GCC: Malt Market 2024

Malt Market Size in GCC

The GCC malt market expanded markedly to $X in 2021, surging by 5.6% against the previous year. The total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -5.0% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Malt Production in GCC

In value terms, malt production totaled $X in 2021 estimated in export price. The total production indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -8.4% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 41% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Malt Exports

Exports in GCC

In 2021, overseas shipments of malt (not roasted) increased by 47% to X tons, rising for the third consecutive year after two years of decline. Overall, exports showed a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 85,208% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, malt exports surged to $X in 2021. In general, exports enjoyed a significant expansion. The growth pace was the most rapid in 2016 when exports increased by 31,661% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, the United Arab Emirates (X tons) represented the largest exporter of malt (not roasted), constituting 82% of total exports. It was distantly followed by Kuwait (X tons), committing an 18% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +17.3% from 2012 to 2021. At the same time, Kuwait (+35.0%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +35.0% from 2012-2021. While the share of Kuwait (+12 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-12.4 p.p.) displayed negative dynamics.

In value terms, Kuwait ($X) emerged as the largest malt supplier in GCC, comprising 73% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 27% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Kuwait amounted to +61.8%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, picking up by 112% against the previous year. Over the period under review, the export price posted a buoyant expansion. The most prominent rate of growth was recorded in 2015 when the export price increased by 166%. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the United Arab Emirates totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+19.8%).

Malt Imports

Imports in GCC

In 2021, overseas purchases of malt (not roasted) were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2017 with an increase of 287% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, malt imports soared to $X in 2021. Over the period under review, imports, however, saw a slight decline. The most prominent rate of growth was recorded in 2017 when imports increased by 427%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the largest importer of malt (not roasted) in GCC, with the volume of imports accounting for X tons, which was near 66% of total imports in 2021. Saudi Arabia (X tons) took a 23% share (based on physical terms) of total imports, which put it in second place, followed by Bahrain (7.2%). Kuwait (X tons) held a little share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +12.0% from 2012 to 2021. At the same time, Kuwait (+40.8%) and Bahrain (+26.7%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of +40.8% from 2012-2021. By contrast, Saudi Arabia (-15.6%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+47 p.p.), Bahrain (+6.5 p.p.) and Kuwait (+3.7 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Saudi Arabia (-58.2 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported malt (not roasted) in GCC, comprising 66% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 24% share of total imports. It was followed by Bahrain, with a 4.6% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates stood at +16.4%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (-13.9% per year) and Bahrain (+25.4% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, with an increase of 18% against the previous year. Import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, malt import price increased by +49.1% against 2019 indices. The pace of growth was the most pronounced in 2017 an increase of 36%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a 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 Saudi Arabia ($X per ton), while Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform