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, 2028
Published Date: July - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Agriculture | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationEgypt 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, 2028
In 2022, Egypt’s revenue in fish and seafood segment has moved drastically which amounts to be approximately USD 12.8 billion
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. In this article, we will explore the history, benefits, challenges, and future prospects of aquaculture. As the world’s population continues to grow, demand for food is increasing. Aquaculture can provide a sustainable source of protein and essential nutrients, particularly in areas where traditional fishing is not possible or not sufficient to meet local demand.
Like all forms of agriculture, aquaculture can have a negative impact on the environment. Fish farming can lead to the pollution of waterways through the release of waste and chemicals and can contribute to the spread of disease and parasites.
Despite the challenges facing the industry, aquaculture is expected to continue to grow in the coming years. The global demand for seafood is increasing, and aquaculture is seen as an important way to meet this demand sustainably. Advances in technology, such as improved feed formulations and disease management techniques, are also expected to make aquaculture more efficient and sustainable.
Aquaculture has been practiced in Egypt for thousands of years, particularly in the Nile Delta and the Red Sea. The ancient Egyptians used fish ponds and canals to breed and rear fish for food, and the practice continued throughout the centuries, with the Copts, Arabs, and Ottomans all contributing to the development of aquaculture in the region. In the modern era, aquaculture began to develop as a commercial industry in the 1950s, when the government established a fish farming research center and began to encourage private investment in the sector.
Today, Egypt is one of the largest producers of farmed fish in Africa, with an estimated annual production of around 1.3 million tons. The majority of this production comes from tilapia, which accounts for around 90% of farmed fish in the country. Other important species include carp, catfish, and mullet. Aquaculture is an important source of income and employment for rural communities, particularly in the Nile Delta and along the Red Sea coast.
Increasing Demand for Fishes in the Country are Driving Market Growth
One of the primary growth drivers of the Egypt aquaculture market is increasing demand for fish, both domestically and internationally. Egypt is a significant consumer of fish, with per capita consumption estimated at around 21 kg per year. With a growing population and increasing demand for protein-rich foods, the demand for fish is expected to continue to rise in the coming years.
Government Support is Driving Market Growth
The Egyptian government has recognized the importance of the aquaculture industry for food security and economic development, and has implemented a range of policies and programs to support the sector which includes Investment in research and development to improve fish breeding, disease management, and feed quality, Establishment of new fish farms and upgrading of existing facilities, Provision of financial support to small and medium-sized enterprises (SMEs) in the aquaculture industry.
The development of new technologies, such as recirculating aquaculture systems (RAS) and aquaponics, is expected to provide new opportunities for fish farming in Egypt. RAS systems allow for intensive fish production in a controlled environment, with minimal water use and reduced environmental impact. Aquaponics systems combine fish farming with the production of vegetables or other crops, creating a sustainable and integrated production system.
Major Challenges faced by Aquaculture Market
Water quality is a critical factor in the success of aquaculture operations. Poor water quality can lead to reduced growth rates, increased disease susceptibility, and even mortality in fish. In Egypt, the quality of water used for aquaculture can be affected by several factors, including pollution, sedimentation, and salinity.
Disease outbreaks can have a devastating impact on aquaculture operations, leading to significant financial losses and production delays. In Egypt, disease outbreaks have been reported in several fish species, including tilapia, which is one of the most widely farmed species in the country to address this challenge, the government has invested in research and development to improve disease prevention and management. In addition, farmers are encouraged to implement biosecurity measures, such as the use of disinfectants and quarantining new stock before introduction to existing populations.
Access to international markets is essential for the growth and development of the Egypt aquaculture industry. However, the industry faces several challenges in accessing these markets, including trade barriers, certification requirements, and competition from other countries.
Recent Trends and Developments
The Egypt aquaculture industry has also seen significant advancements in technology over the past three years. One notable development is the adoption of recirculating aquaculture systems (RAS), which allows for the production of high-quality fish with minimal water usage and waste. In addition, the industry has seen advancements in fish genetics, feed formulation, and disease prevention, which have all contributed to improved production efficiency and sustainability.
The Egyptian government has implemented several initiatives to support the growth and development of the aquaculture industry. In 2019, the government launched a program to support the development of fish farms in the country, with a goal of increasing production by 50% by 2023. The government has also launched regulations to improve water quality and reduce pollution in aquaculture operations. In addition, the government has worked to promote the adoption of international certification standards, such as those set by the Aquaculture Stewardship Council (ASC), to increase market access for Egyptian farmed fish.
The COVID-19 pandemic had a significant impact on the Egypt aquaculture industry, as it did on many other sectors of the economy. The closure of international markets and disruption to global supply chains led to a decline in exports of farmed fish from Egypt.
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Market Segmentation
Egypt Aquaculture Market
Market Players
Agrimatic Farms, Bustan Aquaponics, Evergreen Egypt United, Grand Fish Feed., NatureWorks, Suez Canal Fish Farming and Aquaculture Company., PNG Advanced Agriculture Solutions
|
Attribute |
Details |
|
Base Year |
2022 |
|
Historic Data |
2018 – 2021 |
|
Estimated
Year |
2023 |
|
Forecast Period |
2024 – 2028 |
|
Quantitative
Units |
Revenue
in USD Million, and CAGR for 2018-2022 and 2023-2028 |
|
Report
coverage |
Revenue
forecast, company share, competitive landscape, growth factors, and trends |
|
Segments
covered |
Type Species Production
Type Distribution
Channel |
|
Regional
scope |
Cairo,
Alexandria, Giza, Qalyubia, Port Said, Suez, and Rest of Egypt |
|
Key companies
profiled |
Agrimatic Farms, Bustan Aquaponics,
Evergreen Egypt United, Grand Fish Feed., NatureWorks, Suez Canal Fish
Farming and Aquaculture Company., PNG Advanced Agriculture Solutions |
|
Customization
scope |
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope. |
|
Pricing and
purchase options |
Avail
customized purchase options to meet your exact research needs. Explore
purchase options |
|
Delivery Format |
PDF and Excel through Email (We can also provide the editable version
of the report in PPT/Word format on special request) |
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