GCC: Industrial Bakery Machinery Market 2024

Industrial Bakery Machinery Market Size in GCC

In 2022, the GCC industrial bakery machinery market increased by 14% to $X, rising for the third year in a row after three years of decline. The total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +75.0% against 2019 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Industrial Bakery Machinery Production in GCC

In value terms, industrial bakery machinery production stood at $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 173%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Industrial Bakery Machinery Exports

Exports in GCC

In 2022, the amount of industrial bakery machinery exported in GCC dropped sharply to X units, declining by -31.6% against 2021. Overall, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2015 with an increase of 240% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, industrial bakery machinery exports contracted significantly to $X in 2022. In general, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of 318% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted markedly in the following year.

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X units, which was near 89% of total exports in 2022. It was distantly followed by Saudi Arabia (X units), comprising a 9.5% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +10.3% from 2012 to 2022. At the same time, Saudi Arabia (+24.5%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +24.5% from 2012-2022. Saudi Arabia (+6.6 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 ($X) remains the largest industrial bakery machinery supplier in GCC, comprising 82% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 15% share of total exports.

In the United Arab Emirates, industrial bakery machinery exports increased at an average annual rate of +10.4% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, with an increase of 8.8% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the export price increased by 33% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the United Arab Emirates totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.9%).

Industrial Bakery Machinery Imports

Imports in GCC

For the third year in a row, GCC recorded growth in purchases abroad of industrial bakery machinery, which increased by 7.5% to X units in 2022. Overall, imports posted prominent growth. The most prominent rate of growth was recorded in 2020 with an increase of 52%. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, industrial bakery machinery imports dropped significantly to $X in 2022. Over the period under review, imports, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2021 with an increase of 39%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X units) and Qatar (X units) represented the largest importers of industrial bakery machinery in 2022, recording near 36% and 35% of total imports, respectively. Kuwait (X units) held a 15% share (based on physical terms) of total imports, which put it in second place, followed by Oman (9.6%). Bahrain (X units) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Qatar (with a CAGR of +28.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial bakery machinery importing markets in GCC were the United Arab Emirates ($X), Kuwait ($X) and Oman ($X), together comprising 89% of total imports.

Kuwait, with a CAGR of +16.9%, saw the highest growth rate of the value of imports, among 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

In 2022, the import price in GCC amounted to $X per unit, which is down by -48.3% against the previous year. In general, the import price faced a abrupt downturn. The growth pace was the most rapid in 2019 an increase of 34% against the previous year. Over the period under review, import prices hit record highs at $X per unit 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 Kuwait ($X per unit), while Qatar ($X per unit) 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 (-1.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform