GCC: Frozen Fish Meat Market 2024

Frozen Fish Meat Market Size in GCC

The GCC frozen fish meat market soared to $X in 2023, with an increase of X% against the previous year. In general, consumption, however, continues to indicate a noticeable curtailment. As a result, consumption reached the peak level of $X. From 2016 to 2023, the growth of the market remained at a lower figure.

Frozen Fish Meat Production in GCC

In value terms, frozen fish meat production surged to $X in 2023 estimated in export price. Over the period under review, production enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Frozen Fish Meat Exports

Exports in GCC

In 2023, exports of frozen fish meat in GCC soared to X tons, with an increase of X% against the previous year. In general, exports showed a strong expansion. The growth pace was the most rapid in 2018 with an increase of X%. As a result, the exports reached the peak of X tons. From 2019 to 2023, the growth of the exports remained at a lower figure.

In value terms, frozen fish meat exports stood at $X in 2023. Over the period under review, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Bahrain (X tons) was the key exporter of frozen fish meat, mixing up X% of total exports. Saudi Arabia (X tons) ranks second in terms of the total exports with a X% share, followed by the United Arab Emirates (X%).

Bahrain was also the fastest-growing in terms of the frozen fish meat exports, with a CAGR of X% from 2012 to 2023. At the same time, Saudi Arabia (X%) displayed positive paces of growth. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Bahrain and Saudi Arabia increased by X and X percentage points, respectively.

In value terms, Bahrain ($X) remains the largest frozen fish meat supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

In Bahrain, frozen fish meat exports 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: Saudi Arabia (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, which is down by X% against the previous year. In general, the export price showed a slight slump. The most prominent rate of growth was recorded in 2019 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat 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 ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced a decline in the export price figures.

Frozen Fish Meat Imports

Imports in GCC

In 2023, overseas purchases of frozen fish meat were finally on the rise to reach X tons after three years of decline. Over the period under review, imports, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, frozen fish meat imports surged to $X in 2023. In general, imports, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, Bahrain (X tons) was the major importer of frozen fish meat, committing X% of total imports. It was distantly followed by Saudi Arabia (X tons), achieving a X% share of total imports. Qatar (X tons), the United Arab Emirates (X tons) and Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bahrain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish meat importing markets in GCC were Bahrain ($X), Saudi Arabia ($X) and the United Arab Emirates ($X), with a combined X% share of total imports.

Among the main importing countries, Bahrain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, growing by X% against the previous year. Overall, the import price recorded a relatively flat trend pattern. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, 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 Kuwait (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform