GCC: Grape Must Market 2024

Grape Must Market Size in GCC

The GCC grape must market skyrocketed to $X in 2021, picking up by 37% against the previous year. Over the period under review, consumption recorded a prominent expansion. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Grape Must Production in GCC

In value terms, grape must production soared to $X in 2021 estimated in export price. Overall, production recorded a buoyant increase. The pace of growth was the most pronounced in 2019 when the production volume increased by 142%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Grape Must Exports

Exports in GCC

In 2021, shipments abroad of grape must increased by 803% to X litres for the first time since 2018, thus ending a two-year declining trend. In general, exports showed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, grape must exports skyrocketed to $X in 2021. Over the period under review, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from the United Arab Emirates (X litres), together resulting at 99.9% of total export.

The United Arab Emirates was also the fastest-growing in terms of the grape must exports, with a CAGR of +67.4% from 2012 to 2021. The United Arab Emirates (+14 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest grape must supplier in GCC.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +71.7%.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per litre, rising by 4.8% against the previous year. Over the period under review, the export price, however, saw a mild reduction. The most prominent rate of growth was recorded in 2017 an increase of 204%. The level of export peaked at $X per litre in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to +2.5% per year.

Grape Must Imports

Imports in GCC

Grape must imports expanded to X litres in 2021, picking up by 4.6% on the previous year's figure. Overall, imports enjoyed prominent growth. The growth pace was the most rapid in 2014 when imports increased by 50% against the previous year. Over the period under review, imports attained the maximum at X litres in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, grape must imports declined remarkably to $X in 2021. In general, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2015 when imports increased by 72% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Oman (X litres) was the key importer of grape must, constituting 76% of total imports. The United Arab Emirates (X litres) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Bahrain (6%). The following importers - Saudi Arabia (X litres) and Kuwait (X litres) - together made up 6.8% of total imports.

Oman was also the fastest-growing in terms of the grape must imports, with a CAGR of +60.9% from 2012 to 2021. At the same time, Saudi Arabia (+39.4%) and Bahrain (+12.7%) displayed positive paces of growth. By contrast, the United Arab Emirates (-9.4%) and Kuwait (-16.5%) illustrated a downward trend over the same period. Oman (+73 p.p.), Kuwait (+3.2 p.p.) and Saudi Arabia (+3 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -78.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Oman ($X) constitutes the largest market for imported grape must in GCC, comprising 55% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 20% share of total imports. It was followed by Bahrain, with a 14% share.

In Oman, grape must imports expanded at an average annual rate of +43.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (-5.7% per year) and Bahrain (+16.1% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per litre, which is down by -27.3% against the previous year. Over the period under review, the import price saw a perceptible downturn. The most prominent rate of growth was recorded in 2020 when the import price increased by 46%. Over the period under review, import prices reached the maximum at $X per litre in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+20.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform