MENA: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in MENA

The MENA's inedible fish products market reduced to $X in 2022, waning by -6.2% against the previous year. In general, consumption, however, continues to indicate a moderate expansion. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Inedible Fish Products Production in MENA

In value terms, inedible fish products production shrank to $X in 2022 estimated in export price. Overall, production, however, saw perceptible growth. The most prominent rate of growth was recorded in 2014 with an increase of 53% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Inedible Fish Products Exports

Exports in MENA

In 2022, overseas shipments of inedible fish products increased by 571% to X tons, rising for the fifth consecutive year after two years of decline. In general, 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, inedible fish products exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Morocco dominates exports structure, recording X tons, which was near 88% of total exports in 2022. It was distantly followed by Yemen (X tons), creating a 9.3% share of total exports. Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to inedible fish products exports from Morocco stood at +14.1%. At the same time, Oman (+44.5%) and Yemen (+21.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of +44.5% from 2012-2022. While the share of Yemen (+3.9 p.p.) and Oman (+2.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Morocco (-6.4 p.p.) displayed negative dynamics.

In value terms, Morocco ($X) remains the largest inedible fish products supplier in MENA, comprising 81% of total exports. The second position in the ranking was taken by Oman ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Morocco amounted to +13.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+57.3% per year) and Yemen (+9.0% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, dropping by -40.8% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 101%. Over the period under review, the export prices reached the peak figure at $X per ton in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 Oman ($X per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+8.9%), while the other leaders experienced a decline in the export price figures.

Inedible Fish Products Imports

Imports in MENA

In 2022, after three years of decline, there was significant growth in overseas purchases of inedible fish products, when their volume increased by 14% to X tons. In general, imports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 219% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, inedible fish products imports soared to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% 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 +66.1% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Oman (X tons) and Turkey (X tons) were the key importers of inedible fish products in 2022, finishing at approx. 32% and 25% of total imports, respectively. It was distantly followed by the United Arab Emirates (X tons), Israel (X tons) and Iran (X tons), together achieving a 33% share of total imports. Egypt (X tons) and Tunisia (X tons) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +21.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported inedible fish products in MENA, comprising 78% of total imports. The second position in the ranking was taken by Iran ($X), with a 13% share of total imports. It was followed by the United Arab Emirates, with a 2.3% share.

From 2012 to 2022, the average annual growth rate of value in Turkey totaled +13.5%. In the other countries, the average annual rates were as follows: Iran (+1.2% per year) and the United Arab Emirates (+10.1% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per ton, surging by 19% against the previous year. Overall, the import price continues to indicate significant growth. The growth pace was the most rapid in 2014 when the import price increased by 227% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

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 Turkey ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Tunisia (+29.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform