GCC: Market for Flours, Meals And Pellets Of Fish 2024

Market Size for Flours, Meals And Pellets Of Fish in GCC

In 2021, after two years of decline, there was growth in the GCC fish meals and pellet market, when its value increased by 3.6% to $X. In general, consumption, however, continues to indicate a pronounced decline. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Flours, Meals And Pellets Of Fish in GCC

In value terms, fish meals and pellet production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a slight downturn. The most prominent rate of growth was recorded in 2014 when the production volume increased by 7.5% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Flours, Meals And Pellets Of Fish

Exports in GCC

In 2021, exports of flours, meals and pellets of fish in GCC contracted to X tons, declining by -6.8% against the previous year. In general, exports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 194% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, fish meals and pellet exports shrank to $X in 2021. Over the period under review, exports showed a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when exports increased by 68% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Oman represented the major exporter of flours, meals and pellets of fish in GCC, with the volume of exports recording X tons, which was approx. 74% of total exports in 2021. Bahrain (X tons) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (8.6%). The United Arab Emirates (X tons) followed a long way behind the leaders.

Oman was also the fastest-growing in terms of the flours, meals and pellets of fish exports, with a CAGR of +23.4% from 2012 to 2021. At the same time, Bahrain (+17.6%) displayed positive paces of growth. By contrast, Saudi Arabia (-4.9%) and the United Arab Emirates (-18.1%) illustrated a downward trend over the same period. Oman (+53 p.p.) and Bahrain (+7.4 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and the United Arab Emirates saw its share reduced by -16.6% and -44% from 2012 to 2021, respectively.

In value terms, Oman ($X) remains the largest fish meals and pellet supplier in GCC, comprising 54% of total exports. The second position in the ranking was held by Bahrain ($X), with a 24% share of total exports. It was followed by Saudi Arabia, with a 13% share.

In Oman, fish meals and pellet exports increased at an average annual rate of +1.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Bahrain (+18.4% per year) and Saudi Arabia (-7.2% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, with an increase of 2.9% against the previous year. In general, the export price, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2018 when the export price increased by 12% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+0.7%), while the other leaders experienced a decline in the export price figures.

Imports of Flours, Meals And Pellets Of Fish

Imports in GCC

In 2021, supplies from abroad of flours, meals and pellets of fish decreased by -10.5% to X tons, falling for the fourth year in a row after two years of growth. In general, imports showed a noticeable setback. The pace of growth appeared the most rapid in 2013 when imports increased by 208%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, fish meals and pellet imports surged to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 92%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the major importer of flours, meals and pellets of fish in GCC, with the volume of imports resulting at X tons, which was near 56% of total imports in 2021. Oman (X tons) ranks second in terms of the total imports with an 11% share, followed by Bahrain (11%), Qatar (10%), Saudi Arabia (7.1%) and Kuwait (5.2%).

From 2012 to 2021, average annual rates of growth with regard to fish meals and pellet imports into the United Arab Emirates stood at -5.5%. At the same time, Bahrain (+8.4%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +8.4% from 2012-2021. By contrast, Kuwait (-3.6%), Oman (-3.9%), Qatar (-4.4%) and Saudi Arabia (-38.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Saudi Arabia and Bahrain increased by +7.1 and +6.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fish meals and pellet importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X), together accounting for 83% of total imports.

The United Arab Emirates, with a CAGR of +4.8%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, rising by 61% against the previous year. Import price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+35.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform