GCC: Food Manufacture Machinery Market 2024

Food Manufacture Machinery Market Size in GCC

In 2021, after three years of decline, there was significant growth in the GCC food manufacture machinery market, when its value increased by 14% to $X. In general, consumption saw a temperate expansion. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Food Manufacture Machinery Production in GCC

In value terms, food manufacture machinery production expanded markedly to $X in 2021 estimated in export price. Over the period under review, production saw a tangible expansion. The most prominent rate of growth was recorded in 2015 with an increase of 129%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Food Manufacture Machinery Exports

Exports in GCC

In 2021, food manufacture machinery exports in GCC surged to X units, growing by 77% compared with the year before. Overall, exports saw a prominent increase. The pace of growth appeared the most rapid in 2015 with an increase of 99%. Over the period under review, the exports hit record highs at X units in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, food manufacture machinery exports soared to $X in 2021. Over the period under review, exports showed a resilient increase. The pace of growth appeared the most rapid in 2015 when exports increased by 329% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, amounting to X units, which was near 89% of total exports in 2021. It was distantly followed by Oman (X units), generating a 9.8% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to food manufacture machinery exports from the United Arab Emirates stood at +16.0%. At the same time, Oman (+36.8%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +36.8% from 2012-2021. Oman (+7.7 p.p.) and the United Arab Emirates (+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 ($X) remains the largest food manufacture machinery supplier in GCC, comprising 87% of total exports. The second position in the ranking was held by Oman ($X), with a 10% share of total exports.

In the United Arab Emirates, food manufacture machinery exports increased at an average annual rate of +17.5% over the period from 2012-2021.

Export Prices by Country

The export price in GCC stood at $X per unit in 2021, jumping by 47% against the previous year. In general, the export price continues to indicate mild growth. The most prominent rate of growth was recorded in 2015 when the export price increased by 115% against the previous year. The level of export peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Oman ($X per unit), while the United Arab Emirates amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.3%).

Food Manufacture Machinery Imports

Imports in GCC

In 2021, after two years of decline, there was significant growth in overseas purchases of machinery for the preparation or manufacture of food or drink, when their volume increased by 24% to X units. In general, imports recorded a buoyant expansion. The growth pace was the most rapid in 2014 with an increase of 137%. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, food manufacture machinery imports skyrocketed to $X in 2021. Total imports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +49.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 when imports increased by 40% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X units) was the key importer of machinery for the preparation or manufacture of food or drink, comprising 45% of total imports. Oman (X units) took a 24% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (16%) and Kuwait (13%). Bahrain (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Qatar (with a CAGR of +36.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported machinery for the preparation or manufacture of food or drink in GCC, comprising 47% of total imports. The second position in the ranking was held by Kuwait ($X), with a 12% share of total imports. It was followed by Qatar, with a 9% share.

In the United Arab Emirates, food manufacture machinery imports expanded at an average annual rate of +6.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+14.8% per year) and Qatar (+20.3% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per unit, growing by 5.4% against the previous year. In general, the import price, however, recorded a abrupt descent. The growth pace was the most rapid in 2020 an increase of 16%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform