Middle East's Frozen Fish Meat Market to Reach 21K Tons and $77M by 2035

IndexBox has just published a new report: Middle East - Frozen Fish Meat - Market Analysis, Forecast, Size, Trends and Insights.

The Middle East frozen fish meat market is forecast to grow to 21K tons ($77M) by 2035, driven by demand. 2024 saw consumption surge to 20K tons ($69M), led by Israel, Bahrain, and Palestine. Regional production was 11K tons, while imports reached 9.8K tons, dominated by Bahrain and Palestine. Exports fell sharply to 796 tons. Bahrain leads in per capita consumption, while Qatar shows the highest value growth.

Key Findings

• Market forecast to reach 21K tons and $77M by 2035 following recent consumption surge
• Israel, Bahrain, and Palestine are the largest consuming countries by volume
• Bahrain has the highest per capita consumption and fastest import growth rate
• Regional production (11K tons) is insufficient to meet demand, driving significant imports
• Export volumes collapsed by 90% in 2024, with the UAE remaining the leading exporter

Market Forecast

Driven by increasing demand for frozen fish meat in the Middle East, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.6% for the period from 2024 to 2035, which is projected to bring the market volume to 21K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.0% for the period from 2024 to 2035, which is projected to bring the market value to $77M (in nominal wholesale prices) by the end of 2035.

Consumption

Middle East's Consumption of Frozen Fish Meat

In 2024, approx. 20K tons of frozen fish meat were consumed in the Middle East; picking up by 64% on 2023 figures. In general, consumption continues to indicate moderate growth. Over the period under review, consumption hit record highs at 38K tons in 2015; however, from 2016 to 2024, consumption failed to regain momentum.

The value of the frozen fish meat market in the Middle East skyrocketed to $69M in 2024, jumping by 74% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The total consumption indicated a remarkable increase from 2013 to 2024: its value increased at an average annual rate of +5.3% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $80M in 2019; however, from 2020 to 2024, consumption failed to regain momentum.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were Israel (4.5K tons), Bahrain (4.3K tons) and Palestine (3.4K tons), together accounting for 61% of total consumption.

From 2013 to 2024, the biggest increases were recorded for Bahrain (with a CAGR of +13.3%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, Qatar ($13M), Israel ($13M) and Palestine ($12M) constituted the countries with the highest levels of market value in 2024, with a combined 53% share of the total market.

In terms of the main consuming countries, Qatar, with a CAGR of +22.8%, saw the highest rates of growth with regard to market size over the period under review, while market for the other leaders experienced more modest paces of growth.

In 2024, the highest levels of frozen fish meat per capita consumption was registered in Bahrain (2,350 kg per 1000 persons), followed by Palestine (606 kg per 1000 persons), Oman (492 kg per 1000 persons) and Israel (457 kg per 1000 persons), while the world average per capita consumption of frozen fish meat was estimated at 54 kg per 1000 persons.

In Bahrain, frozen fish meat per capita consumption expanded at an average annual rate of +9.9% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Palestine (+7.1% per year) and Oman (-0.0% per year).

Production

Middle East's Production of Frozen Fish Meat

In 2024, production of frozen fish meat increased by 1.5% to 11K tons, rising for the second year in a row after four years of decline. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 56%. As a result, production reached the peak volume of 16K tons. From 2019 to 2024, production growth remained at a somewhat lower figure.

In value terms, frozen fish meat production contracted modestly to $31M in 2024 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 58% against the previous year. As a result, production reached the peak level of $40M. From 2019 to 2024, production growth remained at a somewhat lower figure.

Production By Country

The countries with the highest volumes of production in 2024 were Israel (4.1K tons), Saudi Arabia (3.4K tons) and Oman (2.7K tons), with a combined 93% share of total production.

From 2013 to 2024, the biggest increases were recorded for Oman (with a CAGR of +3.3%), while production for the other leaders experienced more modest paces of growth.

Imports

Middle East's Imports of Frozen Fish Meat

In 2024, approx. 9.8K tons of frozen fish meat were imported in the Middle East; increasing by 6.7% compared with 2023. In general, imports saw pronounced growth. The growth pace was the most rapid in 2014 with an increase of 116%. The volume of import peaked at 33K tons in 2016; however, from 2017 to 2024, imports stood at a somewhat lower figure.

In value terms, frozen fish meat imports dropped to $29M in 2024. Over the period under review, imports continue to indicate measured growth. The most prominent rate of growth was recorded in 2015 when imports increased by 105% against the previous year. As a result, imports attained the peak of $73M. From 2016 to 2024, the growth of imports remained at a lower figure.

Imports By Country

Bahrain (4.4K tons) and Palestine (3.4K tons) prevails in imports structure, together constituting 80% of total imports. It was distantly followed by Turkey (536 tons) and Qatar (458 tons), together mixing up a 10% share of total imports. Israel (380 tons), the United Arab Emirates (229 tons) and Lebanon (154 tons) followed a long way behind the leaders.

From 2013 to 2024, the biggest increases were recorded for Bahrain (with a CAGR of +39.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish meat importing markets in the Middle East were Palestine ($12M), Bahrain ($11M) and Qatar ($2M), with a combined 84% share of total imports.

Bahrain, with a CAGR of +37.5%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices By Country

In 2024, the import price in the Middle East amounted to $3,019 per ton, declining by -11.3% against the previous year. Import price indicated a slight expansion from 2013 to 2024: its price increased at an average annual rate of +1.4% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, frozen fish meat import price increased by +38.8% against 2019 indices. The most prominent rate of growth was recorded in 2023 an increase of 31% against the previous year. As a result, import price attained the peak level of $3,404 per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Qatar ($4,428 per ton), while Turkey ($2,279 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Qatar (+7.4%), while the other leaders experienced more modest paces of growth.

Exports

Middle East's Exports of Frozen Fish Meat

In 2024, shipments abroad of frozen fish meat decreased by -89.8% to 796 tons, falling for the second year in a row after two years of growth. Overall, exports faced a abrupt curtailment. The growth pace was the most rapid in 2015 with an increase of 89%. Over the period under review, the exports attained the maximum at 13K tons in 2018; however, from 2019 to 2024, the exports failed to regain momentum.

In value terms, frozen fish meat exports contracted sharply to $2.3M in 2024. Over the period under review, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 28%. The level of export peaked at $26M in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

Exports By Country

The United Arab Emirates was the main exporting country with an export of around 368 tons, which resulted at 46% of total exports. Turkey (163 tons) held the second position in the ranking, followed by Yemen (140 tons) and Bahrain (44 tons). All these countries together held approx. 44% share of total exports. The following exporters - Oman (27 tons), Jordan (23 tons) and Iran (14 tons) - together made up 7.9% of total exports.

From 2013 to 2024, average annual rates of growth with regard to frozen fish meat exports from the United Arab Emirates stood at -11.8%. At the same time, Jordan (+24.0%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +24.0% from 2013-2024. Yemen and Iran experienced a relatively flat trend pattern. By contrast, Turkey (-9.4%), Bahrain (-12.4%) and Oman (-18.3%) illustrated a downward trend over the same period. From 2013 to 2024, the share of Yemen, Jordan and Turkey increased by +12, +2.8 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($989K), Turkey ($662K) and Yemen ($211K) were the countries with the highest levels of exports in 2024, together accounting for 81% of total exports. Bahrain, Oman, Jordan and Iran lagged somewhat behind, together accounting for a further 16%.

Among the main exporting countries, Jordan, with a CAGR of +16.4%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices By Country

In 2024, the export price in the Middle East amounted to $2,878 per ton, reducing by -12.3% against the previous year. In general, the export price saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2023 when the export price increased by 18% against the previous year. The level of export peaked at $4,011 per ton in 2014; however, from 2015 to 2024, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Bahrain ($4,219 per ton), while Yemen ($1,507 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Bahrain (+6.2%), while the other leaders experienced more modest paces of growth.