Middle East: Frozen Fish Market 2024

Frozen Fish Market Size in the Middle East

The Middle Eastern frozen fish market expanded markedly to $X in 2022, with an increase of X% against the previous year. 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 throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Frozen Fish Production in the Middle East

In value terms, frozen fish production dropped dramatically to $X in 2022 estimated in export price. In general, production, however, recorded significant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Frozen Fish Exports

Exports in the Middle East

For the third consecutive year, the Middle East recorded growth in overseas shipments of frozen fish, which increased by X% to X tons in 2022. In general, exports posted a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The volume of export peaked in 2022 and is likely to continue growth in the near future.

In value terms, frozen fish exports skyrocketed to $X in 2022. Overall, exports recorded resilient growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Exports by Country

Oman was the major exporting country with an export of about X tons, which finished at X% of total exports. It was distantly followed by Turkey (X tons), Yemen (X tons) and Iran (X tons), together making up a X% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

Exports from Oman increased at an average annual rate of X% from 2012 to 2022. At the same time, Iran (X%) and Turkey (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Yemen and the United Arab Emirates experienced a relatively flat trend pattern. While the share of Oman (X p.p.), Iran (X p.p.) and Turkey (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) and Yemen (X p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest frozen fish supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Oman ($X), with a X% share of total exports. It was followed by Yemen, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (X% per year) and Yemen (X% per year).

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 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 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 the Middle East

In 2022, imports of frozen fish in the Middle East declined slightly to X tons, reducing by X% against the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish imports rose significantly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; 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 X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

The purchases of the four major importers of frozen fish, namely Turkey, the United Arab Emirates, Saudi Arabia and Israel, represented more than two-thirds of total import. The following importers - Iran (X tons), Kuwait (X tons), Jordan (X tons), Oman (X tons), Qatar (X tons), Bahrain (X tons) and Iraq (X tons) - together made up X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iraq (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X) constitutes the largest market for imported frozen fish in the Middle East, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($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 Israel stood at X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Turkey (X% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Israel ($X per ton), while Turkey ($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 more modest paces of growth.

Source: IndexBox Platform

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