GCC: Fructose Market 2024

Fructose Market Size in GCC

The GCC fructose market declined to $X in 2021, with a decrease of -9.9% against the previous year. Overall, consumption recorded a modest increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Fructose Production in GCC

In value terms, fructose production amounted to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2014 with an increase of 30% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Fructose Exports

Exports in GCC

In 2021, fructose exports in GCC fell dramatically to X tons, which is down by -35.4% on the year before. Overall, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 262%. Over the period under review, the exports reached the peak figure at X tons in 2020, and then reduced rapidly in the following year.

In value terms, fructose exports contracted notably to $X in 2021. In general, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2017 with an increase of 437%. The level of export peaked at $X in 2020, and then fell sharply in the following year.

Exports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) dominates exports structure, together making up 92% of total exports. It was distantly followed by Bahrain (X tons), committing an 8.1% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Bahrain (with a CAGR of +64.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Bahrain ($X) were the countries with the highest levels of exports in 2021, with a combined 100% share of total exports.

Among the main exporting countries, Bahrain, with a CAGR of +58.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, picking up by 19% against the previous year. Export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fructose export price decreased by -15.4% against 2019 indices. The pace of growth was the most pronounced in 2019 an increase of 52%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.3%), while the other leaders experienced mixed trends in the export price figures.

Fructose Imports

Imports in GCC

In 2021, after two years of growth, there was significant decline in supplies from abroad of fructose and fructose syrup, when their volume decreased by -7.3% to X tons. Overall, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 38% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2020, and then shrank in the following year.

In value terms, fructose imports contracted sharply to $X in 2021. Over the period under review, imports, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2017 when imports increased by 58% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) represented the major importer of fructose and fructose syrup, achieving 61% of total imports. It was distantly followed by Saudi Arabia (X tons), Oman (X tons) and Kuwait (X tons), together mixing up a 34% share of total imports. The following importers - Bahrain (X tons) and Qatar (X tons) - together made up 5.8% of total imports.

From 2012 to 2021, average annual rates of growth with regard to fructose imports into the United Arab Emirates stood at +13.1%. At the same time, Bahrain (+26.9%), Kuwait (+11.9%), Oman (+10.6%) and Qatar (+7.2%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +26.9% from 2012-2021. Saudi Arabia experienced a relatively flat trend pattern. The United Arab Emirates (+21 p.p.) and Bahrain (+3.2 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by -26.7% from 2012 to 2021, respectively. 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 2021, with a combined 87% share of total imports. Oman, Bahrain and Qatar lagged somewhat behind, together accounting for a further 13%.

Bahrain, with a CAGR of +26.9%, saw 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, falling by -12.1% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the import price increased by 31%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, 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 Saudi Arabia ($X per ton), while the United Arab Emirates ($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 (+6.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform