GCC: Frozen Fish Market 2024

Frozen Fish Market Size in GCC

The GCC frozen fish market was estimated at $X in 2022, surging by X% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Frozen Fish Production in GCC

In value terms, frozen fish production rose modestly to $X in 2022 estimated in export price. In general, production posted tangible growth. The growth pace was the most rapid in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Frozen Fish Exports

Exports in GCC

In 2022, exports of frozen fish in GCC declined to X tons, with a decrease of X% compared with 2021. Over the period under review, exports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2018 when exports increased by X%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen fish exports reached $X in 2022. Overall, exports, however, posted prominent growth. The growth pace was the most rapid in 2018 when exports increased by X%. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Oman prevails in exports structure, accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), achieving a X% share of total exports. Saudi Arabia (X tons) followed a long way behind the leaders.

Oman was also the fastest-growing in terms of the frozen fish exports, with a CAGR of X% from 2012 to 2022. Saudi Arabia and the United Arab Emirates experienced a relatively flat trend pattern. From 2012 to 2022, the share of Oman increased by X percentage points.

In value terms, Oman ($X) remains the largest frozen fish supplier in GCC, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

In Oman, frozen fish exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2016 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2017 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 the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced a decline in the export price figures.

Frozen Fish Imports

Imports in GCC

In 2022, approx. X tons of frozen fish were imported in GCC; dropping by X% on the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The volume of import peaked at X tons in 2021, and then contracted in the following year.

In value terms, frozen fish imports shrank to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by X%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) represented roughly X% of total imports in 2022. It was distantly followed by Oman (X tons) and Kuwait (X tons), together achieving a X% share of total imports. The following importers - Qatar (X tons) and Bahrain (X tons) - each amounted to an X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Qatar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), with a combined X% share of total imports. Kuwait, Qatar and Bahrain lagged somewhat behind, together comprising a further X%.

Qatar, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the import price in GCC amounted to $X per ton, approximately mirroring the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Oman ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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