GCC: Crispbread Market 2024

Crispbread Market Size in GCC

The GCC crispbread market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption recorded a prominent increase. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Crispbread Production in GCC

In value terms, crispbread production rose to $X in 2021 estimated in export price. Overall, production recorded buoyant growth. The growth pace was the most rapid in 2017 when the production volume increased by 124% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Crispbread Exports

Exports in GCC

In 2021, the amount of crispbread exported in GCC declined notably to X tons, waning by -16.2% compared with 2020 figures. Overall, exports showed a deep setback. The growth pace was the most rapid in 2017 when exports increased by 61%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, crispbread exports contracted notably to $X in 2021. In general, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 64%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates represented the key exporting country with an export of around X tons, which finished at 66% of total exports. Saudi Arabia (X tons) took the second position in the ranking, distantly followed by Oman (X tons) and Kuwait (X tons). All these countries together took near 34% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +1.8% from 2012 to 2021. At the same time, Oman (+32.8%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +32.8% from 2012-2021. By contrast, Kuwait (-2.9%) and Saudi Arabia (-26.9%) illustrated a downward trend over the same period. The United Arab Emirates (+51 p.p.), Oman (+9.9 p.p.) and Kuwait (+3.4 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -63.6% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) remains the largest crispbread supplier in GCC, comprising 71% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 13% share of total exports. It was followed by Kuwait, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates amounted to +9.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (-24.3% per year) and Kuwait (+6.1% per year).

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, reducing by -14.5% against the previous year. Over the period under review, the export price, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2019 when the export price increased by 42%. The level of export peaked at $X per ton in 2020, and then shrank in the following year.

Prices varied noticeably country of origin: the country with the highest price was Kuwait ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+9.3%), while the other leaders experienced more modest paces of growth.

Crispbread Imports

Imports in GCC

For the fifth year in a row, GCC recorded growth in overseas purchases of crispbread, which increased by 24% to X tons in 2021. Over the period under review, imports saw prominent growth. The most prominent rate of growth was recorded in 2015 when imports increased by 45% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the near future.

In value terms, crispbread imports surged to $X in 2021. Overall, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of 25%. The level of import peaked in 2021 and is likely to continue growth in the near future.

Imports by Country

In 2021, the United Arab Emirates (X tons) represented the largest importer of crispbread, making up 36% of total imports. Kuwait (X tons) ranks second in terms of the total imports with a 20% share, followed by Saudi Arabia (15%), Oman (13%) and Bahrain (12%). Qatar (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Saudi Arabia (with a CAGR of +55.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest crispbread importing markets in GCC were the United Arab Emirates ($X), Kuwait ($X) and Saudi Arabia ($X), together comprising 78% of total imports.

Saudi Arabia, with a CAGR of +50.1%, 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

The import price in GCC stood at $X per ton in 2021, waning by -3.1% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 24% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+7.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform