Middle East: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in the Middle East

The Middle Eastern frozen crustaceans market reduced to $X in 2023, approximately equating the previous year. The total consumption indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. 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. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Frozen Crustaceans Production in the Middle East

In value terms, frozen crustaceans production totaled $X in 2023 estimated in export price. In general, production continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Frozen Crustaceans Exports

Exports in the Middle East

In 2023, shipments abroad of frozen crustaceans decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. In general, exports, however, saw a strong increase. 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 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, frozen crustaceans exports shrank to $X in 2023. Over the period under review, exports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

Iran (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) represented roughly X% of total exports in 2023. It was distantly followed by Bahrain (X tons), making up a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Iran (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Iran ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Iran, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, reducing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2016 when the export price increased by X%. The level of export peaked at $X per ton in 2020; however, from 2021 to 2023, the export prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Frozen Crustaceans Imports

Imports in the Middle East

In 2023, imports of frozen crustaceans in the Middle East dropped to X tons, shrinking by X% against the previous year. Total imports indicated a mild expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. 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 most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, frozen crustaceans imports expanded sharply to $X in 2023. Total imports indicated a pronounced expansion 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 2018 indices. The growth pace was the most rapid in 2014 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the main importer of frozen crustaceans in the Middle East, with the volume of imports recording X tons, which was near X% of total imports in 2023. Kuwait (X tons) ranks second in terms of the total imports with a X% share, followed by Turkey (X%), Qatar (X%), Saudi Arabia (X%) and Oman (X%). Israel (X tons) held a minor share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Turkey (X%), Kuwait (X%), Israel (X%), Qatar (X%) and Oman (X%) displayed positive paces of growth. Moreover, Turkey emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Kuwait, Turkey, the United Arab Emirates, Qatar and Israel increased by X, X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported frozen crustaceans in the Middle East, comprising X% of total imports. The second position in the ranking was held by Kuwait ($X), with an X% share of total imports. It was followed by Turkey, with an X% share.

In the United Arab Emirates, frozen crustaceans imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Kuwait (X% per year) and Turkey (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, increasing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, 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 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform