GCC: Market for Frozen Crabs And Crabs Meat 2024

Market Size for Frozen Crabs And Crabs Meat in GCC

In 2021, the GCC market for frozen crabs and crabs meat increased by 37% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption, however, saw a mild downturn. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Production of Frozen Crabs And Crabs Meat in GCC

In value terms, frozen crab and crab meat production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by 12%. As a result, production reached the peak level of $X, and then declined in the following year.

Exports of Frozen Crabs And Crabs Meat

Exports in GCC

In 2021, overseas shipments of frozen crabs and crabs meat decreased by -17.8% to X tons, falling for the second consecutive year after four years of growth. Overall, exports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2018 when exports increased by 67%. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, frozen crab and crab meat exports fell notably to $X in 2021. Over the period under review, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 52% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Bahrain dominates exports structure, accounting for X tons, which was near 96% of total exports in 2021. The following exporters - Saudi Arabia (X tons) and the United Arab Emirates (X tons) - each recorded a 3.7% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to frozen crab and crab meat exports from Bahrain stood at +8.5%. At the same time, Saudi Arabia (+67.3%) and the United Arab Emirates (+15.6%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +67.3% from 2012-2021. From 2012 to 2021, the share of Saudi Arabia increased by +1.9 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Bahrain ($X) remains the largest frozen crab and crab meat supplier in GCC, comprising 94% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 4.6% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Bahrain amounted to +7.2%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+14.1% per year) and Saudi Arabia (+57.7% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price saw a slight descent. The growth pace was the most rapid in 2020 when the export price increased by 7.9%. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($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 (-1.2%), while the other leaders experienced a decline in the export price figures.

Imports of Frozen Crabs And Crabs Meat

Imports in GCC

In 2021, overseas purchases of frozen crabs and crabs meat increased by 5.2% to X tons, rising for the third year in a row after two years of decline. Overall, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2020 when imports increased by 75%. The volume of import peaked in 2021 and is expected to retain growth in years to come.

In value terms, frozen crab and crab meat imports skyrocketed to $X in 2021. In general, imports posted prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates represented the key importer of frozen crabs and crabs meat in GCC, with the volume of imports amounting to X tons, which was near 76% of total imports in 2021. Qatar (X tons) ranks second in terms of the total imports with an 11% share, followed by Kuwait (8%). Oman (X tons) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of +6.1% from 2012 to 2021. At the same time, Qatar (+30.1%) and Kuwait (+13.7%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +30.1% from 2012-2021. By contrast, Oman (-10.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Qatar, Kuwait and the United Arab Emirates increased by +9.4, +3.8 and +1.6 percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported frozen crabs and crabs meat in GCC, comprising 78% of total imports. The second position in the ranking was taken by Qatar ($X), with a 16% share of total imports. It was followed by Kuwait, with a 4.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates totaled +7.4%. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+31.9% per year) and Kuwait (+13.2% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, picking up by 77% against the previous year. Overall, the import price saw tangible growth. The pace of growth was the most pronounced in 2017 when the import price increased by 86%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Qatar ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+1.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform