MENA: Frozen Fish Market 2024

Frozen Fish Market Size in MENA

The MENA's frozen fish market amounted to $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Frozen Fish Production in MENA

In value terms, frozen fish production reduced rapidly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Frozen Fish Exports

Exports in MENA

In 2022, approx. X tons of frozen fish were exported in MENA; increasing by X% against the previous year. Overall, exports showed a resilient expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, frozen fish exports surged to $X in 2022. In general, exports recorded a strong expansion. The growth pace was the most rapid in 2018 with an increase of X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Morocco represented the main exporting country with an export of around X tons, which accounted for X% of total exports. Oman (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Turkey (X%) and Yemen (X%). Iran (X tons) and the United Arab Emirates (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 Iran (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish supplying countries in MENA were Turkey ($X), Morocco ($X) and Oman ($X), together comprising X% of total exports. Yemen, Iran and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Iran, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export 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 exporting countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Yemen (X%), while the other leaders experienced more modest paces of growth.

Frozen Fish Imports

Imports in MENA

Frozen fish imports contracted slightly to X tons in 2022, with a decrease of X% on 2021. Total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, frozen fish imports stood at $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Egypt represented the major importer of frozen fish in MENA, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. It was distantly followed by Turkey (X tons), the United Arab Emirates (X tons), Saudi Arabia (X tons), Tunisia (X tons), Israel (X tons) and Morocco (X tons), together comprising a X% share of total imports. Iran (X tons) held a little share of total imports.

Egypt experienced a relatively flat trend pattern with regard to volume of imports of frozen fish. At the same time, Morocco (X%), Tunisia (X%), Turkey (X%), the United Arab Emirates (X%) and Israel (X%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. Saudi Arabia experienced a relatively flat trend pattern. By contrast, Iran (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Tunisia, Morocco and the United Arab Emirates increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen fish importing markets in MENA were Israel ($X), Egypt ($X) and the United Arab Emirates ($X), with a combined X% share of total imports. Turkey, Saudi Arabia, Tunisia, Morocco and Iran lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Morocco, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of X%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform