Oman: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in Oman

The Omani frozen fish fillet market reduced remarkably to $X in 2022, with a decrease of -89.7% against the previous year. Over the period under review, consumption recorded a dramatic downturn. Frozen fish fillet consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Frozen Fish Fillet Production in Oman

In value terms, frozen fish fillet production stood at less than $X in 2022 estimated in export price. Overall, production saw a relatively flat trend pattern.

Frozen Fish Fillet Exports

Exports from Oman

For the third consecutive year, Oman recorded growth in overseas shipments of frozen fish fillet, which increased by 44% to X tons in 2022. Overall, exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2018 when exports increased by 432%. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, frozen fish fillet exports skyrocketed to $X in 2022. In general, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2018 with an increase of 269% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for frozen fish fillet exports from Oman, accounting for a 49% share of total exports. Moreover, frozen fish fillet exports to the United States exceeded the volume sent to the second major destination, Vietnam (X tons), fourfold. The third position in this ranking was taken by the United Arab Emirates (X tons), with an 8.8% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +65.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+11.5% per year) and the United Arab Emirates (-1.7% per year).

In value terms, the United States ($X) emerged as the key foreign market for frozen fish fillet exports from Oman, comprising 56% of total exports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total exports. It was followed by Slovenia, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +46.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+2.7% per year) and Slovenia (+24.1% per year).

Export Prices by Country

The average frozen fish fillet export price stood at $X per ton in 2022, picking up by 79% against the previous year. In general, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Rwanda ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+24.5%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Fillet Imports

Imports into Oman

In 2022, frozen fish fillet imports into Oman dropped sharply to X tons, falling by -70.5% on 2021 figures. In general, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 67%. Imports peaked at X tons in 2021, and then dropped notably in the following year.

In value terms, frozen fish fillet imports contracted rapidly to $X in 2022. Overall, imports continue to indicate a perceptible descent. The pace of growth appeared the most rapid in 2018 with an increase of 77%. Over the period under review, imports attained the maximum at $X in 2021, and then reduced markedly in the following year.

Imports by Country

Vietnam (X tons), the United Arab Emirates (X tons) and India (X tons) were the main suppliers of frozen fish fillet imports to Oman, together accounting for 76% of total imports. Tanzania, the United States, Singapore and Thailand lagged somewhat behind, together comprising a further 7.3%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +58.7%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of frozen fish fillet to Oman, comprising 46% of total imports. The second position in the ranking was taken by Vietnam ($X), with a 22% share of total imports. It was followed by the United States, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates stood at +11.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-11.6% per year) and the United States (+57.1% per year).

Import Prices by Country

The average frozen fish fillet import price stood at $X per ton in 2022, growing by 79% against the previous year. Overall, the import price enjoyed a buoyant expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($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 (+17.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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