Egypt: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Egypt

After three years of decline, the Egyptian frozen fish and seafood market increased by X% to $X in 2022. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Frozen fish and seafood consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Frozen Fish And Seafood in Egypt

In value terms, frozen fish and seafood production amounted to $X in 2022 estimated in export price. In general, the total production indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Frozen Fish And Seafood

Exports from Egypt

Frozen fish and seafood exports from Egypt rose significantly to X tons in 2022, with an increase of X% on the year before. In general, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen fish and seafood exports surged to $X in 2022. Over the period under review, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for frozen fish and seafood exports from Egypt, accounting for a X% share of total exports. Moreover, frozen fish and seafood exports to the United States exceeded the volume sent to the second major destination, Russia (X tons), tenfold. The third position in this ranking was held by Palestine (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Palestine (X% per year).

In value terms, the United States ($X) remains the key foreign market for frozen fish and seafood exports from Egypt, comprising X% of total exports. The second position in the ranking was held by Russia ($X), with a X% share of total exports. It was followed by Albania, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Albania (X.2% per year).

Export Prices by Country

The average frozen fish and seafood export price stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the export price enjoyed a resilient expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the United Arab Emirates ($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 Jordan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen Fish And Seafood

Imports into Egypt

In 2022, purchases abroad of frozen fish and seafood decreased by X% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, imports saw a perceptible slump. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, frozen fish and seafood imports expanded markedly to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared 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

Norway (X tons), Oman (X tons) and the Netherlands (X tons) were the main suppliers of frozen fish and seafood imports to Egypt, with a combined X% share of total imports. The United Arab Emirates, Ireland, Japan, Vietnam, China and Spain lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Norway ($X) and the Netherlands ($X) appeared to be the largest frozen fish and seafood suppliers to Egypt, together comprising X% of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average frozen fish and seafood import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, import price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish and seafood import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in years to come.

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 Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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