Kuwait: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Kuwait

In 2022, the Kuwaiti frozen fish and seafood market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2019 indices. Over the period under review, the market hit record highs at $X in 2021, and then dropped in the following year.

Production of Frozen Fish And Seafood in Kuwait

In value terms, frozen fish and seafood production rose to $X in 2022 estimated in export price. Over the period under review, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of X%. Frozen fish and seafood production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Frozen Fish And Seafood

Exports from Kuwait

In 2022, overseas shipments of frozen fish and seafood increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, frozen fish and seafood exports skyrocketed to $X in 2022. In general, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X tons) was the main destination for frozen fish and seafood exports from Kuwait, with a X% share of total exports. Moreover, frozen fish and seafood exports to Qatar exceeded the volume sent to the second major destination, Iraq (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Qatar stood at X%.

In value terms, Qatar ($X) remains the key foreign market for frozen fish and seafood exports from Kuwait, comprising X% of total exports. The second position in the ranking was taken by Iraq ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Qatar amounted to X%.

Export Prices by Country

In 2022, the average frozen fish and seafood export price amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price, however, continues to indicate prominent growth. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then dropped remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Iraq totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Frozen Fish And Seafood

Imports into Kuwait

In 2022, supplies from abroad of frozen fish and seafood decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2021, and then dropped in the following year.

In value terms, frozen fish and seafood imports contracted to $X in 2022. Over the period under review, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

India (X tons), Myanmar (X tons) and the United Arab Emirates (X tons) were the main suppliers of frozen fish and seafood imports to Kuwait, with a combined X% share of total imports. Vietnam, Taiwan (Chinese), Iran, Saudi Arabia, Pakistan and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Iran (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, India ($X) constituted the largest supplier of frozen fish and seafood to Kuwait, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Myanmar, with a X% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Myanmar (X% per year).

Import Prices by Country

The average frozen fish and seafood import price stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2013 an increase of X%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform

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