GCC: Malt Market 2024

Malt Market Size in GCC

The GCC malt market amounted to $X in 2022, flattening at the previous year. Over the period under review, consumption, however, showed a mild descent. The pace of growth appeared the most rapid in 2017 when the market value increased by 6.4% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Malt Production in GCC

In value terms, malt production totaled $X in 2022 estimated in export price. Overall, production, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2017 with an increase of 6.1% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Malt Exports

Exports in GCC

In 2022, malt exports in GCC stood at X tons, therefore, remained relatively stable against the previous year. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 244%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, malt exports reached $X in 2022. In general, exports continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 103% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Oman was the main exporter of malt in GCC, with the volume of exports amounting to X tons, which was approx. 59% of total exports in 2022. The United Arab Emirates (X tons) took a 22% share (based on physical terms) of total exports, which put it in second place, followed by Kuwait (15%) and Saudi Arabia (5.1%).

Exports from Oman increased at an average annual rate of +60.5% from 2012 to 2022. At the same time, Saudi Arabia (+65.7%), Kuwait (+58.1%) and the United Arab Emirates (+24.6%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +65.7% from 2012-2022. While the share of Oman (+42 p.p.), Kuwait (+9.8 p.p.) and Saudi Arabia (+4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-55.8 p.p.) displayed negative dynamics.

In value terms, Oman ($X), the United Arab Emirates ($X) and Kuwait ($X) constituted the countries with the highest levels of exports in 2022, with a combined 90% share of total exports. These countries were followed by Saudi Arabia, which accounted for a further 9.7%.

Saudi Arabia, with a CAGR of +47.3%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Overall, the export price showed a deep setback. The most prominent rate of growth was recorded in 2018 when the export price increased by 2.7% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: 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 Saudi Arabia (-11.1%), while the other leaders experienced a decline in the export price figures.

Malt Imports

Imports in GCC

For the sixth year in a row, GCC recorded growth in overseas purchases of malt, which increased by 1.1% to X tons in 2022. In general, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2015 with an increase of 396% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, malt imports totaled $X in 2022. Overall, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 203% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, the United Arab Emirates (X tons) and Saudi Arabia (X tons) represented the major importers of malt in GCC, together making up 74% of total imports. It was distantly followed by Qatar (X tons), mixing up an 18% share of total imports. Kuwait (X tons), Oman (X tons) and Bahrain (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Qatar (with a CAGR of +21.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X) constituted the countries with the highest levels of imports in 2022, together comprising 89% of total imports.

In terms of the main importing countries, Qatar, with a CAGR of +21.0%, recorded the highest rates of growth with regard to 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, flattening at the previous year. In general, the import price showed a mild reduction. The most prominent rate of growth was recorded in 2016 an increase of 99%. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+4.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform