GCC: Preserved Mackerel Market 2024

Preserved Mackerel Market Size in GCC

In 2021, after two years of growth, there was significant decline in the GCC preserved mackerel market, when its value decreased by -8.7% to $X. Overall, consumption, however, continues to indicate a resilient expansion. Over the period under review, the market reached the peak level at $X in 2020, and then contracted in the following year.

Preserved Mackerel Production in GCC

In value terms, preserved mackerel production shrank to $X in 2021 estimated in export price. Overall, production, however, posted a strong expansion. The pace of growth appeared the most rapid in 2015 when the production volume increased by 57%. The level of production peaked at $X in 2020, and then shrank in the following year.

Preserved Mackerel Exports

Exports in GCC

In 2021, shipments abroad of mackerel (prepared or preserved) was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of 176% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, preserved mackerel exports soared to $X in 2021. In general, exports continue to indicate strong growth. The pace of growth appeared the most rapid in 2015 with an increase of 322%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Oman (X tons), Saudi Arabia (X tons) and Bahrain (X tons), together reaching 97% of total export. The United Arab Emirates (X tons) followed a long way behind the leaders.

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 +24.2%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Saudi Arabia ($X) remains the largest preserved mackerel supplier in GCC, comprising 55% of total exports. The second position in the ranking was taken by Oman ($X), with a 23% share of total exports. It was followed by Bahrain, with a 15% share.

In Saudi Arabia, preserved mackerel exports expanded at an average annual rate of +31.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Oman (-5.5% per year) and Bahrain (+27.4% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, surging by 4.6% against the previous year. Export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved mackerel export price increased by +43.3% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 53%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+7.4%), while the other leaders experienced more modest paces of growth.

Preserved Mackerel Imports

Imports in GCC

For the sixth year in a row, GCC recorded decline in purchases abroad of mackerel (prepared or preserved), which decreased by -3% to X tons in 2021. Over the period under review, imports recorded a deep slump. The pace of growth was the most pronounced in 2015 with an increase of 31%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, preserved mackerel imports rose to $X in 2021. In general, imports saw a significant decline. The most prominent rate of growth was recorded in 2017 with an increase of 27% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the largest importing country with an import of about X tons, which resulted at 60% of total imports. It was distantly followed by Qatar (X tons), Oman (X tons) and Kuwait (X tons), together comprising a 37% share of total imports. Bahrain (X tons) took a little share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +1.9% from 2012 to 2021. At the same time, Bahrain (+3.8%) and Qatar (+3.2%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +3.8% from 2012-2021. By contrast, Oman (-1.0%) and Kuwait (-10.1%) illustrated a downward trend over the same period. The United Arab Emirates (+52 p.p.), Qatar (+23 p.p.), Oman (+4.7 p.p.), Kuwait (+2.6 p.p.) and Bahrain (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported mackerel (prepared or preserved) in GCC, comprising 66% of total imports. The second position in the ranking was taken by Qatar ($X), with a 20% share of total imports. It was followed by Oman, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +3.7%. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+4.2% per year) and Oman (+0.8% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, picking up by 7% against the previous year. Overall, the import price, however, showed a pronounced slump. The growth pace was the most rapid in 2017 an increase of 82% against the previous year. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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 Oman ($X per ton), while Qatar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform