MENA: Market for Caviar (Salmon) And Caviar Substitutes 2024

Market Size for Caviar (Salmon) And Caviar Substitutes in MENA

After two years of decline, the MENA's market for caviar (salmon) and caviar substitutes increased by 8.8% to $X in 2021. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Production of Caviar (Salmon) And Caviar Substitutes in MENA

In value terms, caviar (salmon) and caviar substitutes production totaled $X in 2021 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 19% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Caviar (Salmon) And Caviar Substitutes

Exports in MENA

In 2021, exports of caviar (salmon) and caviar substitutes in MENA surged to X tons, picking up by 340% against the previous year. Over the period under review, exports recorded a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, caviar (salmon) and caviar substitutes exports surged to $X in 2021. Overall, exports enjoyed a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey dominates exports structure, finishing at X tons, which was near 94% of total exports in 2021. Iran (X tons) took a minor share of total exports.

Turkey was also the fastest-growing in terms of the caviar (salmon) and caviar substitutes exports, with a CAGR of +26.7% from 2012 to 2021. At the same time, Iran (+3.8%) displayed positive paces of growth. While the share of Turkey (+41 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Iran (-7.2 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest caviar (salmon) and caviar substitutes supplier in MENA, comprising 84% of total exports. The second position in the ranking was held by Iran ($X), with a 3.6% share of total exports.

In Turkey, caviar (salmon) and caviar substitutes exports expanded at an average annual rate of +14.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, which is down by -16% against the previous year. In general, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2015 an increase of 83%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, the country with the highest price was Iran ($X per ton), while Turkey totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (-5.2%).

Imports of Caviar (Salmon) And Caviar Substitutes

Imports in MENA

In 2021, approx. X tons of caviar (salmon) and caviar substitutes were imported in MENA; with an increase of 11% on the previous year. Total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -17.1% against 2016 indices. The most prominent rate of growth was recorded in 2015 with an increase of 32%. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, caviar (salmon) and caviar substitutes imports skyrocketed to $X in 2021. Total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +9.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 32% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Israel was the key importing country with an import of around X tons, which recorded 54% of total imports. The United Arab Emirates (X tons) held the second position in the ranking, followed by Turkey (X tons) and Egypt (X tons). All these countries together held approx. 35% share of total imports. The following importers - Morocco (X tons), Kuwait (X tons) and Qatar (X tons) - together made up 8.5% of total imports.

Imports into Israel increased at an average annual rate of +7.8% from 2012 to 2021. At the same time, Qatar (+38.5%), Kuwait (+33.1%), Turkey (+21.3%), the United Arab Emirates (+9.5%), Morocco (+8.1%) and Egypt (+2.1%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in MENA, with a CAGR of +38.5% from 2012-2021. From 2012 to 2021, the share of Turkey, Israel, Kuwait, the United Arab Emirates and Qatar increased by +8.2, +2.6, +2.5, +2.2 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported caviar (salmon) and caviar substitutes in MENA, comprising 52% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 17% share of total imports. It was followed by Turkey, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in Israel totaled +14.2%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+8.4% per year) and Turkey (+23.3% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, picking up by 17% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was the United Arab Emirates ($X per ton), while Egypt ($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 (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform