GCC: Market for Dried Or Smoked Fish 2024

Market Size for Dried Or Smoked Fish in GCC

The GCC dried or smoked fish market declined slightly to $X in 2021, waning by -4.8% against the previous year. In general, consumption, however, showed a resilient expansion. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Dried Or Smoked Fish in GCC

In value terms, dried or smoked fish production declined to $X in 2021 estimated in export price. Overall, production, however, saw a prominent increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 48% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Dried Or Smoked Fish

Exports in GCC

After two years of growth, shipments abroad of dried or smoked fish decreased by -16.7% to X tons in 2021. In general, exports, however, posted resilient growth. The pace of growth appeared the most rapid in 2019 when exports increased by 306%. The volume of export peaked at X tons in 2020, and then reduced sharply in the following year.

In value terms, dried or smoked fish exports rose slightly to $X in 2021. Over the period under review, exports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 85%. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates prevails in exports structure, finishing at X tons, which was near 93% of total exports in 2021. It was distantly followed by Oman (X tons), constituting a 6.6% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to dried or smoked fish exports from the United Arab Emirates stood at +8.4%. At the same time, Oman (+22.8%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +22.8% from 2012-2021. From 2012 to 2021, the share of Oman increased by +4.4 percentage points.

In value terms, the United Arab Emirates ($X) remains the largest dried or smoked fish supplier in GCC, comprising 88% of total exports. The second position in the ranking was held by Oman ($X), with an 11% share of total exports.

In the United Arab Emirates, dried or smoked fish exports expanded at an average annual rate of +6.0% over the period from 2012-2021.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, increasing by 24% against the previous year. Overall, the export price, however, continues to indicate a pronounced slump. The pace of growth was the most pronounced in 2018 when the export price increased by 73%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Oman ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (-1.8%).

Imports of Dried Or Smoked Fish

Imports in GCC

For the fifth year in a row, GCC recorded decline in purchases abroad of dried or smoked fish, which decreased by -5.8% to X tons in 2021. Over the period under review, imports faced a abrupt slump. The most prominent rate of growth was recorded in 2014 when imports increased by 32% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, dried or smoked fish imports rose markedly to $X in 2021. Overall, imports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 29% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the major importer of dried or smoked fish in GCC, with the volume of imports recording X tons, which was approx. 46% of total imports in 2021. Kuwait (X tons) held the second position in the ranking, followed by Qatar (X tons), Oman (X tons) and Bahrain (X tons). All these countries together took near 54% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to dried or smoked fish imports into the United Arab Emirates stood at -14.0%. At the same time, Bahrain (+4.7%) and Kuwait (+2.1%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +4.7% from 2012-2021. By contrast, Oman (-8.7%) and Qatar (-8.8%) illustrated a downward trend over the same period. Kuwait (+16 p.p.), Bahrain (+5.2 p.p.), Qatar (+4.4 p.p.) and Oman (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -10.9% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported dried or smoked fish in GCC, comprising 49% of total imports. The second position in the ranking was held by Kuwait ($X), with a 23% share of total imports. It was followed by Qatar, with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates totaled -12.0%. In the other countries, the average annual rates were as follows: Kuwait (+2.8% per year) and Qatar (-11.0% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, surging by 15% against the previous year. Import price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, dried or smoked fish import price decreased by -31.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 an increase of 64% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the United Arab Emirates ($X per ton) and Kuwait ($X per ton), while Bahrain ($X per ton) and Oman ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform