Saudi Arabia: Market for Frozen, Dried And Smoked Fish 2024

Market Size for Frozen, Dried And Smoked Fish in Saudi Arabia

In 2023, after two years of decline, there was significant growth in the Saudi market for frozen, dried and smoked fish, when its value increased by X% to $X. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Production of Frozen, Dried And Smoked Fish in Saudi Arabia

In value terms, frozen, dried and smoked fish production fell modestly to $X in 2023 estimated in export price. Over the period under review, the total production indicated a buoyant 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, production increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Exports of Frozen, Dried And Smoked Fish

Exports from Saudi Arabia

After two years of growth, overseas shipments of frozen, dried and smoked fish decreased by X% to X tons in 2023. In general, exports, however, saw strong growth. The growth pace was the most rapid in 2016 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, frozen, dried and smoked fish exports dropped to $X in 2023. Over the period under review, exports, however, saw a prominent expansion. The growth pace was the most rapid in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

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

From 2012 to 2022, the average annual growth rate of volume to Bahrain totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Australia (X% per year).

In value terms, Bahrain ($X) remains the key foreign market for frozen, dried and smoked fish exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was held by Australia ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Bahrain stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The average export price for frozen, dried and smoked fish stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price, however, continues to indicate a slight curtailment. The pace of growth appeared the most rapid in 2016 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen, Dried And Smoked Fish

Imports into Saudi Arabia

Frozen, dried and smoked fish imports into Saudi Arabia stood at X tons in 2023, approximately equating 2022 figures. In general, imports showed a deep setback. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Imports peaked at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen, dried and smoked fish imports stood at $X in 2023. Overall, imports showed a abrupt decline. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2023, imports remained at a lower figure.

Imports by Country

Bahrain (X tons), Malaysia (X tons) and the United Arab Emirates (X tons) were the main suppliers of frozen, dried and smoked fish imports to Saudi Arabia, together comprising X% of total imports. Moreover, frozen, dried and smoked fish imports in Bahrain exceeded the figures recorded by the second-largest supplier, Malaysia, threefold.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest frozen, dried and smoked fish suppliers to Saudi Arabia were Bahrain ($X), Malaysia ($X) and the United Arab Emirates ($X), together comprising X% of total imports. Moreover, frozen, dried and smoked fish imports in Bahrain exceeded the figures recorded by the second-largest supplier, Malaysia, fourfold.

Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for frozen, dried and smoked fish stood at less than $X per ton in 2022, waning by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Bahrain ($X per ton) and the United Arab Emirates ($X per ton), while the price for Malaysia ($X per ton) and Myanmar ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform