GCC: Potato Chips Market 2024

Potato Chips Market Size in GCC

The GCC potato chips market dropped modestly to $X in 2022, remaining stable against the previous year. The total consumption indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.1% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Potato Chips Production in GCC

In value terms, potato chips production reduced modestly to $X in 2022 estimated in export price. In general, production enjoyed a tangible expansion. The growth pace was the most rapid in 2015 with an increase of 42%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Potato Chips Exports

Exports in GCC

In 2022, shipments abroad of potato chips was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 403% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, potato chips exports dropped to $X in 2022. In general, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 220%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) prevails in exports structure, together creating 96% of total exports. Oman (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +28.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest potato chips supplying countries in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X), together accounting for 99% of total exports.

The United Arab Emirates, with a CAGR of +29.3%, recorded the highest growth rate of the value of exports, in terms of 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, which is down by -13.4% against the previous year. Export price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potato chips export price increased by +11.2% against 2020 indices. The pace of growth appeared the most rapid in 2018 an increase of 77% against the previous year. The level of export peaked at $X per ton in 2021, and then fell in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+13.6%), while the other leaders experienced mixed trends in the export price figures.

Potato Chips Imports

Imports in GCC

Potato chips imports surged to X tons in 2022, with an increase of 16% on 2021. Overall, imports recorded a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of 44% against the previous year. Over the period under review, imports reached the maximum at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, potato chips imports rose slightly to $X in 2022. In general, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of 49% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the main importer of potato chips in GCC, with the volume of imports resulting at X tons, which was near 70% of total imports in 2022. Kuwait (X tons) took a 12% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (8.6%) and Saudi Arabia (4.7%). The following importers - Oman (X tons) and Bahrain (X tons) - each accounted for a 4.2% share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +5.7% from 2012 to 2022. At the same time, Qatar (+8.5%), Kuwait (+8.3%) and Saudi Arabia (+1.3%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +8.5% from 2012-2022. Bahrain experienced a relatively flat trend pattern. By contrast, Oman (-7.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia, Kuwait and Qatar increased by +4.7, +2.5 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported potato chips in GCC, comprising 69% of total imports. The second position in the ranking was held by Kuwait ($X), with a 13% share of total imports. It was followed by Qatar, with a 9.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates totaled +9.8%. In the other countries, the average annual rates were as follows: Kuwait (+14.2% per year) and Qatar (+23.3% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, shrinking by -11.2% against the previous year. Import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, potato chips import price increased by +69.2% against 2013 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by 32%. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then declined in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Bahrain ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+13.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform