Kuwait: Market for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs 2024

Market Size for Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Kuwait

After five years of growth, the Kuwaiti seafood meals and pellets market decreased by -1.8% to $X in 2021. The market value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Seafood meals and pellets consumption peaked at $X in 2020, and then fell modestly in the following year.

Production of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs in Kuwait

In value terms, seafood meals and pellets production dropped slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 28%. Over the period under review, production attained the peak level at $X in 2020, and then reduced in the following year.

Exports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Exports from Kuwait

For the seventh consecutive year, Kuwait recorded decline in shipments abroad of flours, meals and pellets of fish or of crustaceans and molluscs, which decreased by -1.7% to X tons in 2021. In general, exports saw a sharp slump. The most prominent rate of growth was recorded in 2014 when exports increased by 841% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, seafood meals and pellets exports declined slightly to $X in 2021. Overall, exports continue to indicate a dramatic setback. The pace of growth appeared the most rapid in 2014 when exports increased by 593% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Pakistan (X tons) was the main destination for seafood meals and pellets exports from Kuwait, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Pakistan amounted to -25.6%.

In value terms, Pakistan ($X) also remains the key foreign market for flours, meals and pellets of fish or of crustaceans and molluscs exports from Kuwait.

From 2012 to 2021, the average annual growth rate of value to Pakistan stood at -25.8%.

Export Prices by Country

In 2021, the average seafood meals and pellets export price amounted to $X per ton, waning by -2.4% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 69% against the previous year. The export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Pakistan.

From 2012 to 2021, the rate of growth in terms of prices for Pakistan amounted to -0.2% per year.

Imports of Flours, Meals And Pellets Of Fish Or Of Crustaceans And Molluscs

Imports into Kuwait

Seafood meals and pellets imports into Kuwait reduced notably to X tons in 2021, dropping by -22.3% on 2020. In general, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 246% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, seafood meals and pellets imports skyrocketed to $X in 2021. Overall, imports, however, recorded strong growth. The pace of growth was the most pronounced in 2018 when imports increased by 249%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), the Philippines (X tons) and China (X tons) were the main suppliers of seafood meals and pellets imports to Kuwait, with a combined 91% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +52.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of flours, meals and pellets of fish or of crustaceans and molluscs to Kuwait, comprising 45% of total imports. The second position in the ranking was held by the Philippines ($X), with a 19% share of total imports. It was followed by China, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +29.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+19.8% per year) and China (+6.9% per year).

Import Prices by Country

The average seafood meals and pellets import price stood at $X per ton in 2021, growing by 51% against the previous year. Over the last nine years, it increased at an average annual rate of +4.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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