MENA: Frozen Cuttlefishes Market 2024

Frozen Cuttlefishes Market Size in MENA

The MENA's frozen cuttlefishes market shrank to $X in 2022, with a decrease of X% against the previous year. In general, consumption saw a buoyant expansion. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Frozen Cuttlefishes Production in MENA

In value terms, frozen cuttlefishes production contracted to $X in 2022 estimated in export price. The total production indicated a temperate 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 pace of growth was the most pronounced in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Frozen Cuttlefishes Exports

Exports in MENA

In 2022, overseas shipments of frozen cuttlefishes were finally on the rise to reach X tons after five years of decline. In general, exports, however, recorded a sharp decline. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, frozen cuttlefishes exports rose rapidly to $X in 2022. Over the period under review, exports, however, recorded a sharp decrease. The pace of growth was the most pronounced in 2016 when exports increased by X%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Saudi Arabia (X tons), Oman (X tons), Yemen (X tons), Iran (X tons), the United Arab Emirates (X tons) and Morocco (X tons), together resulting at X% of total export. It was distantly followed by Turkey (X tons), constituting a X% 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, Morocco ($X), Oman ($X) and Iran ($X) were the countries with the highest levels of exports in 2022, together comprising X% of total exports. Saudi Arabia, Yemen, the United Arab Emirates and Turkey lagged somewhat behind, together accounting for a further X%.

Saudi Arabia, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, therefore, remained relatively stable against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Morocco ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Frozen Cuttlefishes Imports

Imports in MENA

In 2022, purchases abroad of frozen cuttlefishes increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, recorded a drastic downturn. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, frozen cuttlefishes imports skyrocketed to $X in 2022. In general, imports, however, showed a deep slump. The level of import peaked 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. It was distantly followed by Egypt (X tons), constituting a X% share of total imports. 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%) and Egypt (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. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In the United Arab Emirates, frozen cuttlefishes imports decreased by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Egypt (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, declining by X% against the previous year. Overall, the import price continues to indicate a mild downturn. The pace of growth appeared the most rapid in 2017 an increase of X%. Over the period under review, import prices attained the maximum at $X per ton in 2021, and then contracted rapidly in the following year.

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 Egypt ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :