MENA: Preserved Anchovies Market 2024

Preserved Anchovies Market Size in MENA

In 2021, the MENA's preserved anchovies market decreased by -0.7% to $X, falling for the second consecutive year after four years of growth. The total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.0% 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 -1.7% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Preserved Anchovies Production in MENA

In value terms, preserved anchovies production reached $X in 2021 estimated in export price. The total production indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.5% 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 -0.1% against 2019 indices. The growth pace was the most rapid in 2018 with an increase of 36% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Preserved Anchovies Exports

Exports in MENA

In 2021, after two years of decline, there was significant growth in shipments abroad of anchovies (prepared or preserved), when their volume increased by 16% to X tons. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 21%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

In value terms, preserved anchovies exports expanded rapidly to $X in 2021. The total export value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 32%. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Morocco represented the largest exporter of anchovies (prepared or preserved) in MENA, with the volume of exports amounting to X tons, which was near 83% of total exports in 2021. Tunisia (X tons) ranks second in terms of the total exports with an 11% share, followed by Turkey (5.2%).

Morocco was also the fastest-growing in terms of the anchovies (prepared or preserved) exports, with a CAGR of +1.5% from 2012 to 2021. Turkey experienced a relatively flat trend pattern. Tunisia (-4.4%) illustrated a downward trend over the same period. While the share of Morocco (+6.9 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Tunisia (-6.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Morocco ($X) remains the largest preserved anchovies supplier in MENA, comprising 82% of total exports. The second position in the ranking was held by Tunisia ($X), with a 15% share of total exports.

In Morocco, preserved anchovies exports increased at an average annual rate of +2.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Tunisia (-1.1% per year) and Turkey (-0.2% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, reducing by -3.5% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2017 an increase of 9.9% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, 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 Tunisia ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Tunisia (+3.5%), while the other leaders experienced more modest paces of growth.

Preserved Anchovies Imports

Imports in MENA

After two years of decline, overseas purchases of anchovies (prepared or preserved) increased by 74% to X tons in 2021. Overall, imports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2015 with an increase of 79% against the previous year. 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 anchovies imports soared to $X in 2021. Over the period under review, imports, however, saw a slight decrease. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Israel represented the main importer of anchovies (prepared or preserved) in MENA, with the volume of imports reaching X tons, which was approx. 44% of total imports in 2021. The United Arab Emirates (X tons) took the second position in the ranking, followed by Egypt (X tons), Kuwait (X tons) and Bahrain (X tons). All these countries together took approx. 47% share of total imports. Turkey (X tons) followed a long way behind the leaders.

Imports into Israel decreased at an average annual rate of -2.3% from 2012 to 2021. At the same time, Turkey (+45.9%), the United Arab Emirates (+24.8%), Bahrain (+23.1%) and Kuwait (+16.6%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in MENA, with a CAGR of +45.9% from 2012-2021. By contrast, Egypt (-12.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates, Israel, Kuwait, Bahrain and Turkey increased by +18, +13, +5.4, +4.2 and +2.8 percentage points, respectively.

In value terms, Israel ($X) constitutes the largest market for imported anchovies (prepared or preserved) in MENA, comprising 48% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total imports. It was followed by Egypt, with an 18% share.

From 2012 to 2021, the average annual growth rate of value in Israel stood at +2.6%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+21.4% per year) and Egypt (-8.7% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, dropping by -3.9% against the previous year. Import price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, preserved anchovies import price increased by +15.1% against 2017 indices. The most prominent rate of growth was recorded in 2016 an increase of 48% against the previous year. The level of import peaked at $X per ton in 2020, and then shrank modestly in the following year.

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 Turkey ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+5.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform