MENA: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in MENA

In 2021, the MENA's fresh fish fillet market decreased by -5.4% to $X for the first time since 2018, thus ending a two-year rising trend. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then declined in the following year.

Fresh Fish Fillet Production in MENA

In value terms, fresh fish fillet production expanded notably to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a buoyant expansion. The growth pace was the most rapid in 2019 with an increase of 104%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Fresh Fish Fillet Exports

Exports in MENA

In 2021, the amount of fresh or chilled fish fillets exported in MENA soared to X tons, picking up by 21% compared with the previous year's figure. Overall, exports showed resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, fresh fish fillet exports skyrocketed to $X in 2021. In general, exports enjoyed a resilient 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 approx. 94% of total exports in 2021. The United Arab Emirates (X tons) and Bahrain (X tons) held a relatively small share of total exports.

Turkey was also the fastest-growing in terms of the fresh or chilled fish fillets exports, with a CAGR of +12.9% from 2012 to 2021. At the same time, the United Arab Emirates (+1.4%) displayed positive paces of growth. Bahrain experienced a relatively flat trend pattern. While the share of Turkey (+15 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Bahrain (-2.1 p.p.) and the United Arab Emirates (-3.4 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest fresh fish fillet supplier in MENA, comprising 97% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 1.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey totaled +12.7%. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+7.8% per year) and Bahrain (-2.3% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, rising by 20% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, 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 the United Arab Emirates (+6.2%), while the other leaders experienced a decline in the export price figures.

Fresh Fish Fillet Imports

Imports in MENA

In 2021, after three years of decline, there was significant growth in purchases abroad of fresh or chilled fish fillets, when their volume increased by 29% to X tons. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by 43%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, fresh fish fillet imports soared to $X in 2021. In general, imports enjoyed strong growth. The pace of growth was the most pronounced in 2016 with an increase of 38%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in years to come.

Imports by Country

Israel prevails in imports structure, reaching X tons, which was near 77% of total imports in 2021. The following importers - Egypt (X tons), Qatar (X tons), Turkey (X tons), the United Arab Emirates (X tons), Kuwait (X tons) and Iraq (X tons) - together made up 18% of total imports.

Israel was also the fastest-growing in terms of the fresh or chilled fish fillets imports, with a CAGR of +75.3% from 2012 to 2021. At the same time, Iraq (+41.5%), Egypt (+7.8%), Turkey (+7.3%) and Qatar (+2.7%) displayed positive paces of growth. By contrast, Kuwait (-4.6%) and the United Arab Emirates (-6.9%) illustrated a downward trend over the same period. Israel (+77 p.p.), Egypt (+2.2 p.p.), Turkey (+1.5 p.p.) and Iraq (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -2.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported fresh or chilled fish fillets in MENA, comprising 90% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 2.7% share of total imports. It was followed by Turkey, with a 1.6% share.

In Israel, fresh fish fillet imports increased at an average annual rate of +88.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-4.1% per year) and Turkey (+10.2% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, increasing by 5% against the previous year. Over the period under review, the import price saw a resilient increase. The pace of growth was the most pronounced in 2018 an increase of 43% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Egypt ($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 (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform