GCC: Sweet Biscuit Market 2024

Sweet Biscuit Market Size in GCC

The GCC sweet biscuit market expanded markedly to $X in 2021, growing by 14% against the previous year. The market value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Sweet Biscuit Production in GCC

In value terms, sweet biscuit production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. Over the period under review, production attained the peak level at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Sweet Biscuit Exports

Exports in GCC

In 2021, exports of sweet biscuits in GCC declined to X tons, waning by -14.6% compared with 2020. Overall, exports recorded a pronounced contraction. The pace of growth appeared the most rapid in 2014 with an increase of 28% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, sweet biscuit exports fell to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 21% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Saudi Arabia (X tons), the United Arab Emirates (X tons) and Oman (X tons), together recording 98% of total export.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +1.7%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest sweet biscuit supplying countries in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X), together comprising 97% of total exports.

Oman, with a CAGR of +1.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries 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 ton, growing by 1.9% against the previous year. Export price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sweet biscuit export price decreased by -1.3% against 2017 indices. The pace of growth was the most pronounced in 2015 when the export price increased by 42%. Over the period under review, the export prices reached the peak figure at $X per ton in 2017; afterwards, it flattened through to 2021.

Average prices varied noticeably amongst the major exporting countries. In 2021, 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 the United Arab Emirates (+6.6%), while the other leaders experienced more modest paces of growth.

Sweet Biscuit Imports

Imports in GCC

In 2021, after three years of growth, there was significant decline in supplies from abroad of sweet biscuits, when their volume decreased by -7.6% to X tons. The total import volume increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 when imports increased by 18%. Over the period under review, imports attained the maximum at X tons in 2020, and then fell in the following year.

In value terms, sweet biscuit imports declined slightly to $X in 2021. The total import value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when imports increased by 14%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) represented roughly 67% of total imports in 2021. Oman (X tons) ranks next in terms of the total imports with a 14% share, followed by Kuwait (8.6%) and Qatar (6.8%). Bahrain (X tons) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Oman (with a CAGR of +14.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) constituted the countries with the highest levels of imports in 2021, with a combined 80% share of total imports. Oman, Qatar and Bahrain lagged somewhat behind, together accounting for a further 20%.

In terms of the main importing countries, Oman, with a CAGR of +11.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, with an increase of 5.3% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 6%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Kuwait ($X per ton), while Oman ($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 (+2.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform