GCC: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in GCC

The GCC frozen cuttlefishes market soared to $X in 2022, growing by X% against the previous year. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Frozen Cuttlefishes Production in GCC

In value terms, frozen cuttlefishes production declined slightly to $X in 2022 estimated in export price. The total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Frozen Cuttlefishes Exports

Exports in GCC

In 2022, overseas shipments of frozen cuttlefishes increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports, however, recorded a precipitous setback. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, frozen cuttlefishes exports fell to $X in 2022. Over the period under review, exports, however, continue to indicate a dramatic decrease. The pace of growth was the most pronounced in 2015 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) and Oman (X tons) represented roughly X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), generating a X% share of total exports. Bahrain (X tons) took a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Saudi Arabia (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, Oman ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, Saudi Arabia, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the export price in GCC amounted to $X per ton, waning by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices failed to regain momentum.

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

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

Frozen Cuttlefishes Imports

Imports in GCC

After seven years of decline, purchases abroad of frozen cuttlefishes increased by X% to X tons in 2022. Overall, imports, however, showed a pronounced downturn. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, frozen cuttlefishes imports surged to $X in 2022. Over the period under review, imports, however, recorded a abrupt descent. Over the period under review, imports reached the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, finishing at X tons, which was near X% of total imports in 2022. Oman (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the frozen cuttlefishes imports, with a CAGR of X% from 2012 to 2022. Oman (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported frozen cuttlefishes in GCC, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with a X% share of total imports.

In the United Arab Emirates, frozen cuttlefishes imports declined by an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, waning by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2021, and then reduced remarkably in the following year.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%).

Source: IndexBox Platform

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