Middle East: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in the Middle East

In 2022, the Middle Eastern frozen crustaceans market decreased by X% to $X for the first time since 2016, thus ending a five-year rising trend. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then fell modestly in the following year.

Frozen Crustaceans Production in the Middle East

In value terms, frozen crustaceans production stood at $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value 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, production decreased by X% against 2018 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Frozen Crustaceans Exports

Exports in the Middle East

In 2022, shipments abroad of frozen crustaceans decreased by X% to X tons, falling for the fourth year in a row after seven years of growth. In general, exports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, frozen crustaceans exports reduced slightly to $X in 2022. Over the period under review, exports, however, posted a prominent increase. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons), Iran (X tons) and Bahrain (X tons) represented roughly X% of total exports in 2022. Turkey (X tons) took a relatively small share of total exports.

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 United Arab Emirates ($X), Saudi Arabia ($X) and Iran ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Bahrain and Turkey lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to 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 the Middle East stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

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 ($X per ton), while Bahrain ($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 (X%), while the other leaders experienced more modest paces of growth.

Frozen Crustaceans Imports

Imports in the Middle East

Frozen crustaceans imports reduced rapidly to X tons in 2022, which is down by X% on the previous year. Total imports indicated moderate 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 decreased by X% against 2018 indices. The pace of growth was the most pronounced in 2014 with an increase of X%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen crustaceans imports declined to $X in 2022. Total imports indicated a tangible increase from 2012 to 2022: its value 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 decreased by X% against 2018 indices. The pace of growth appeared the most rapid in 2014 when imports increased by X%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the largest importer of frozen crustaceans in the Middle East, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Saudi Arabia (X tons), Turkey (X tons), Kuwait (X tons), Qatar (X tons), Oman (X tons) and Israel (X tons), together achieving a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen crustaceans imports into the United Arab Emirates stood at X%. At the same time, Turkey (X%), Israel (X%), Qatar (X%), Oman (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.), Qatar (X p.p.), Oman (X p.p.), Israel (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported frozen crustaceans in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

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

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

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 Turkey (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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