GCC: Preserved Tuna Market 2024

Preserved Tuna Market Size in GCC

The GCC preserved tuna market fell slightly to $X in 2023, therefore, remained relatively stable against the previous year. The total consumption indicated moderate 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, consumption decreased by X% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market failed to regain momentum.

Preserved Tuna Production in GCC

In value terms, preserved tuna production declined rapidly to $X in 2023 estimated in export price. Over the period under review, production, however, saw prominent growth. The growth pace was the most rapid in 2022 with an increase of X%. As a result, production reached the peak level of $X, and then dropped sharply in the following year.

Preserved Tuna Exports

Exports in GCC

In 2023, shipments abroad of tuna (prepared or preserved) increased by X% to X tons for the first time since 2018, thus ending a four-year declining trend. Over the period under review, exports, however, showed a abrupt slump. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2023, the growth of the exports failed to regain momentum.

In value terms, preserved tuna exports declined to $X in 2023. In general, exports, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

In 2023, the United Arab Emirates (X tons), Saudi Arabia (X tons) and Oman (X tons) was the main exporter of tuna (prepared or preserved) in GCC, creating X% of total export. The following exporters - Bahrain (X tons) and Kuwait (X tons) - together made up X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Saudi Arabia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Oman ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

Among the main exporting countries, Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, shrinking 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 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then reduced in the following year.

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 Bahrain ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Preserved Tuna Imports

Imports in GCC

After three years of decline, supplies from abroad of tuna (prepared or preserved) increased by X% to X tons in 2023. Overall, imports, however, showed a mild reduction. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, preserved tuna imports skyrocketed to $X in 2023. Over the period under review, imports, however, continue to indicate a noticeable descent. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2023, imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) prevails in imports structure, together generating X% of total imports. It was distantly followed by Kuwait (X tons) and Oman (X tons), together committing a X% share of total imports. Qatar (X tons) took a relatively small share of total imports.

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

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Oman and Qatar lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Oman, with a CAGR of X%, saw the highest growth rate of 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 GCC stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the import price showed a slight downturn. The pace of growth was the most pronounced in 2017 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 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 Qatar ($X per ton), while Oman ($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