Market Assessment for Hydroponics & Aquaponics, Fisheries & Aquaculture, Food Processing and Hospitality Market in Sultanate of Oman
- The Government of the Sultanate of Oman has been developing several initiatives to accelerate the fisheries and food processing industries. There are several ongoing projects that are expected to increase self-reliance accordance to Oman Vision 2040
- Backed by the government’s stimulating initiatives and by the 3,165 km coastal line overlooking the Arabian Sea, the Sea of Oman and the Arabian Gulf, Oman’s F&A production from capture evolved from 280,000 tons in 2016 to 913,000 tons in 2021E.
- Hydroponic sector is gaining the momentum in GCC due to high focus on food security and UAE is leading the way. UAE is adopting hydroponics and vertical farming at a significant scale. It is estimated that 1,000 hydroponic farms (small and large) exist in UAE. Oman is a net importer of the green leafy vegetables. Given Oman’s harsh climate and depleting natural water resources (unfavourable for leafy greens), it can effectively use hydroponic/aquaponics methods to boost leafy green vegetables production and increase self-sufficiency.
- Total food consumption in the Sultanate grew at an annualized rate of 6.6% between 2014 and 2019, reaching 4.3 million MT in 2019. Although cereals remained the largest consumed food category in the country with a share of 26.8%, it recorded the slowest annualized growth rate at 1.3% between 2014 and 2019
- Oman’s hospitality industry is estimated to reach US$ 0.7 billion in 2022, recording a y-o-y growth of 90.9%, the fastest in the region. This can be primarily attributed to an estimated 49.5% y-o-y growth in tourist arrivals during the year and lower base of 2021 as the Sultanate continues to recover from the pandemic
Table of Contents:
Market Assessment on Sectors
- Overview of the Hydroponics/Aquaponics market in Oman – high-level product coverage, demand, trade and players
- Overview of the Fisheries and Aquaculture market in Oman – high-level product coverage, demand, trade and players
- Overview of the Food Processing market in Oman – high-level product coverage, demand, trade and players
- Overview of the hospitality overview in Oman – high-level hotel market overview in Oman and Sohar region, demand,
- Demand drivers in the Country