GCC: Market for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs 2024

Market Size for Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in GCC

In 2023, the GCC meat and fish extracts market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. Over the period under review, consumption saw a pronounced downturn. The most prominent rate of growth was recorded in 2021 when the market value increased by X% against the previous year. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2023, consumption remained at a lower figure.

Production of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs in GCC

In value terms, meat and fish extracts production reached $X in 2023 estimated in export price. In general, production, however, showed a noticeable setback. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2014 to 2023, production growth remained at a lower figure.

Exports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Exports in GCC

In 2023, shipments abroad of extracts and juices of meat, fish, crustaceans and molluscs increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, exports showed a buoyant increase. The pace of growth was the most pronounced in 2014 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 failed to regain momentum.

In value terms, meat and fish extracts exports shrank to $X in 2023. In general, exports enjoyed buoyant growth. The pace of growth was the most pronounced in 2014 when exports increased by X%. The level of export peaked at $X in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) and Bahrain (X tons) represented the major exporters of extracts and juices of meat, fish, crustaceans and molluscs in 2023, finishing at near X% and X% of total exports, respectively. It was distantly followed by the United Arab Emirates (X tons), mixing up a X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the United Arab Emirates ($X) remains the largest meat and fish extracts supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Bahrain (X% per year).

Export Prices by Country

In 2023, the export price in GCC amounted to $X per ton, reducing by X% against the previous year. In general, the export price, however, showed a modest increase. The growth pace was the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2022, and then dropped remarkably in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($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 a decline in the export price figures.

Imports of Extracts And Juices Of Meat, Fish, Crustaceans And Molluscs

Imports in GCC

In 2023, after five years of growth, there was significant decline in purchases abroad of extracts and juices of meat, fish, crustaceans and molluscs, when their volume decreased by X% to X tons. In general, imports, however, showed a mild increase. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports reached the peak of X tons, and then contracted remarkably in the following year.

In value terms, meat and fish extracts imports fell rapidly to $X in 2023. Overall, imports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2019 with an increase of X%. The level of import peaked at $X in 2022, and then declined significantly in the following year.

Imports by Country

The United Arab Emirates prevails in imports structure, finishing at X tons, which was approx. X% of total imports in 2023. It was distantly followed by Bahrain (X tons), comprising a X% share of total imports. The following importers - Saudi Arabia (X tons), Kuwait (X tons) and Oman (X tons) - together made up X% of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Oman (X%), Saudi Arabia (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. By contrast, Kuwait (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total imports, while Kuwait saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported extracts and juices of meat, fish, crustaceans and molluscs in GCC, comprising X% of total imports. The second position in the ranking was held by Bahrain ($X), with a X% share of total imports. It was followed by Saudi Arabia, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Bahrain (X% per year) and Saudi Arabia (X% per year).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, picking up by X% against the previous year. Overall, the import price showed a temperate expansion. The growth pace was the most rapid in 2019 an increase of X%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2023, import prices stood at a somewhat lower figure.

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 Bahrain ($X per ton), while Kuwait ($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 mixed trends in the import price figures.

Source: IndexBox Platform