MENA: Frozen Norway Lobster Market 2024

Frozen Norway Lobster Market Size in MENA

In 2022, the MENA's frozen norway lobster market increased by 66% to $X, rising for the second year in a row after two years of decline. In general, consumption showed a prominent increase. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Frozen Norway Lobster Production in MENA

In value terms, frozen norway lobster production rose remarkably to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a buoyant increase. The growth pace was the most rapid in 2015 with an increase of 52% against the previous year. The level of production peaked in 2022 and is expected to retain growth in the near future.

Frozen Norway Lobster Exports

Exports in MENA

In 2022, exports of frozen norway lobsters in MENA totaled X tons, growing by 10% against the previous year's figure. Overall, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2018 with an increase of 107%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen norway lobster exports stood at $X in 2022. Over the period under review, exports saw a significant expansion. The growth pace was the most rapid in 2018 with an increase of 150%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Morocco represented the major exporter of frozen norway lobsters in MENA, with the volume of exports reaching X tons, which was approx. 49% of total exports in 2022. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Tunisia (X tons). All these countries together held approx. 46% share of total exports. Iran (X tons) and Algeria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by the United Arab Emirates (with a CAGR of +62.2%), while the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X) remains the largest frozen norway lobster supplier in MENA, comprising 69% of total exports. The second position in the ranking was taken by Tunisia ($X), with an 18% share of total exports. It was followed by the United Arab Emirates, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Morocco stood at +73.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Tunisia (+11.7% per year) and the United Arab Emirates (+37.9% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, with a decrease of -8.2% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 32% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, 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 Morocco ($X per ton), while Iran ($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 (+7.2%), while the other leaders experienced more modest paces of growth.

Frozen Norway Lobster Imports

Imports in MENA

In 2022, after three years of decline, there was significant growth in purchases abroad of frozen norway lobsters, when their volume increased by 115% to X tons. In general, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 278% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, frozen norway lobster imports soared to $X in 2022. Over the period under review, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2018 when imports increased by 221% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Morocco (X tons) represented the key importer of frozen norway lobsters, generating 70% of total imports. It was distantly followed by the United Arab Emirates (X tons) and Turkey (X tons), together comprising a 24% share of total imports. Israel (X tons) followed a long way behind the leaders.

Imports into Morocco increased at an average annual rate of +48.9% from 2012 to 2022. At the same time, Turkey (+59.2%), the United Arab Emirates (+17.6%) and Israel (+10.6%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in MENA, with a CAGR of +59.2% from 2012-2022. While the share of Morocco (+70 p.p.) and Turkey (+5.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Israel (-8.8 p.p.) and the United Arab Emirates (-14 p.p.) displayed negative dynamics.

In value terms, Morocco ($X), the United Arab Emirates ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2022, together accounting for 86% of total imports.

Turkey, with a CAGR of +63.9%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, declining by -29.1% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by 74% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined sharply in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per ton), while Morocco ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform