GCC: Frozen Vegetable Market 2024

Frozen Vegetable Market Size in GCC

The GCC frozen vegetable market declined to $X in 2022, falling by X% against the previous year. The total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2016 indices. Over the period under review, the market reached the peak level at $X in 2021, and then contracted in the following year.

Frozen Vegetable Production in GCC

In value terms, frozen vegetable production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Frozen Vegetable Exports

Exports in GCC

In 2022, shipments abroad of frozen vegetables increased by X% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports, however, continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, frozen vegetable exports skyrocketed to $X in 2022. In general, exports, however, saw a noticeable slump. The pace of growth was the most pronounced in 2020 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, the United Arab Emirates (X tons) represented the largest exporter of frozen vegetables, constituting X% of total exports. It was distantly followed by Saudi Arabia (X tons), generating a X% share of total exports. Oman (X tons) and Kuwait (X tons) took a minor share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the frozen vegetables exports, with a CAGR of X% from 2012 to 2022. At the same time, Oman (X%) and Kuwait (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Oman and Kuwait increased by X, X and X percentage points, respectively.

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

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price recorded buoyant growth. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2019; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Frozen Vegetable Imports

Imports in GCC

After four years of growth, supplies from abroad of frozen vegetables decreased by X% to X tons in 2022. Total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2021, and then shrank modestly in the following year.

In value terms, frozen vegetable imports contracted to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2014 indices. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports attained the maximum at $X in 2021, and then reduced modestly in the following year.

Imports by Country

Saudi Arabia was the key importer of frozen vegetables in GCC, with the volume of imports resulting at X tons, which was near X% of total imports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total imports with a X% share, followed by Kuwait (X%), Qatar (X%) and Oman (X%). Bahrain (X tons) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen vegetable imports into Saudi Arabia stood at X%. At the same time, Qatar (X%), Kuwait (X%), Bahrain (X%), Oman (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. While the share of Kuwait (X p.p.) and Qatar (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (X p.p.) and the United Arab Emirates (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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, together accounting for X% of total imports. Qatar, Oman and Bahrain lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Qatar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2013 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the 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 Bahrain ($X per ton), while Saudi Arabia ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform