GCC: Canned Food Market 2024

Canned Food Market Size in GCC

In 2021, the GCC canned food market was finally on the rise to reach $X after two years of decline. The total consumption indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -14.8% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Canned Food Production in GCC

In value terms, canned food production rose notably to $X in 2021 estimated in export price. The total production indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -18.4% against 2018 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by 27%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Canned Food Exports

Exports in GCC

After two years of growth, shipments abroad of canned food decreased by -14.9% to X tons in 2021. The total export volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when exports increased by 19% against the previous year. The volume of export peaked at X tons in 2020, and then dropped in the following year.

In value terms, canned food exports contracted to $X in 2021. In general, exports, however, showed a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of 43%. The level of export peaked at $X in 2020, and then dropped in the following year.

Exports by Country

The United Arab Emirates was the major exporting country with an export of about X tons, which finished at 65% of total exports. It was distantly followed by Saudi Arabia (X tons), creating a 28% share of total exports. The following exporters - Kuwait (X tons) and Oman (X tons) - together made up 5.7% of total exports.

From 2012 to 2021, average annual rates of growth with regard to canned food exports from the United Arab Emirates stood at +1.7%. At the same time, Kuwait (+12.1%) and Saudi Arabia (+6.7%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +12.1% from 2012-2021. Oman experienced a relatively flat trend pattern. From 2012 to 2021, the share of Saudi Arabia and Kuwait increased by +7.5 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest canned food supplier in GCC, comprising 69% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 25% share of total exports. It was followed by Kuwait, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates totaled +13.9%. In the other countries, the average annual rates were as follows: Saudi Arabia (+5.9% per year) and Kuwait (+13.1% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, picking up by 8.6% against the previous year. Export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the export price increased by 36% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the United Arab Emirates ($X per ton) and Oman ($X per ton), while Kuwait ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.1%), while the other leaders experienced more modest paces of growth.

Canned Food Imports

Imports in GCC

In 2021, overseas purchases of canned food decreased by -6.3% to X tons for the first time since 2018, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 14%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, canned food imports fell modestly to $X in 2021. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2019 with an increase of 16% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

Saudi Arabia was the largest importing country with an import of about X tons, which finished at 49% of total imports. It was distantly followed by the United Arab Emirates (X tons), Kuwait (X tons), Oman (X tons) and Qatar (X tons), together creating a 48% share of total imports. Bahrain (X tons) held a relatively small share of total imports.

Imports into Saudi Arabia increased at an average annual rate of +1.3% from 2012 to 2021. At the same time, Oman (+4.7%), Kuwait (+3.0%), Bahrain (+3.0%) and the United Arab Emirates (+1.3%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +4.7% from 2012-2021. Qatar experienced a relatively flat trend pattern. Oman (+2 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by -1.9% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported canned food in GCC, comprising 57% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 16% share of total imports. It was followed by Kuwait, with a 12% share.

In Saudi Arabia, canned food imports expanded at an average annual rate of +2.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+1.7% per year) and Kuwait (+5.4% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, increasing by 3.3% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 6.1% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform