GCC: Gingerbread Market 2024

Gingerbread Market Size in GCC

The GCC gingerbread market amounted to $X in 2022, surging by 3.5% against the previous year. In general, consumption showed a remarkable increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Gingerbread Production in GCC

In value terms, gingerbread production rose slightly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2016 when the production volume increased by 98%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Gingerbread Exports

Exports in GCC

In 2022, the amount of gingerbread exported in GCC declined rapidly to X tons, which is down by -61.5% against 2021 figures. Overall, exports continue to indicate a precipitous descent. The most prominent rate of growth was recorded in 2017 when exports increased by 50% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, gingerbread exports shrank significantly to $X in 2022. In general, exports showed a sharp descent. The most prominent rate of growth was recorded in 2021 with an increase of 80%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Kuwait was the key exporting country with an export of around X tons, which reached 62% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 28% share, followed by Saudi Arabia (6.6%). Oman (X tons) followed a long way behind the leaders.

Kuwait was also the fastest-growing in terms of the gingerbread exports, with a CAGR of +20.3% from 2012 to 2022. Oman experienced a relatively flat trend pattern. the United Arab Emirates (-22.2%) and Saudi Arabia (-38.7%) illustrated a downward trend over the same period. Kuwait (+62 p.p.) and Oman (+2.8 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -65.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X) emerged as the largest gingerbread supplier in GCC, comprising 66% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 24% share of total exports. It was followed by Saudi Arabia, with an 8.4% share.

In Kuwait, gingerbread exports expanded at an average annual rate of +14.5% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (-22.4% per year) and Saudi Arabia (-40.3% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, declining by -31.2% against the previous year. Over the period under review, the export price showed a perceptible shrinkage. The pace of growth appeared the most rapid in 2016 when the export price increased by 57% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

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 Saudi Arabia ($X per ton), while Oman ($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 (-0.3%), while the other leaders experienced a decline in the export price figures.

Gingerbread Imports

Imports in GCC

After two years of growth, supplies from abroad of gingerbread decreased by -34.3% to X tons in 2022. Overall, imports, however, saw resilient growth. The pace of growth was the most pronounced in 2021 when imports increased by 77%. As a result, imports attained the peak of X tons, and then contracted rapidly in the following year.

In value terms, gingerbread imports contracted notably to $X in 2022. Over the period under review, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 101% against the previous year. As a result, imports reached the peak of $X, and then shrank dramatically in the following year.

Imports by Country

Saudi Arabia (X tons) and Kuwait (X tons) represented roughly 73% of total imports in 2022. Bahrain (X tons) ranks next in terms of the total imports with a 10% share, followed by the United Arab Emirates (9.5%) and Qatar (6.8%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Saudi Arabia (with a CAGR of +37.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Kuwait ($X) and Qatar ($X) were the countries with the highest levels of imports in 2022, together comprising 76% of total imports.

Among the main importing countries, Saudi Arabia, with a CAGR of +24.4%, recorded the highest growth rate of 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, which is down by -13.6% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the import price increased by 16%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform