GCC: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in GCC

The GCC market for candies, sweets, and nonchocolate confectionery rose sharply to $X in 2022, with an increase of 9.3% against the previous year. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +8.1% against 2019 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Production of Candies, Sweets, and Nonchocolate Confectionery in GCC

In value terms, candy, sweets, and nonchocolate confectionery production expanded to $X in 2022 estimated in export price. Overall, production showed a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 55%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports in GCC

In 2022, overseas shipments of candies, sweets, and nonchocolate confectionery decreased by -27.1% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports showed a perceptible shrinkage. The growth pace was the most rapid in 2017 with an increase of 43%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, candy, sweets, and nonchocolate confectionery exports fell markedly to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 60%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Saudi Arabia prevails in exports structure, recording X tons, which was approx. 77% of total exports in 2022. Oman (X tons) held an 8.3% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (6.4%) and Kuwait (6.3%). Bahrain (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to candy, sweets, and nonchocolate confectionery exports from Saudi Arabia stood at +1.5%. At the same time, Oman (+4.4%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +4.4% from 2012-2022. Bahrain experienced a relatively flat trend pattern. By contrast, Kuwait (-8.8%) and the United Arab Emirates (-15.6%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+24 p.p.) and Oman (+4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Kuwait (-6.4 p.p.) and the United Arab Emirates (-21.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) remains the largest candy, sweets, and nonchocolate confectionery supplier in GCC, comprising 77% of total exports. The second position in the ranking was taken by Oman ($X), with a 10% share of total exports. It was followed by the United Arab Emirates, with a 6.1% share.

In Saudi Arabia, candy, sweets, and nonchocolate confectionery exports expanded at an average annual rate of +2.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (+3.9% per year) and the United Arab Emirates (-14.1% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, with a decrease of -9.2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2017 when the export price increased by 12% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.8%), while the other leaders experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports in GCC

In 2022, imports of candies, sweets, and nonchocolate confectionery in GCC amounted to X tons, flattening at the year before. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 13% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, candy, sweets, and nonchocolate confectionery imports totaled $X in 2022. Total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +4.5% against 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 18%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) dominates imports structure, together achieving 79% of total imports. Kuwait (X tons) ranks next in terms of the total imports with a 7.5% share, followed by Oman (7.1%). The following importers - Bahrain (X tons) and Qatar (X tons) - each reached a 6% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +5.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) constituted the countries with the highest levels of imports in 2022, with a combined 88% share of total imports.

Saudi Arabia, with a CAGR of +7.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, leveling off at the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2020 an increase of 11% against the previous year. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 2022, the most notable rate of growth in terms of prices was attained by Qatar (+4.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform