GCC: Organ Extracts Market 2024

Organ Extracts Market Size in GCC

The GCC organ extracts market surged to $X in 2021, picking up by 72% against the previous year. Over the period under review, consumption posted a resilient increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Organ Extracts Production in GCC

In value terms, organ extracts production skyrocketed to $X in 2021 estimated in export price. In general, production, however, continues to indicate a strong expansion. The pace of growth appeared the most rapid in 2015 when the production volume increased by 66% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Organ Extracts Exports

Exports in GCC

For the third consecutive year, GCC recorded decline in overseas shipments of extracts of glands or other organs or of their secretions, which decreased by -29.7% to X tons in 2021. Over the period under review, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2018 with an increase of 654%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, organ extracts exports reached $X in 2021. Overall, exports continue to indicate a deep setback. The most prominent rate of growth was recorded in 2018 when exports increased by 459%. The level of export peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

In 2021, the United Arab Emirates (X tons) represented the major exporter of extracts of glands or other organs or of their secretions, generating 83% of total exports. It was distantly followed by Kuwait (X kg), comprising a 12% share of total exports. Saudi Arabia (X kg) held a little share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the extracts of glands or other organs or of their secretions exports, with a CAGR of +28.4% from 2012 to 2021. At the same time, Kuwait (+16.9%) displayed positive paces of growth. By contrast, Saudi Arabia (-40.5%) illustrated a downward trend over the same period. The United Arab Emirates (+81 p.p.) and Kuwait (+11 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -91.8% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) remains the largest organ extracts supplier in GCC, comprising 85% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 4.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates totaled +5.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Kuwait (+19.7% per year) and Saudi Arabia (-38.3% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, jumping by 45% against the previous year. Over the period under review, the export price enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2016 an increase of 151% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.8%), while the other leaders experienced mixed trends in the export price figures.

Organ Extracts Imports

Imports in GCC

In 2021, approx. X tons of extracts of glands or other organs or of their secretions were imported in GCC; growing by 193% on the year before. Overall, imports showed strong growth. The pace of growth was the most pronounced in 2017 with an increase of 286%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, organ extracts imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2019 when imports increased by 287%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the main importing country with an import of around X tons, which resulted at 77% of total imports. It was distantly followed by Qatar (X tons), comprising a 16% share of total imports. The following importers - Kuwait (X kg) and Oman (X kg) - each finished at a 6.1% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to organ extracts imports into the United Arab Emirates stood at +16.0%. At the same time, Qatar (+56.4%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +56.4% from 2012-2021. Kuwait experienced a relatively flat trend pattern. By contrast, Oman (-1.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Qatar and the United Arab Emirates increased by +15 and +4.6 percentage points, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported extracts of glands or other organs or of their secretions in GCC, comprising 67% of total imports. The second position in the ranking was taken by Qatar ($X), with a 17% share of total imports. It was followed by Kuwait, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates totaled +11.4%. In the other countries, the average annual rates were as follows: Qatar (+2.5% per year) and Kuwait (+4.1% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, declining by -38.8% against the previous year. Overall, the import price continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2019 when the import price increased by 159%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+4.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform