GCC: Temporarily Preserved Vegetable Market 2024

Temporarily Preserved Vegetable Market Size in GCC

The GCC temporarily preserved vegetable market dropped to $X in 2022, which is down by -10.4% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Temporarily Preserved Vegetable Production in GCC

In value terms, temporarily preserved vegetable production totaled $X in 2022 estimated in export price. Overall, production, however, showed a abrupt downturn. The pace of growth appeared the most rapid in 2016 when the production volume increased by 180%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Temporarily Preserved Vegetable Exports

Exports in GCC

For the third consecutive year, GCC recorded growth in shipments abroad of vegetables (temporarily preserved), which increased by 5.5% to X tons in 2022. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 118%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, temporarily preserved vegetable exports contracted to $X in 2022. Overall, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 115%. As a result, the exports reached the peak of $X, and then fell in the following year.

Exports by Country

Saudi Arabia represented the major exporting country with an export of about X tons, which resulted at 67% of total exports. It was distantly followed by the United Arab Emirates (X tons), comprising a 33% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the vegetables (temporarily preserved) exports, with a CAGR of +40.0% from 2012 to 2022. At the same time, the United Arab Emirates (+14.5%) displayed positive paces of growth. Saudi Arabia (+49 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -31.1% from 2012 to 2022, respectively.

In value terms, the largest temporarily preserved vegetable supplying countries in GCC were the United Arab Emirates ($X) and Saudi Arabia ($X).

In terms of the main exporting countries, Saudi Arabia, with a CAGR of +26.3%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, declining by -11.8% against the previous year. Overall, the export price continues to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2017 an increase of 34% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.0%).

Temporarily Preserved Vegetable Imports

Imports in GCC

Temporarily preserved vegetable imports dropped sharply to X tons in 2022, falling by -68.4% on 2021. Overall, imports recorded a abrupt setback. The growth pace was the most rapid in 2014 with an increase of 172%. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, temporarily preserved vegetable imports dropped rapidly to $X in 2022. In general, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2014 when imports increased by 81%. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates represented the key importing country with an import of about X tons, which finished at 77% of total imports. It was distantly followed by Kuwait (X tons), achieving a 15% share of total imports. Bahrain (X tons), Qatar (X tons) and Oman (X tons) followed a long way behind the leaders.

Imports into the United Arab Emirates decreased at an average annual rate of -3.1% from 2012 to 2022. Kuwait (-1.5%), Bahrain (-3.2%), Oman (-9.6%) and Qatar (-17.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Kuwait and Bahrain increased by +35, +8.1 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported vegetables (temporarily preserved) in GCC, comprising 69% of total imports. The second position in the ranking was held by Kuwait ($X), with a 16% share of total imports. It was followed by Bahrain, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to -10.6%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (-6.2% per year) and Bahrain (+1.6% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with a decrease of -14% against the previous year. Overall, the import price showed a perceptible decrease. The most prominent rate of growth was recorded in 2015 an increase of 60%. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the import prices remained at a somewhat 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 ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform