GCC: Frozen Cuttlefishes Market 2025

Frozen Cuttlefishes Market Size in GCC

The GCC frozen cuttlefishes market expanded remarkably to $X in 2021, picking up by 9.1% against the previous year. The total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +9.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -0.2% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Frozen Cuttlefishes Production in GCC

In value terms, frozen cuttlefishes production expanded remarkably to $X in 2021 estimated in export price. The total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.6% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 29%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Frozen Cuttlefishes Exports

Exports in GCC

Frozen cuttlefishes exports fell rapidly to X tons in 2021, waning by -25.7% compared with the year before. Over the period under review, exports continue to indicate a sharp slump. The pace of growth appeared the most rapid in 2015 when exports increased by 114%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, frozen cuttlefishes exports fell notably to $X in 2021. Overall, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 160%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, Saudi Arabia (X tons), distantly followed by Bahrain (X tons), Oman (X tons) and the United Arab Emirates (X tons) represented the major exporters of frozen cuttlefishes, together generating 99.9% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Saudi Arabia (with a CAGR of +9.3%), while the other leaders experienced a decline in the exports figures.

In value terms, Oman ($X), Bahrain ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 76% share of total exports.

Among the main exporting countries, Saudi Arabia, with a CAGR of +2.5%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, rising by 6.1% against the previous year. Over the last nine years, it increased at an average annual rate of +2.6%. The growth pace was the most rapid in 2018 when the export price increased by 24% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 the United Arab Emirates (+7.6%), while the other leaders experienced mixed trends in the export price figures.

Frozen Cuttlefishes Imports

Imports in GCC

In 2021, overseas purchases of frozen cuttlefishes decreased by -12.6% to X tons, falling for the sixth consecutive year after two years of growth. In general, imports recorded a sharp downturn. The pace of growth appeared the most rapid in 2014 with an increase of 40% against the previous year. The volume of import peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, frozen cuttlefishes imports expanded notably to $X in 2021. Over the period under review, imports saw a significant contraction. The growth pace was the most rapid in 2014 with an increase of 98%. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Oman (X tons) and Kuwait (X tons) represented the key importers of frozen cuttlefishes in GCC, together comprising 66% of total imports. It was distantly followed by the United Arab Emirates (X tons), Bahrain (X tons) and Qatar (X tons), together mixing up a 34% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Kuwait (with a CAGR of +1.3%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Kuwait ($X), Oman ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2021, together comprising 77% of total imports.

Kuwait, with a CAGR of +6.7%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, increasing by 22% against the previous year. Import price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen cuttlefishes import price increased by +58.0% against 2018 indices. The growth pace was the most rapid in 2014 when the import price increased by 41% against the previous year. Over the period under review, import prices attained the peak figure in 2021 and is likely to continue growth in the near future.

Prices varied noticeably country of destination: 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 the United Arab Emirates (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform