GCC: Potato Starch Market 2024

Potato Starch Market Size in GCC

In 2021, after three years of decline, there was significant growth in the GCC potato starch market, when its value increased by 8.8% to $X. The total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% 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 -28.6% against 2017 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Potato Starch Production in GCC

In value terms, potato starch production rose significantly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a buoyant expansion. The growth pace was the most rapid in 2017 with an increase of 80%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Potato Starch Exports

Exports in GCC

In 2021, potato starch exports in GCC fell slightly to X tons, reducing by -2.6% on the year before. Over the period under review, exports recorded a deep setback. The most prominent rate of growth was recorded in 2017 with an increase of 583%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, potato starch exports declined dramatically to $X in 2021. Overall, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2017 with an increase of 650% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) dominates exports structure, together comprising 96% of total exports. Kuwait (X tons) took a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Kuwait (with a CAGR of +5.3%), while the other leaders experienced a decline in the exports figures.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X) appeared to be the countries with the highest levels of exports in 2021.

Kuwait, with a CAGR of -4.9%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, shrinking by -15.1% against the previous year. Overall, the export price, however, showed a moderate expansion. The pace of growth was the most pronounced in 2014 when the export price increased by 76%. The level of export peaked at $X per ton in 2019; however, from 2020 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 ($X per ton), while Saudi Arabia ($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 (+3.9%), while the other leaders experienced mixed trends in the export price figures.

Potato Starch Imports

Imports in GCC

In 2021, purchases abroad of potato starch decreased by -2.8% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when imports increased by 97%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, potato starch imports reduced rapidly to $X in 2021. Overall, imports showed a mild decline. The most prominent rate of growth was recorded in 2019 when imports increased by 62%. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Saudi Arabia represented the largest importer of potato starch in GCC, with the volume of imports accounting for X tons, which was near 58% of total imports in 2021. Bahrain (X tons) ranks second in terms of the total imports with a 27% share, followed by the United Arab Emirates (9.4%). Oman (X tons) and Qatar (X tons) took a relatively small share of total imports.

Imports into Saudi Arabia increased at an average annual rate of +2.0% from 2012 to 2021. At the same time, Qatar (+225.0%), Oman (+47.4%) and Bahrain (+1.7%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +225.0% from 2012-2021. By contrast, the United Arab Emirates (-11.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Saudi Arabia, Bahrain, Oman and Qatar increased by +8.8, +3.5, +3.2 and +2 percentage points, respectively.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported potato starch in GCC, comprising 61% of total imports. The second position in the ranking was taken by Bahrain ($X), with a 19% share of total imports. It was followed by the United Arab Emirates, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Saudi Arabia amounted to -1.1%. The remaining importing countries recorded the following average annual rates of imports growth: Bahrain (-6.1% per year) and the United Arab Emirates (-2.5% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, shrinking by -19.1% against the previous year. Overall, the import price continues to indicate a slight downturn. The pace of growth was the most pronounced in 2019 an increase of 22%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Bahrain ($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 (+9.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform