GCC: Preserved Herring Market 2024

Preserved Herring Market Size in GCC

The GCC preserved herring market stood at $X in 2022, growing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Preserved Herring Production in GCC

In value terms, preserved herring production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Preserved Herring Exports

Exports in GCC

In 2022, approx. X kg of herrings (prepared or preserved) were exported in GCC; growing by X% against 2021. In general, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, preserved herring exports reduced sharply to $X in 2022. Over the period under review, exports, however, showed a sharp decrease. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from the United Arab Emirates (X kg), together finishing at X% of total export.

The United Arab Emirates was also the fastest-growing in terms of the herrings (prepared or preserved) exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest preserved herring supplier in GCC.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, declining by X% against the previous year. Overall, the export price showed a perceptible reduction. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then dropped remarkably in the following year.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Preserved Herring Imports

Imports in GCC

In 2022, after two years of decline, there was significant growth in supplies from abroad of herrings (prepared or preserved), when their volume increased by X% to X tons. Overall, imports, however, recorded a deep reduction. The pace of growth was the most pronounced in 2014 when imports increased by X%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, preserved herring imports shrank to $X in 2022. Over the period under review, imports, however, saw a deep slump. The growth pace was the most rapid in 2014 with an increase of X%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates prevails in imports structure, accounting for X tons, which was approx. X% of total imports in 2022. It was distantly followed by Bahrain (X tons) and Kuwait (X tons), together making up a X% share of total imports. Oman (X tons) and Qatar (X tons) held a relatively small share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Bahrain (X%), Kuwait (X%) and Oman (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. Qatar experienced a relatively flat trend pattern. From 2012 to 2022, the share of the United Arab Emirates, Kuwait, Bahrain, Oman and Qatar increased by X, X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported herrings (prepared or preserved) in GCC, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with an X% share of total imports. It was followed by Qatar, with a X% share.

In the United Arab Emirates, preserved herring imports declined by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Kuwait (X% per year) and Qatar (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the import price recorded a noticeable decrease. The growth pace was the most rapid in 2015 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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