MENA: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in MENA

In 2021, the MENA's frozen whole fish market decreased by -8.3% to $X, falling for the third year in a row after three years of growth. The total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -33.2% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Frozen Whole Fish Production in MENA

In value terms, frozen whole fish production surged to $X in 2021 estimated in export price. Overall, production, however, posted a significant increase. The growth pace was the most rapid in 2018 when the production volume increased by 96%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Frozen Whole Fish Exports

Exports in MENA

Frozen whole fish exports rose notably to X tons in 2021, increasing by 8% compared with 2020 figures. In general, exports recorded a prominent increase. The pace of growth appeared the most rapid in 2018 when exports increased by 51% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, frozen whole fish exports surged to $X in 2021. Over the period under review, exports showed a resilient expansion. The pace of growth was the most pronounced in 2018 when exports increased by 46%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Morocco (X tons) and Oman (X tons) dominates exports structure, together making up 82% of total exports. It was distantly followed by Turkey (X tons), committing an 8.3% share of total exports. Iran (X tons), Yemen (X tons) and the United Arab Emirates (X tons) took a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +27.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Morocco ($X), Turkey ($X) and Oman ($X) were the countries with the highest levels of exports in 2021, together comprising 86% of total exports. Iran, Yemen and the United Arab Emirates lagged somewhat behind, together comprising a further 13%.

Iran, with a CAGR of +29.3%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, growing by 12% against the previous year. Overall, the export price, however, saw a mild curtailment. Over the period under review, the export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Yemen (+6.7%), while the other leaders experienced more modest paces of growth.

Frozen Whole Fish Imports

Imports in MENA

In 2021, purchases abroad of frozen whole fish was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2014 when imports increased by 126%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, frozen whole fish imports reduced slightly to $X in 2021. The total import value increased at an average annual rate of +1.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when imports increased by 54% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Egypt represented the main importing country with an import of about X tons, which accounted for 34% of total imports. Turkey (X tons) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by Tunisia (12%), the United Arab Emirates (9.9%), Saudi Arabia (8.1%) and Morocco (5.2%). Jordan (X tons) took a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to frozen whole fish imports into Egypt stood at +11.5%. At the same time, Morocco (+25.6%), Tunisia (+14.1%), Turkey (+8.9%), the United Arab Emirates (+8.1%) and Jordan (+5.2%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing importer imported in MENA, with a CAGR of +25.6% from 2012-2021. Saudi Arabia experienced a relatively flat trend pattern. From 2012 to 2021, the share of Egypt, Tunisia, Morocco and Turkey increased by +11, +5.2, +4 and +2.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Egypt ($X) constitutes the largest market for imported frozen whole fish in MENA, comprising 36% of total imports. The second position in the ranking was held by Turkey ($X), with a 12% share of total imports. It was followed by the United Arab Emirates, with an 11% share.

In Egypt, frozen whole fish imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Turkey (+5.3% per year) and the United Arab Emirates (+5.7% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2021, waning by -4.8% against the previous year. In general, the import price recorded a deep contraction. The pace of growth was the most pronounced in 2015 an increase of 58% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Jordan (-0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform