Saudi Arabia: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Saudi Arabia

The Saudi frozen fish and seafood market rose sharply to $X in 2022, growing by X% against the previous year. In general, consumption recorded resilient growth. Frozen fish and seafood consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Frozen Fish And Seafood in Saudi Arabia

In value terms, frozen fish and seafood production expanded slightly to $X in 2022 estimated in export price. Overall, production posted a strong expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Frozen fish and seafood production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Frozen Fish And Seafood

Exports from Saudi Arabia

Frozen fish and seafood exports from Saudi Arabia fell to X tons in 2022, with a decrease of X% compared with the previous year's figure. Overall, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen fish and seafood exports shrank slightly to $X in 2022. In general, exports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bahrain (X tons) was the main destination for frozen fish and seafood exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, frozen fish and seafood exports to Bahrain exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), sixfold. The third position in this ranking was taken by Egypt (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Bahrain amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Egypt (X% per year).

In value terms, Bahrain ($X) remains the key foreign market for frozen fish and seafood exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by Egypt ($X), with a X% share of total exports. It was followed by Australia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Bahrain totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (X% per year) and Australia (X% per year).

Export Prices by Country

In 2022, the average frozen fish and seafood export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price, however, showed a perceptible descent. The growth pace was the most rapid in 2016 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to the United Arab Emirates ($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 South Korea (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Frozen Fish And Seafood

Imports into Saudi Arabia

In 2022, supplies from abroad of frozen fish and seafood was finally on the rise to reach X tons after four years of decline. In general, imports, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, frozen fish and seafood imports expanded significantly to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Bahrain (X tons) constituted the largest supplier of frozen fish and seafood to Saudi Arabia, accounting for a X% share of total imports. Moreover, frozen fish and seafood imports from Bahrain exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The United Arab Emirates (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Bahrain amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the United Arab Emirates (X% per year).

In value terms, Bahrain ($X) constituted the largest supplier of frozen fish and seafood to Saudi Arabia, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Bahrain stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The average frozen fish and seafood import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price showed slight growth. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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