Middle East: Market for Frozen Scallops, Including Queen Scallop 2023

Market Size for Frozen Scallops, Including Queen Scallop in the Middle East

The Middle Eastern market for frozen scallops, including queen scallop contracted to $X in 2021, reducing by -11.4% against the previous year. Overall, consumption saw a noticeable decline. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Production of Frozen Scallops, Including Queen Scallop in the Middle East

In value terms, frozen scallops, including queen scallop production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 34%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2021, production failed to regain momentum.

Exports of Frozen Scallops, Including Queen Scallop

Exports in the Middle East

In 2021, shipments abroad of frozen scallops, including queen scallop was finally on the rise to reach X tons after two years of decline. In general, exports, however, saw a perceptible contraction. The growth pace was the most rapid in 2016 when exports increased by 482% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen scallops, including queen scallop exports skyrocketed to $X in 2021. Overall, exports posted a slight expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 410%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates represented the major exporting country with an export of around X tons, which recorded 71% of total exports. It was distantly followed by Saudi Arabia (X tons), making up a 27% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the frozen scallops, including queen scallop exports, with a CAGR of -3.6% from 2012 to 2021. Saudi Arabia (-5.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates increased by +4 percentage points.

In value terms, the United Arab Emirates ($X) remains the largest frozen scallops, including queen scallop supplier in the Middle East, comprising 90% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 5.6% share of total exports.

In the United Arab Emirates, frozen scallops, including queen scallop exports expanded at an average annual rate of +3.8% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, with an increase of 105% against the previous year. Over the period under review, the export price posted a buoyant increase. The level of export peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

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 Saudi Arabia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.6%).

Imports of Frozen Scallops, Including Queen Scallop

Imports in the Middle East

For the third consecutive year, the Middle East recorded decline in purchases abroad of frozen scallops, including queen scallop, which decreased by -8.3% to X tons in 2021. In general, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2018 when imports increased by 28%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, frozen scallops, including queen scallop imports reached $X in 2021. Over the period under review, imports continue to indicate a perceptible curtailment. The pace of growth was the most pronounced in 2016 when imports increased by 25%. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the key importing country with an import of around X tons, which amounted to 63% of total imports. Israel (X tons) held the second position in the ranking, followed by Turkey (X tons). All these countries together took near 23% share of total imports. Iraq (X tons), Oman (X tons), Qatar (X tons) and Kuwait (X tons) held a little share of total imports.

Imports into the United Arab Emirates decreased at an average annual rate of -5.9% from 2012 to 2021. At the same time, Iraq (+41.2%), Oman (+5.6%) and Israel (+4.9%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +41.2% from 2012-2021. Turkey experienced a relatively flat trend pattern. By contrast, Kuwait (-16.5%) and Qatar (-17.4%) illustrated a downward trend over the same period. The United Arab Emirates (+21 p.p.), Israel (+11 p.p.), Turkey (+5.8 p.p.), Iraq (+3.8 p.p.) and Oman (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while Kuwait and Qatar saw its share reduced by -1.7% and -2.5% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported frozen scallops, including queen scallop in the Middle East, comprising 66% of total imports. The second position in the ranking was taken by Israel ($X), with a 16% share of total imports. It was followed by Iraq, with a 5.9% share.

In the United Arab Emirates, frozen scallops, including queen scallop imports plunged by an average annual rate of -1.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Israel (+0.1% per year) and Iraq (+52.8% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, rising by 20% against the previous year. Import price indicated prominent growth from 2012 to 2021: its price increased at an average annual rate of +8.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of 61%. Over the period under review, import prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, 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 Iraq ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iraq (+8.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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