Middle East: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in the Middle East

In 2021, after three years of decline, there was significant growth in the Middle Eastern frozen whole fish market, when its value increased by 21% to $X. The market value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Frozen Whole Fish Production in the Middle East

In value terms, frozen whole fish production soared to $X in 2021 estimated in export price. Overall, production showed significant growth. The pace of growth was the most pronounced in 2018 with an increase of 101%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Frozen Whole Fish Exports

Exports in the Middle East

In 2021, the amount of frozen whole fish exported in the Middle East rose slightly to X tons, increasing by 2.4% compared with the year before. Over the period under review, exports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2018 when exports increased by 140%. The volume of export peaked in 2021 and is likely to continue growth in the near future.

In value terms, frozen whole fish exports surged to $X in 2021. In general, exports posted a resilient increase. The pace of growth appeared the most rapid in 2018 when exports increased by 88%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

Exports by Country

In 2021, Oman (X tons) represented the main exporter of frozen whole fish, creating 65% of total exports. Turkey (X tons) took the second position in the ranking, distantly followed by Iran (X tons) and Yemen (X tons). All these countries together held near 31% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

Oman was also the fastest-growing in terms of the frozen whole fish exports, with a CAGR of +27.6% from 2012 to 2021. At the same time, Iran (+26.3%) and Turkey (+13.7%) displayed positive paces of growth. The United Arab Emirates experienced a relatively flat trend pattern. By contrast, Yemen (-7.9%) illustrated a downward trend over the same period. Oman (+43 p.p.) and Iran (+5.5 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates and Yemen saw its share reduced by -7.5% and -31.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen whole fish supplying countries in the Middle East were Turkey ($X), Oman ($X) and Iran ($X), with a combined 89% share of total exports.

In terms of the main exporting countries, Iran, with a CAGR of +29.3%, saw 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 the Middle East stood at $X per ton in 2021, growing by 18% against the previous year. Overall, the export price, however, continues to indicate a slight slump. The pace of growth appeared the most rapid in 2019 an increase of 19%. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 the Middle East

In 2021, frozen whole fish imports in the Middle East skyrocketed to X tons, surging by 29% against the previous year's figure. The total import volume increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, frozen whole fish imports skyrocketed to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Turkey (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons) represented roughly 69% of total imports in 2021. Jordan (X tons) held a 5.8% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (5.3%) and Kuwait (5%). Bahrain (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Qatar (with a CAGR of +22.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen whole fish importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), together comprising 63% of total imports. Jordan, Kuwait, Qatar and Bahrain lagged somewhat behind, together comprising a further 23%.

In terms of the main importing countries, Qatar, with a CAGR of +20.0%, 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 the Middle East stood at $X per ton in 2021, falling by -5.9% against the previous year. Overall, the import price recorded a noticeable setback. The most prominent rate of growth was recorded in 2016 an increase of 4.9% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Jordan ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+2.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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