Oman Agriculture Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

 Some of the reasons propelling the market expansion in the nation include the rise in the adoption of cutting-edge farming technologies and favorable government policies promoting local crop production. The majority of Oman's local need for fruits, vegetables, and cereals is satisfied by imports. Therefore, the nation is working toward agricultural self-sufficiency by encouraging its farmers to use cutting-edge farming methods in order to decrease import dependency. According to the Official Oman eGovernment Services Portal, to attract more agricultural investments, concerned parties in the government provide many incentives. For instance, if the agricultural project is located in the governorate of Muscat (except Quriyat), Oman Development Bank will lend up to 100% of the capital. Approximately 130% of the capital paid is supplied if the project is constructed outside of the Quriyat or Muscat governorates.

 The Agriculture Market in Oman is estimated at USD 2.11 billion in 2023, and is expected to reach USD 2.84 billion by 2028, growing at a CAGR of 6.16% during the forecast period (2023-2028). 

The increase in the adoption of advanced farming technologies and conducive government policies supporting domestic crop production are some factors driving the country's market growth. Through imports, Oman meets its domestic fruits, vegetables, and cereals demand. Therefore, to reduce import dependency, the country aims for self-sufficiency in agricultural products by encouraging its farmers to adopt advanced farming techniques.

Agricultural production in Oman consists mainly of dates, vegetables, and fruits, while other crops are cultivated at lesser volumes. According to world bank statistics, the total amount of agricultural land in Oman was about 1.4 million hectares in 2020, which accounted for 4.7% of the total land area. Fruits like bananas and papaya are also grown in coastal regions, which accounted for 18,447 ton and 5,840 ton of production, respectively, in 2020. Additionally, Oman increased its barley, sorghum, and wheat production in recent years.

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