Saudi Arabia: Frozen Crustaceans Market 2024

Frozen Crustaceans Market Size in Saudi Arabia

In 2023, the Saudi frozen crustaceans market was finally on the rise to reach $X after two years of decline. In general, consumption enjoyed a remarkable increase. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2023, consumption stood at a somewhat lower figure.

Frozen Crustaceans Production in Saudi Arabia

In value terms, frozen crustaceans production totaled $X in 2023 estimated in export price. In general, production saw a significant expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. Frozen crustaceans production peaked at $X in 2018; however, from 2019 to 2023, production stood at a somewhat lower figure.

Frozen Crustaceans Exports

Exports from Saudi Arabia

In 2023, shipments abroad of frozen crustaceans decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Overall, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, frozen crustaceans exports reduced remarkably to $X in 2023. In general, exports, however, continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for frozen crustaceans exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, frozen crustaceans exports to China exceeded the volume sent to the second major destination, the United States (X tons), twofold. Egypt (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2020, the average annual rate of growth in terms of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Egypt (X% per year).

In value terms, the largest markets for frozen crustaceans exported from Saudi Arabia were China ($X), the United States ($X) and Egypt ($X), with a combined X% share of total exports.

Among the main countries of destination, China, with a CAGR of X%, recorded 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 average frozen crustaceans export price stood at $X per ton in 2020, increasing by X% against the previous year. In general, the export price, however, recorded a slight contraction. The most prominent rate of growth was recorded in 2016 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2020, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2020, amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (X%), while the prices for the other major destinations experienced a decline.

Frozen Crustaceans Imports

Imports into Saudi Arabia

For the sixth consecutive year, Saudi Arabia recorded decline in supplies from abroad of frozen crustaceans, which decreased by X% to X tons in 2023. In general, imports faced a deep downturn. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, frozen crustaceans imports totaled $X in 2023. Over the period under review, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Imports peaked at $X in 2019; however, from 2020 to 2023, imports failed to regain momentum.

Imports by Country

In 2020, Myanmar (X tons) constituted the largest frozen crustaceans supplier to Saudi Arabia, with a X% share of total imports. It was followed by Vietnam (X tons), with a X% share of total imports.

From 2012 to 2020, the average annual growth rate of volume from Myanmar stood at X%.

In value terms, Myanmar ($X) constituted the largest supplier of frozen crustaceans to Saudi Arabia, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports.

From 2012 to 2020, the average annual growth rate of value from Myanmar stood at X%.

Import Prices by Country

In 2020, the average frozen crustaceans import price amounted to $X per ton, dropping by X% against the previous year. Over the period from 2012 to 2020, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2014 when the average import price increased by X%. Over the period under review, average import prices reached the maximum at $X per ton in 2019, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Myanmar amounted to $X per ton.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform