GCC: Soft Drink Market 2024

Soft Drink Market Size in GCC

The GCC soft drink market contracted to $X in 2021, shrinking by -5.7% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +9.8% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then contracted in the following year.

Soft Drink Production in GCC

In value terms, soft drink production dropped to $X in 2021 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +8.4% against 2019 indices. The growth pace was the most rapid in 2015 when the production volume increased by 28% against the previous year. The level of production peaked at $X in 2020, and then fell in the following year.

Soft Drink Exports

Exports in GCC

In 2021, approx. X litres of soft drinks were exported in GCC; shrinking by -35.3% on 2020 figures. In general, exports showed a pronounced reduction. The most prominent rate of growth was recorded in 2017 with an increase of 28% against the previous year. The volume of export peaked at X litres in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, soft drink exports shrank rapidly to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 24% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia was the main exporter of soft drinks in GCC, with the volume of exports resulting at X litres, which was approx. 48% of total exports in 2021. The United Arab Emirates (X litres) held a 30% share (based on physical terms) of total exports, which put it in second place, followed by Kuwait (15%) and Oman (6.5%).

From 2012 to 2021, the biggest increases were in Kuwait (with a CAGR of +31.3%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest soft drink supplying countries in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined 93% share of total exports.

Among the main exporting countries, Kuwait, with a CAGR of +28.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per litre, growing by 2.5% against the previous year. Over the last nine years, it increased at an average annual rate of +4.4%. The most prominent rate of growth was recorded in 2013 an increase of 30%. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Saudi Arabia ($X per litre) and the United Arab Emirates ($X per litre), while Kuwait ($X per litre) and Oman ($X per litre) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.3%), while the other leaders experienced mixed trends in the export price figures.

Soft Drink Imports

Imports in GCC

In 2021, approx. X litres of soft drinks were imported in GCC; waning by -19.3% against 2020. Over the period under review, imports saw a slight decrease. The growth pace was the most rapid in 2020 with an increase of 20%. Over the period under review, imports hit record highs at X litres in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, soft drink imports dropped to $X in 2021. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 32%. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Saudi Arabia (X litres), distantly followed by the United Arab Emirates (X litres), Kuwait (X litres), Qatar (X litres) and Oman (X litres) represented the main importers of soft drinks, together making up 97% of total imports. Bahrain (X litres) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were in Saudi Arabia (with a CAGR of +1.5%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 83% of total imports.

Kuwait, with a CAGR of +10.1%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per litre in 2021, picking up by 17% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Kuwait ($X per litre), while Oman ($X per litre) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+10.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform