GCC: Market for Manufactured Tobacco, Extracts And Essences 2024

Market Size for Manufactured Tobacco, Extracts And Essences in GCC

The GCC market for manufactured tobacco, extracts and essences was finally on the rise to reach $X in 2021, after two years of decline. The total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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.

Production of Manufactured Tobacco, Extracts And Essences in GCC

In value terms, manufactured tobacco, extracts and essences production reached $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 27% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2021, production remained at a lower figure.

Exports of Manufactured Tobacco, Extracts And Essences

Exports in GCC

In 2021, approx. X tons of manufactured tobacco, extracts and essences were exported in GCC; jumping by 49% against the year before. Over the period under review, exports recorded a buoyant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 635% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, manufactured tobacco, extracts and essences exports surged to $X in 2021. In general, exports saw a strong expansion. The growth pace was the most rapid in 2015 when exports increased by 230% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, amounting to X tons, which was near 93% of total exports in 2021. It was distantly followed by Oman (X tons), committing a 6.2% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to manufactured tobacco, extracts and essences exports from the United Arab Emirates stood at +13.7%. At the same time, Oman (+20.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +20.1% from 2012-2021. While the share of the United Arab Emirates (+2.8 p.p.) and Oman (+2.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest manufactured tobacco, extracts and essences supplier in GCC, comprising 95% of total exports. The second position in the ranking was held by Oman ($X), with a 4.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates stood at +13.2%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 40%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

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 the United Arab Emirates ($X per ton), while Oman totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-0.4%).

Imports of Manufactured Tobacco, Extracts And Essences

Imports in GCC

In 2021, overseas purchases of manufactured tobacco, extracts and essences were finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. In general, imports, however, showed a noticeable contraction. The pace of growth was the most pronounced in 2015 with an increase of 36%. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, manufactured tobacco, extracts and essences imports soared to $X in 2021. Total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of 48%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Imports by Country

The United Arab Emirates dominates imports structure, reaching X tons, which was approx. 90% of total imports in 2021. It was distantly followed by Saudi Arabia (X tons), comprising a 7.9% share of total imports. Kuwait (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the manufactured tobacco, extracts and essences imports, with a CAGR of +5.8% from 2012 to 2021. Kuwait (-4.4%) and Saudi Arabia (-24.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United Arab Emirates increased by +55 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported manufactured tobacco, extracts and essences in GCC, comprising 90% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 5.6% share of total imports.

In the United Arab Emirates, manufactured tobacco, extracts and essences imports increased at an average annual rate of +10.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (-10.2% per year) and Kuwait (+2.1% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, rising by 1.9% against the previous year. Overall, the import price enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2016 when the import price increased by 38%. The level of import peaked in 2021 and is likely to see steady growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+18.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform