Saudi Arabia: Molluscs Market 2024

Molluscs Market Size in Saudi Arabia

In 2021, the Saudi molluscs market increased by 10% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Molluscs Production in Saudi Arabia

In value terms, molluscs production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 77% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Molluscs Exports

Exports from Saudi Arabia

For the third year in a row, Saudi Arabia recorded growth in shipments abroad of molluscs (scallops, mussels, cuttle fish, squid and octopus), which increased by 20% to X tons in 2021. Overall, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of 95% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, molluscs exports expanded remarkably to $X in 2021. Over the period under review, exports recorded a noticeable expansion. The most prominent rate of growth was recorded in 2017 with an increase of 88% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Egypt (X tons) was the main destination for molluscs exports from Saudi Arabia, with a 69% share of total exports. Moreover, molluscs exports to Egypt exceeded the volume sent to the second major destination, Vietnam (X tons), sevenfold. The third position in this ranking was held by China (X tons), with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume to Egypt totaled +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+7.2% per year) and China (0.0% per year).

In value terms, Egypt ($X) remains the key foreign market for molluscs (scallops, mussels, cuttle fish, squid and octopus) exports from Saudi Arabia, comprising 65% of total exports. The second position in the ranking was held by Vietnam ($X), with a 14% share of total exports. It was followed by China, with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Egypt totaled +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+4.0% per year) and China (0.0% per year).

Export Prices by Country

The average molluscs export price stood at $X per ton in 2021, dropping by -5.7% against the previous year. Overall, the export price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when the average export price increased by 24%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the countries with the highest prices were Vietnam ($X per ton) and Bahrain ($X per ton), while the average price for exports to Egypt ($X per ton) and Thailand ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (+82.5%), while the prices for the other major destinations experienced a decline.

Molluscs Imports

Imports into Saudi Arabia

In 2021, after six years of decline, there was significant growth in purchases abroad of molluscs (scallops, mussels, cuttle fish, squid and octopus), when their volume increased by 34% to X tons. In general, imports, however, showed a deep downturn. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, molluscs imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a abrupt downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), Chile (X tons) and Thailand (X tons) were the main suppliers of molluscs imports to Saudi Arabia, together comprising 44% of total imports. Taiwan (Chinese), Spain, India, New Zealand, Vietnam, China and the United Arab Emirates lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of +438.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest molluscs suppliers to Saudi Arabia were Thailand ($X), Taiwan (Chinese) ($X) and Spain ($X), together comprising 46% of total imports.

In terms of the main suppliers, Spain, with a CAGR of +235.4%, recorded the highest rates of growth with regard to 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 average molluscs import price stood at $X per ton in 2021, increasing by 32% against the previous year. Over the period under review, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, molluscs import price increased by +75.8% against 2019 indices. The pace of growth was the most pronounced in 2020 an increase of 33%. The import price peaked in 2021 and is likely to see steady growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (+20.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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