MENA: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in MENA

The MENA's frozen fish fillet market soared to $X in 2022, with an increase of 32% against the previous year. The total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.0% 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 +63.9% against 2020 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in the near future.

Frozen Fish Fillet Production in MENA

In value terms, frozen fish fillet production plummeted to $X in 2022 estimated in export price. Overall, production posted significant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 193%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Frozen Fish Fillet Exports

Exports in MENA

In 2022, shipments abroad of frozen fish fillet decreased by -30.4% to X tons, falling for the second year in a row after four years of growth. Over the period under review, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2015 when exports increased by 45%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen fish fillet exports totaled $X in 2022. In general, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2013 with an increase of 27%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Turkey prevails in exports structure, reaching X tons, which was approx. 74% of total exports in 2022. It was distantly followed by Morocco (X tons) and Libya (X tons), together committing a 13% share of total exports. Oman (X tons), the United Arab Emirates (X tons) and Algeria (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to frozen fish fillet exports from Turkey stood at +17.2%. At the same time, Algeria (+19.1%), Oman (+14.1%), Libya (+13.9%) and Morocco (+4.5%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing exporter exported in MENA, with a CAGR of +19.1% from 2012-2022. By contrast, the United Arab Emirates (-2.0%) illustrated a downward trend over the same period. Turkey (+41 p.p.), Morocco (+7.7 p.p.), Libya (+2 p.p.) and Oman (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -5.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest frozen fish fillet supplier in MENA, comprising 89% of total exports. The second position in the ranking was taken by Morocco ($X), with a 3.4% share of total exports. It was followed by Oman, with a 2.4% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +16.9%. In the other countries, the average annual rates were as follows: Morocco (+14.1% per year) and Oman (+14.7% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, increasing by 55% against the previous year. Export price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish fillet export price increased by +97.2% against 2020 indices. As a result, the export 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 exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Libya ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (+9.2%), while the other leaders experienced more modest paces of growth.

Frozen Fish Fillet Imports

Imports in MENA

In 2022, frozen fish fillet imports in MENA shrank modestly to X tons, leveling off at the previous year's figure. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 35%. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish fillet imports soared to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +48.5% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 40% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Israel represented the largest importing country with an import of about X tons, which amounted to 56% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 13% share, followed by Egypt (8.7%) and Turkey (5.1%). Qatar (X tons), Jordan (X tons), Kuwait (X tons), Algeria (X tons) and Morocco (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to frozen fish fillet imports into Israel stood at +5.9%. At the same time, Qatar (+18.9%) and the United Arab Emirates (+1.7%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in MENA, with a CAGR of +18.9% from 2012-2022. Morocco experienced a relatively flat trend pattern. By contrast, Turkey (-2.6%), Egypt (-3.4%), Kuwait (-3.4%), Jordan (-8.7%) and Algeria (-10.3%) illustrated a downward trend over the same period. Israel (+23 p.p.), Qatar (+3.5 p.p.), Morocco (+1.7 p.p.) and the United Arab Emirates (+1.6 p.p.) significantly strengthened its position in terms of the total imports, while Turkey, Jordan, Algeria and Egypt saw its share reduced by -1.8%, -3.4%, -3.5% and -4.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported frozen fish fillet in MENA, comprising 68% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 10% share of total imports. It was followed by Egypt, with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Israel totaled +11.1%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+0.9% per year) and Egypt (+4.0% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, jumping by 25% against the previous year. Import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish fillet import price increased by +86.0% against 2016 indices. 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 2022, amid the top importers, the country with the highest price was Israel ($X per ton), while Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform