The demand for demersal fish in the United Arab Emirates, expressed in Thousand Metric Tons, showed varied trends from 2014 to 2023. In 2023, the value stood at 70.99 Thousand Metric Tons. From 2014 to 2015, there was a noticeable decline of 3%. The demand then rebounded with marginal increases through 2016 and 2017, achieving a stable level around 70.91 Thousand Metric Tons through 2018 and 2019. However, 2020 witnessed a sharp decline of 16.95%, attributed to pandemic disruptions, followed by a significant recovery of 14.54% in 2021. Recently, the demand showed steady increases: 5.32% in 2022 and 0.056% in 2023, projecting a stabilized trend with a CAGR of 0.023 over the last five years.
Looking ahead, forecasts indicate a stable demand with minimal fluctuations: predicted values range narrowly around 70.78 to 71.0 Thousand Metric Tons through 2028. The five-year CAGR forecast is 0.06%, suggesting a cumulative growth rate of approximately 0.3% over the next five years.
Future trends to watch for include:
- Impact of global economic conditions on local demand.
- Sustainability and regulatory policies influencing fishing practices.
- Technological advancements in fishing and aquaculture.
- Consumer preference shifts towards alternative seafood options.
