Middle East: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in the Middle East

The Middle Eastern inedible fish products market dropped to $X in 2022, waning by -5.4% against the previous year. In general, consumption, however, saw a noticeable increase. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Inedible Fish Products Production in the Middle East

In value terms, inedible fish products production shrank to $X in 2022 estimated in export price. In general, production, however, continues to indicate noticeable growth. The pace of growth appeared the most rapid in 2014 with an increase of 52%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Inedible Fish Products Exports

Exports in the Middle East

In 2022, shipments abroad of inedible fish products increased by 6.1% to X tons, rising for the third year in a row after two years of decline. In general, exports showed significant growth. The pace of growth was the most pronounced in 2016 with an increase of 289%. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, inedible fish products exports totaled $X in 2022. Overall, exports enjoyed a significant expansion. The growth pace was the most rapid in 2020 when exports increased by 254%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

Yemen represented the main exporting country with an export of around X tons, which amounted to 75% of total exports. It was distantly followed by Oman (X tons), constituting a 24% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to inedible fish products exports from Yemen stood at +21.3%. At the same time, Oman (+44.5%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +44.5% from 2012-2022. From 2012 to 2022, the share of Oman increased by +19 percentage points.

In value terms, Oman ($X) remains the largest inedible fish products supplier in the Middle East, comprising 64% of total exports. The second position in the ranking was taken by Yemen ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Oman totaled +57.3%.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, surging by 3.8% against the previous year. Over the period under review, the export price, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2020 when the export price increased by 52%. As a result, the export price reached the peak level of $X per ton. 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 stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+8.9%).

Inedible Fish Products Imports

Imports in the Middle East

In 2022, purchases abroad of inedible fish products was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports posted a resilient increase. The growth pace was the most rapid in 2016 with an increase of 109% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, inedible fish products imports skyrocketed to $X in 2022. In general, imports showed a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 38% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

Oman (X tons) and Turkey (X tons) represented the main importers of inedible fish products in 2022, recording near 35% and 27% of total imports, respectively. The United Arab Emirates (X tons) held the next position in the ranking, distantly followed by Israel (X tons) and Iran (X tons). All these countries together held near 36% 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 ($X) constitutes the largest market for imported inedible fish products in the Middle East, comprising 80% of total imports. The second position in the ranking was held by Iran ($X), with a 13% share of total imports. It was followed by the United Arab Emirates, with a 2.4% share.

In Turkey, inedible fish products imports increased at an average annual rate of +13.5% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Iran (+1.2% per year) and the United Arab Emirates (+10.1% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, picking up by 11% against the previous year. Over the period under review, the import price recorded slight growth. The pace of growth was the most pronounced in 2021 when the import price increased by 61% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: 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 Iran (+5.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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