GCC: Sugary Soft Drink Market 2024

Sugary Soft Drink Market Size in GCC

The GCC sugary soft drink market fell slightly to $X in 2022, remaining stable against the previous year. The total consumption indicated a slight increase from 2012 to 2022: its value 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, consumption increased by +61.7% against 2018 indices. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Sugary Soft Drink Production in GCC

In value terms, sugary soft drink production dropped modestly to $X in 2022 estimated in export price. The total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 65%. The level of production peaked at $X in 2015; however, from 2016 to 2022, production stood at a somewhat lower figure.

Sugary Soft Drink Exports

Exports in GCC

In 2022, approx. X litres of sugary soft drinks were exported in GCC; growing by 12% on the previous year. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 46% against the previous year. As a result, the exports reached the peak of X litres. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, sugary soft drink exports expanded to $X in 2022. The total export value increased at an average annual rate of +2.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 51%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Saudi Arabia (X litres) and the United Arab Emirates (X litres) were the major exporters of sugary soft drinks in GCC, together resulting at approx. 71% of total exports. Kuwait (X litres) took a 20% share (based on physical terms) of total exports, which put it in second place, followed by Oman (7.7%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Kuwait (with a CAGR of +32.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest sugary soft drink supplying countries in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined 90% share of total exports.

Among the main exporting countries, Kuwait, with a CAGR of +32.0%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per litre, waning by -7.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2015 when the export price increased by 17% against the previous year. Over the period under review, the export prices reached the peak figure at $X per litre in 2021, and then shrank in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Oman ($X per litre) and Saudi Arabia ($X per litre), while Kuwait ($X per litre) and the United Arab Emirates ($X per litre) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.4%), while the other leaders experienced mixed trends in the export price figures.

Sugary Soft Drink Imports

Imports in GCC

After two years of growth, purchases abroad of sugary soft drinks decreased by -0.4% to X litres in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 25% against the previous year. The volume of import peaked at X litres in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, sugary soft drink imports fell to $X in 2022. The total import value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by 19%. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X litres) represented the major importer of sugary soft drinks, generating 41% of total imports. Kuwait (X litres) held the second position in the ranking, followed by Oman (X litres) and Qatar (X litres). All these countries together held approx. 55% share of total imports. Bahrain (X litres) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +6.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sugary soft drink importing markets in GCC were the United Arab Emirates ($X), Kuwait ($X) and Oman ($X), together comprising 64% of total imports.

Kuwait, with a CAGR of +5.8%, saw the highest growth rate of the value of imports, in terms of 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

In 2022, the import price in GCC amounted to $X per litre, approximately mirroring the previous year. Import price indicated a pronounced expansion 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, sugary soft drink import price decreased by -0.1% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the import price increased by 23%. Over the period under review, import prices reached the maximum at $X per litre in 2020; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+8.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform