MENA: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in MENA

The MENA's frozen crustaceans market rose significantly to $X in 2023, growing by X% against the previous year. The total consumption indicated a perceptible increase 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 MENA

In value terms, frozen crustaceans production reached $X in 2023 estimated in export price. The total production 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, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2016 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.

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Frozen Crustaceans Exports

Exports in MENA

In 2023, overseas shipments of frozen crustaceans decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, exports, however, saw a resilient increase. The growth pace was the most rapid in 2016 when exports increased by X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, frozen crustaceans exports reduced to $X in 2023. Overall, exports, however, saw strong growth. The pace of growth was the most pronounced in 2016 when exports increased by X%. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of frozen crustaceans, namely Iran, Saudi Arabia and the United Arab Emirates, represented more than two-thirds of total export. It was distantly followed by Tunisia (X tons), Bahrain (X tons) and Morocco (X tons), together mixing 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) were the countries with the highest levels of exports in 2023, together comprising X% of total exports.

Iran, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2023, the export price in MENA amounted to $X per ton, shrinking by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2020; however, from 2021 to 2023, the export prices failed to regain momentum.

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 Morocco ($X per ton), while Bahrain ($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 MENA

In 2023, frozen crustaceans imports in MENA shrank to X tons, falling by X% compared with 2022. Total imports indicated a modest 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 2019 indices. 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 attained the maximum at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, frozen crustaceans imports totaled $X in 2023. Total imports indicated noticeable 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, imports decreased by X% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2023, imports failed to regain momentum.

Imports by Country

Morocco (X tons), the United Arab Emirates (X tons) and Egypt (X tons) represented roughly X% of total imports in 2023. Kuwait (X tons) took the next position in the ranking, followed by Turkey (X tons) and Qatar (X tons). All these countries together took near X% share of total imports. Saudi Arabia (X tons) took a little share of total imports.

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

In value terms, the largest frozen crustaceans importing markets in MENA were the United Arab Emirates ($X), Egypt ($X) and Morocco ($X), with a combined X% share of total imports. Kuwait, Turkey, Saudi Arabia and Qatar lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Turkey, 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

The import price in MENA stood at $X per ton in 2023, rising by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 an increase of X%. Over the period under review, import prices attained the maximum in 2023 and is likely to continue growth in years to come.

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 ($X per ton), while Morocco ($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 more modest paces of growth.

Source: IndexBox Platform