 2028 (US$ Million)
- Figure 26. Impact of COVID-19 Pandemic in the MEA Country Markets
Pricing
Currency Rates
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