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GCC - Refined Soybean Oil and Its Fractions - Market Analysis, Forecast, Size, Trends and Insights
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View PricingGCC: Refined Soybean Oil Market 2025
Refined Soybean Oil Market Size in GCC
The GCC refined soybean oil market dropped to $X in 2022, declining by -4.7% against the previous year. Over the period under review, consumption continues to indicate a noticeable reduction. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.
Refined Soybean Oil Production in GCC
In value terms, refined soybean oil production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a deep downturn. The pace of growth appeared the most rapid in 2013 when the production volume increased by 19% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.
Refined Soybean Oil Exports
Exports in GCC
In 2022, the amount of refined soybean oil and its fractions exported in GCC dropped to X tons, shrinking by -14.1% on the previous year's figure. Total exports indicated modest growth from 2012 to 2022: its volume increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +63.5% against 2018 indices. The pace of growth appeared the most rapid in 2019 when exports increased by 79% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.
In value terms, refined soybean oil exports fell rapidly to $X in 2022. In general, exports saw a mild setback. The pace of growth appeared the most rapid in 2021 when exports increased by 70% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.
Exports by Country
In 2022, the United Arab Emirates (X tons) was the largest exporter of refined soybean oil and its fractions, mixing up 66% of total exports. It was distantly followed by Saudi Arabia (X tons), constituting a 32% share of total exports. Kuwait (X tons) followed a long way behind the leaders.
The United Arab Emirates was also the fastest-growing in terms of the refined soybean oil and its fractions exports, with a CAGR of +3.5% from 2012 to 2022. Saudi Arabia experienced a relatively flat trend pattern. Kuwait (-13.1%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+11 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (-5.4 p.p.) and Kuwait (-5.8 p.p.) displayed negative dynamics.
In value terms, the United Arab Emirates ($X) remains the largest refined soybean oil supplier in GCC, comprising 68% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 30% share of total exports.
From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates was relatively modest. In the other countries, the average annual rates were as follows: Saudi Arabia (-2.1% per year) and Kuwait (-16.3% per year).
Export Prices by Country
In 2022, the export price in GCC amounted to $X per ton, waning by -7.6% against the previous year. Overall, the export price recorded a perceptible reduction. The pace of growth was the most pronounced in 2021 an increase of 22% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.
Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-2.2%), while the other leaders experienced a decline in the export price figures.
Refined Soybean Oil Imports
Imports in GCC
Refined soybean oil imports contracted to X tons in 2022, waning by -6.9% compared with the previous year's figure. Total imports indicated measured growth from 2012 to 2022: its volume increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +60.7% against 2017 indices. The growth pace was the most rapid in 2019 with an increase of 62%. The volume of import peaked at X tons in 2021, and then dropped in the following year.
In value terms, refined soybean oil imports shrank to $X in 2022. Total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +87.4% against 2017 indices. The growth pace was the most rapid in 2021 when imports increased by 56% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.
Imports by Country
The countries with the highest levels of refined soybean oil imports in 2022 were Oman (X tons), the United Arab Emirates (X tons) and Kuwait (X tons), together amounting to 81% of total import. Saudi Arabia (X tons) held the next position in the ranking, followed by Bahrain (X tons). All these countries together took approx. 17% share of total imports. Qatar (X tons) held a little share of total imports.
From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +36.5%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, the United Arab Emirates ($X), Oman ($X) and Kuwait ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 74% share of total imports. Saudi Arabia, Bahrain and Qatar lagged somewhat behind, together comprising a further 26%.
Qatar, with a CAGR of +38.8%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Import Prices by Country
In 2022, the import price in GCC amounted to $X per ton, waning by -5% against the previous year. Over the period under review, the import price showed a slight contraction. The most prominent rate of growth was recorded in 2021 when the import price increased by 28%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($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 Bahrain (+2.0%), while the other leaders experienced mixed trends in the import price figures.
Source: IndexBox Platform
This report provides an in-depth analysis of the refined soybean oil market in GCC. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 10415100 - Refined soya-bean oil and its fractions (excluding chemically modified)
Country coverage:
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in GCC, split by region and country
- Trade (exports and imports) in GCC
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
-
3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2024
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2024
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Bahrain
- Kuwait
- Oman
- Qatar
- Saudi Arabia
- United Arab Emirates
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LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption, By Country, 2018–2024
- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Destination, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Origin, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Consumption, By Country, 2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Production, By Country, 2024
- Production, In Physical Terms, By Country, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, 2012–2024
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