MENA: Market for Fresh Or Chilled Anchovies 2024

Market Size for Fresh Or Chilled Anchovies in MENA

The MENA's fresh or chilled anchovies market shrank to $X in 2023, falling by X% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2023, consumption failed to regain momentum.

Production of Fresh Or Chilled Anchovies in MENA

In value terms, fresh or chilled anchovies production contracted modestly to $X in 2023 estimated in export price. Overall, production saw a perceptible descent. The growth pace was the most rapid in 2020 when the production volume increased by X%. The level of production peaked at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Exports of Fresh Or Chilled Anchovies

Exports in MENA

After five years of decline, shipments abroad of fresh or chilled anchovieses increased by X% to X tons in 2023. Overall, exports, however, saw a drastic downturn. 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 2017; however, from 2018 to 2023, the exports remained at a lower figure.

In value terms, fresh or chilled anchovies exports fell sharply to $X in 2023. In general, exports, however, recorded a sharp setback. The pace of growth was the most pronounced in 2016 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Oman dominates exports structure, accounting for X tons, which was near X% of total exports in 2023. It was distantly followed by Turkey (X tons), generating a X% share of total exports.

Oman was also the fastest-growing in terms of the fresh or chilled anchovieses exports, with a CAGR of X% from 2012 to 2023. Turkey (X%) illustrated a downward trend over the same period. While the share of Oman (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fresh or chilled anchovies supplying countries in MENA were Oman ($X) and Turkey ($X).

In terms of the main exporting countries, Turkey, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in MENA stood at $X per ton in 2023, waning by X% against the previous year. Over the period under review, the export price recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 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.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Oman stood at $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Imports of Fresh Or Chilled Anchovies

Imports in MENA

In 2023, purchases abroad of fresh or chilled anchovieses increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, imports, however, saw a noticeable decrease. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2023, imports stood at a somewhat lower figure.

In value terms, fresh or chilled anchovies imports soared to $X in 2023. Over the period under review, imports recorded resilient growth. The pace of growth was the most pronounced in 2015 when imports increased by X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2023, imports failed to regain momentum.

Imports by Country

Morocco represented the key importing country with an import of about X tons, which resulted at X% of total imports. The United Arab Emirates (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Turkey (X%).

Imports into Morocco decreased at an average annual rate of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. By contrast, Turkey (X%) illustrated a downward trend over the same period. While the share of Morocco (X p.p.) and the United Arab Emirates (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Turkey (X p.p.) displayed negative dynamics.

In value terms, Morocco ($X) constitutes the largest market for imported fresh or chilled anchovieses in MENA, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an X% share of total imports.

From 2012 to 2023, the average annual growth rate of value in Morocco totaled X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Turkey (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2023, stabilizing at the previous year. In general, the import price enjoyed buoyant growth. The most prominent rate of growth was recorded in 2013 an increase of X%. The level of import peaked at $X per ton in 2021; however, from 2022 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey ($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 mixed trends in the import price figures.

Source: IndexBox Platform