GCC: Frozen Fish Market 2024

Frozen Fish Market Size in GCC

The GCC frozen fish market fell to $X in 2022, shrinking by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X, and then fell in the following year.

Frozen Fish Production in GCC

In value terms, frozen fish production expanded to $X in 2022 estimated in export price. In general, production enjoyed a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Frozen Fish Exports

Exports in GCC

In 2022, approx. X tons of frozen fish were exported in GCC; which is down by X% against 2021 figures. In general, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, frozen fish exports dropped to $X in 2022. Overall, exports, however, recorded a resilient increase. The growth pace was the most rapid in 2018 with an increase of X%. The level of export peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Oman dominates exports structure, resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), constituting a X% share of total exports. Saudi Arabia (X tons) took a little share of total exports.

Oman was also the fastest-growing in terms of the frozen fish exports, with a CAGR of X% from 2012 to 2022. Saudi Arabia and the United Arab Emirates experienced a relatively flat trend pattern. While the share of Oman (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) and the United Arab Emirates (X p.p.) displayed negative dynamics.

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

In Oman, frozen fish exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price saw a abrupt setback. The growth pace was the most rapid in 2014 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced a decline in the export price figures.

Frozen Fish Imports

Imports in GCC

Frozen fish imports declined to X tons in 2022, which is down by X% compared with 2021. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, frozen fish imports fell to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) prevails in imports structure, together achieving X% of total imports. Kuwait (X tons) held the next position in the ranking, followed by Oman (X tons), Qatar (X tons) and Bahrain (X tons). All these countries together took approx. X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Qatar, Oman and Bahrain lagged somewhat behind, together comprising a further X%.

Qatar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, approximately reflecting the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform