GCC: Inulin Market 2024

Inulin Market Size in GCC

The GCC inulin market fell modestly to $X in 2021, approximately reflecting the previous year. The total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by +0.1% against 2019 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Inulin Production in GCC

In value terms, inulin production shrank to $X in 2021 estimated in export price. In general, production saw a resilient expansion. The pace of growth was the most pronounced in 2015 with an increase of 34% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Inulin Exports

Exports in GCC

In 2021, approx. X tons of inulin were exported in GCC; with a decrease of -76.2% on 2020 figures. Over the period under review, exports saw a deep setback. The growth pace was the most rapid in 2018 when exports increased by 98%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, inulin exports contracted significantly to $X in 2021. Overall, exports continue to indicate a abrupt slump. The growth pace was the most rapid in 2018 when exports increased by 41%. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Saudi Arabia was the major exporting country with an export of about X tons, which reached 82% of total exports. It was distantly followed by the United Arab Emirates (X kg), achieving a 17% share of total exports.

Exports from Saudi Arabia decreased at an average annual rate of -16.9% from 2012 to 2021. The United Arab Emirates (-13.7%) illustrated a downward trend over the same period. The United Arab Emirates (+4.2 p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by -5% from 2012 to 2021, respectively.

In value terms, Saudi Arabia ($X) remains the largest inulin supplier in GCC, comprising 94% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 5.2% share of total exports.

In Saudi Arabia, inulin exports decreased by an average annual rate of -8.5% over the period from 2012-2021.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, increasing by 136% against the previous year. In general, the export price continues to indicate a prominent expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+10.1%).

Inulin Imports

Imports in GCC

For the third year in a row, GCC recorded decline in overseas purchases of inulin, which decreased by -26.7% to X tons in 2021. Over the period under review, imports saw a noticeable shrinkage. The growth pace was the most rapid in 2014 with an increase of 269%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, inulin imports reached $X in 2021. Overall, imports, however, showed strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 580%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates represented the largest importer of inulin in GCC, with the volume of imports finishing at X tons, which was approx. 70% of total imports in 2021. Kuwait (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (7%) and Oman (6.7%).

The United Arab Emirates was also the fastest-growing in terms of the inulin imports, with a CAGR of +10.4% from 2012 to 2021. At the same time, Qatar (+5.7%) and Oman (+3.4%) displayed positive paces of growth. By contrast, Kuwait (-19.0%) illustrated a downward trend over the same period. The United Arab Emirates (+50 p.p.), Qatar (+7 p.p.) and Oman (+3.3 p.p.) significantly strengthened its position in terms of the total imports, while Kuwait saw its share reduced by -57.9% from 2012 to 2021, respectively.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported inulin in GCC, comprising 77% of total imports. The second position in the ranking was taken by Qatar ($X), with an 8.5% share of total imports. It was followed by Kuwait, with an 8.1% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates stood at +15.4%. In the other countries, the average annual rates were as follows: Qatar (+4.2% per year) and Kuwait (-16.5% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, increasing by 45% against the previous year. Overall, the import price showed prominent growth. The most prominent rate of growth was recorded in 2014 when the import price increased by 84%. Over the period under review, import prices hit record highs in 2021 and is likely to see gradual growth in the near future.

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 Qatar ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform