GCC: Prepared Mustard Market 2024

Prepared Mustard Market Size in GCC

In 2021, the GCC prepared mustard market decreased by -11.9% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption, however, enjoyed a strong increase. The level of consumption peaked at $X in 2020, and then dropped in the following year.

Prepared Mustard Production in GCC

In value terms, prepared mustard production reduced to $X in 2021 estimated in export price. Over the period under review, production, however, saw a strong increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 62%. Over the period under review, production reached the peak level at $X in 2020, and then reduced in the following year.

Prepared Mustard Exports

Exports in GCC

In 2021, approx. X tons of prepared mustard were exported in GCC; increasing by 89% on 2020 figures. Over the period under review, exports posted a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, prepared mustard exports surged to $X in 2021. Overall, exports saw resilient growth. The pace of growth was the most pronounced in 2017 when exports increased by 105% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

The United Arab Emirates prevails in exports structure, resulting at X tons, which was approx. 91% of total exports in 2021. It was distantly followed by Oman (X tons), generating an 8.1% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the prepared mustard exports, with a CAGR of +12.6% from 2012 to 2021. At the same time, Oman (+4.1%) displayed positive paces of growth. While the share of the United Arab Emirates (+8.5 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Oman (-6.8 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest prepared mustard supplier in GCC, comprising 90% of total exports. The second position in the ranking was taken by Oman ($X), with an 8.3% share of total exports.

In the United Arab Emirates, prepared mustard exports expanded at an average annual rate of +19.1% over the period from 2012-2021.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, falling by -10% against the previous year. Export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, prepared mustard export price decreased by -18.6% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the export price increased by 32% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.8%).

Prepared Mustard Imports

Imports in GCC

After two years of growth, overseas purchases of prepared mustard decreased by -13.2% to X tons in 2021. In general, imports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2019 with an increase of 78%. Over the period under review, imports attained the peak figure at X tons in 2020, and then dropped in the following year.

In value terms, prepared mustard imports shrank to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +74.8% against 2016 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 55%. Over the period under review, imports hit record highs at $X in 2020, and then fell modestly in the following year.

Imports by Country

The United Arab Emirates dominates imports structure, finishing at X tons, which was approx. 80% of total imports in 2021. It was distantly followed by Kuwait (X tons) and Oman (X tons), together achieving a 16% share of total imports. The following importers - Bahrain (X tons) and Qatar (X tons) - each finished at a 4.1% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to prepared mustard imports into the United Arab Emirates stood at +11.9%. At the same time, Qatar (+18.0%), Oman (+8.3%) and Kuwait (+6.6%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +18.0% from 2012-2021. Bahrain experienced a relatively flat trend pattern. The United Arab Emirates (+35 p.p.) and Oman (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Bahrain saw its share reduced by -1.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported prepared mustard in GCC, comprising 75% of total imports. The second position in the ranking was taken by Kuwait ($X), with an 11% share of total imports. It was followed by Oman, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates stood at +10.1%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+13.4% per year) and Oman (+14.0% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, growing by 10% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2013 when the import price increased by 23%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, 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 Qatar ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+6.4%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform