MENA: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in MENA

The MENA's frozen whole fish market rose rapidly to $X in 2023, surging by X% against the previous year. In general, consumption, however, enjoyed a resilient increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Frozen Whole Fish Production in MENA

In value terms, frozen whole fish production expanded notably to $X in 2023 estimated in export price. In general, production saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of production peaked at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Frozen Whole Fish Exports

Exports in MENA

In 2023, the amount of frozen whole fish exported in MENA rose to X tons, picking up by X% on the year before. In general, exports posted a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, frozen whole fish exports totaled $X in 2023. Over the period under review, exports continue to indicate a strong increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2023 and are likely to see gradual growth in the immediate term.

Exports by Country

In 2023, Morocco (X tons) represented the largest exporter of frozen whole fish, committing X% of total exports. Oman (X tons) held the second position in the ranking, distantly followed by Turkey (X tons), Yemen (X tons) and Iran (X tons). All these countries together held approx. X% share of total exports. The United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Iran (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Morocco ($X) and Oman ($X) constituted the countries with the highest levels of exports in 2023, together comprising X% of total exports. Yemen, Iran and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

In terms of the main exporting countries, Iran, with a CAGR of X%, 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 MENA stood at $X per ton in 2023, dropping by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Morocco ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Frozen Whole Fish Imports

Imports in MENA

In 2023, overseas purchases of frozen whole fish were finally on the rise to reach X tons for the first time since 2017, thus ending a five-year declining trend. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen whole fish imports reached $X in 2023. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2023, imports remained at a lower figure.

Imports by Country

Egypt was the main importing country with an import of about X tons, which resulted at X% of total imports. Turkey (X tons) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%), Tunisia (X%), Morocco (X%) and Saudi Arabia (X%). Jordan (X tons), Iran (X tons) and Oman (X tons) followed a long way behind the leaders.

Egypt experienced a relatively flat trend pattern with regard to volume of imports of frozen whole fish. At the same time, Morocco (X%), Tunisia (X%), Turkey (X%), the United Arab Emirates (X%) and Jordan (X%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. Oman experienced a relatively flat trend pattern. By contrast, Saudi Arabia (X%) and Iran (X%) illustrated a downward trend over the same period. While the share of Turkey (X p.p.), Morocco (X p.p.), Tunisia (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Egypt (X p.p.), Saudi Arabia (X p.p.) and Iran (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Egypt ($X) constitutes the largest market for imported frozen whole fish in MENA, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with an X% share.

In Egypt, frozen whole fish imports remained relatively stable over the period from 2012-2023. In the other countries, the average annual rates were as follows: Turkey (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2023, leveling off at the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Jordan ($X per ton), while Tunisia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Jordan (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform