Kuwait: Market for Frozen, Dried And Smoked Fish 2024

Market Size for Frozen, Dried And Smoked Fish in Kuwait

The Kuwaiti market for frozen, dried and smoked fish expanded modestly to $X in 2023, rising by X% 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). Over the period under review, the total consumption indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market reached the peak level at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Exports of Frozen, Dried And Smoked Fish

Exports from Kuwait

In 2023, after two years of growth, there was significant decline in overseas shipments of frozen, dried and smoked fish, when their volume decreased by X% to X tons. Overall, exports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen, dried and smoked fish exports declined significantly to $X in 2023. Over the period under review, exports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X tons) was the main destination for frozen, dried and smoked fish exports from Kuwait, accounting for a X% share of total exports. Moreover, frozen, dried and smoked fish exports to Qatar exceeded the volume sent to the second major destination, Bahrain (X tons), sevenfold. Saudi Arabia (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Qatar stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (X% per year) and Saudi Arabia (X% per year).

In value terms, Qatar ($X) remains the key foreign market for frozen, dried and smoked fish exports from Kuwait, comprising X% of total exports. The second position in the ranking was held by Bahrain ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Qatar stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2023, the average export price for frozen, dried and smoked fish amounted to $X per ton, remaining relatively unchanged against the previous year. In general, the export price, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2022, and then reduced slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Iraq ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced more modest paces of growth.

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Imports of Frozen, Dried And Smoked Fish

Imports into Kuwait

In 2023, purchases abroad of frozen, dried and smoked fish decreased by X% to X tons, falling for the second year in a row after two years of growth. In general, imports saw a noticeable decline. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2023, imports failed to regain momentum.

In value terms, frozen, dried and smoked fish imports reached $X in 2023. Over the period under review, total imports indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. Imports peaked at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

India (X tons), Myanmar (X tons) and the United Arab Emirates (X tons) were the main suppliers of frozen, dried and smoked fish imports to Kuwait, together accounting for X% of total imports.

From 2012 to 2023, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, India ($X) constituted the largest supplier of frozen, dried and smoked fish to Kuwait, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an X% share of total imports. It was followed by Pakistan, with a X% share.

From 2012 to 2023, the average annual growth rate of value from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Pakistan (X% per year).

Import Prices by Country

The average import price for frozen, dried and smoked fish stood at $X per ton in 2023, growing by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, average import prices hit record highs in 2023 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform