Egypt Aquaculture Market to be Dominated by Land Based Aquaculture Segment Through 2028
Egypt
Aquaculture Market is growing owing to the increased demand for fish in the
country.
According to TechSci Research report, “Egypt Aquaculture Market - By
Region, Competition Forecast and Opportunities, 2018-2028," The Egypt Aquaculture
Market is anticipated to grow at an impressive rate in the forecast period
2024-2028. Egypt Aquaculture market is expected to grow impressively through
2028 due to increase in demand for fish in the country. Aquaculture, also known as fish farming or
aqua farming, is the practice of cultivating aquatic organisms such as fish,
crustaceans, mollusks, and aquatic plants for food, recreation, and
conservation. Aquaculture is a rapidly growing sector of the global economy and
is increasingly recognized as an important source of food and income for
millions of people around the world.
Aquaculture is a vital component of animal agriculture, as it provides the
necessary nutrients for animal growth, health, and productivity. The
ingredients and composition of Aquaculture vary depending on the type of animal
being fed and its stage of life. High-quality Aquaculture is essential for
animal health and productivity, and its production involves several steps,
including inspection, testing, grinding, mixing, and pelleting or extruding.
Aquaculture is a complex and rapidly evolving industry that offers a range of
benefits and challenges. While there are concerns about the environmental
impact of fish farming and the dependency on wild-caught fish for feed,
aquaculture is increasingly recognized as an important way to provide
sustainable food. The aquaculture industry in Egypt is expected to continue to
grow in the coming years, driven by increasing demand for fish and the
government's commitment to supporting the sector. The government has set a
target of increasing annual fish production to 2 million tons by 2022, and has
announced plans to establish new fish farms, upgrade existing facilities, and
increase research and development in the sector.
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Competition from other African countries, such as Nigeria, Ghana, and Kenya,
can also impact the growth and development of the Egypt aquaculture industry.
These countries have significant aquaculture production capabilities and are
also targeting international markets. To remain competitive, the Egypt
aquaculture industry needs to focus on producing high-quality fish at
competitive prices, while also investing in research and development to improve
production efficiency and sustainability.
Egypt aquaculture market faces several challenges that can impact its growth
and development, including water quality, disease management, market access,
and competition. While the government has implemented several measures to
address these challenges, further investment and research are needed to ensure
the long-term sustainability of the industry. By working collaboratively with
industry stakeholders and international partners, the Egypt aquaculture
industry can overcome these challenges and achieve its full potential as a
leading producer of farmed fish in Africa.
Egypt Aquaculture Market is segmented based on Type, Species, Production Type,
Distribution Channel and Competitive Landscape.
Based on Type, the market is divided into Land Based Aquaculture v/s Sea
Based Aquaculture. Land Based Aquaculture, segment is expected to hold the
largest market share in the forecast period.
Based on Species, the market is divided into Pelagic Fish, Demersal
Fish, Freshwater Fish. Increasing demand for fish is the primary reason
driving the segment's growth.
Major companies operating in Egypt Aquaculture Market are:
- Agrimatic Farms
- Bustan Aquaponics
- Evergreen Egypt United
- Grand Fish Feed.
- NatureWorks
- Suez Canal Fish Farming and
Aquaculture Company.
- PNG Advanced Agriculture
Solutions
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“Egypt aquaculture market has seen significant developments over the past three
years, including new investments, technological advancements, and government
initiatives. These developments have contributed to improved production
efficiency, sustainability, and market access for Egyptian farmed fish. While
the COVID-19 pandemic presented challenges for the industry, it also
highlighted the importance of local food production and the resilience of the
Egypt aquaculture market. As the industry continues to grow and develop, it is
essential to maintain a focus on sustainability, innovation, and collaboration
between government, industry stakeholders, and international partners."
said Mr. Karan Chechi, Research Director with TechSci research, a research based
global management consulting firm.
“Egypt Aquaculture Market By Type (Land Based Aquaculture v/s Sea Based
Aquaculture), By Species (Pelagic Fish, Demersal Fish, Freshwater Fish ), By
Production Type (Small Scale v/s Medium & Large Scale ), By Distribution Channel
(Traditional Retail, Supermarkets and Hypermarkets, Specialized Retailers,
Online Stores, Others), By Region, Competition Forecast & Opportunities,
2018-2028F,” has
evaluated the future growth potential of Egypt Aquaculture Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Egypt Aquaculture Market.
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