Bahrain: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Bahrain

In 2022, the Bahraini frozen fish and seafood market decreased by X% to $X for the first time since 2016, thus ending a five-year rising trend. In general, consumption, however, continues to indicate a resilient expansion. As a result, consumption attained the peak level of $X. From 2016 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Frozen Fish And Seafood in Bahrain

In value terms, frozen fish and seafood production declined modestly to $X in 2022 estimated in export price. In general, production, however, showed a resilient increase. The growth pace was the most rapid in 2015 when the production volume increased by X%. Frozen fish and seafood production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Frozen Fish And Seafood

Exports from Bahrain

In 2022, overseas shipments of frozen fish and seafood were finally on the rise to reach X tons after two years of decline. In general, exports recorded tangible growth. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen fish and seafood exports reached $X in 2022. Over the period under review, exports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Thailand (X tons) was the main destination for frozen fish and seafood exports from Bahrain, accounting for a X% share of total exports. Moreover, frozen fish and seafood exports to Thailand exceeded the volume sent to the second major destination, South Korea (X tons), threefold. The third position in this ranking was taken by Malaysia (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Thailand totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Malaysia (X% per year).

In value terms, the largest markets for frozen fish and seafood exported from Bahrain were Thailand ($X), South Korea ($X) and Japan ($X), with a combined X% share of total exports. Malaysia, the United States, Indonesia, Vietnam and Saudi Arabia lagged somewhat behind, together comprising a further X%.

The United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average frozen fish and seafood export price amounted to $X per ton, which is down by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then declined modestly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish And Seafood

Imports into Bahrain

In 2022, purchases abroad of frozen fish and seafood decreased by X% to X tons, falling for the third consecutive year after eight years of growth. Overall, imports, however, recorded a remarkable increase. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, frozen fish and seafood imports surged to $X in 2022. Over the period under review, imports, however, enjoyed strong growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Oman (X tons), Myanmar (X tons) and India (X tons) were the main suppliers of frozen fish and seafood imports to Bahrain, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish and seafood suppliers to Bahrain were India ($X), Myanmar ($X) and the United Arab Emirates ($X), together accounting for X% of total imports. Oman, Pakistan, Vietnam, Thailand, Saudi Arabia and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, Oman, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average frozen fish and seafood import price amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Myanmar (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform