GCC: Vegetable Puree Market 2024

Vegetable Puree Market Size in GCC

In 2022, the GCC vegetable puree market increased by 16% to $X for the first time since 2016, thus ending a five-year declining trend. In general, consumption saw a noticeable curtailment. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Vegetable Puree Production in GCC

In value terms, vegetable puree production contracted modestly to $X in 2022 estimated in export price. The total production indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.5% against 2020 indices. The pace of growth appeared the most rapid in 2016 with an increase of 38% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Vegetable Puree Exports

Exports in GCC

In 2022, approx. X tons of vegetable puree were exported in GCC; rising by 60% against 2021. Over the period under review, exports saw a prominent increase. The pace of growth was the most pronounced in 2018 when exports increased by 138% against the previous year. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, vegetable puree exports surged to $X in 2022. Overall, exports posted a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of 213% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia represented the largest exporting country with an export of about X tons, which reached 74% of total exports. The United Arab Emirates (X tons) held a 20% share (based on physical terms) of total exports, which put it in second place, followed by Oman (6%).

Saudi Arabia was also the fastest-growing in terms of the vegetable puree exports, with a CAGR of +19.6% from 2012 to 2022. The United Arab Emirates experienced a relatively flat trend pattern. Oman (-3.2%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia increased by +45 percentage points.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Oman ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising 100% of total exports.

Among the main exporting countries, Saudi Arabia, with a CAGR of +23.1%, saw 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

The export price in GCC stood at $X per ton in 2022, picking up by 11% against the previous year. Overall, the export price, however, recorded a pronounced setback. The most prominent rate of growth was recorded in 2014 when the export price increased by 55%. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+6.7%), while the other leaders experienced mixed trends in the export price figures.

Vegetable Puree Imports

Imports in GCC

In 2022, after two years of decline, there was significant growth in supplies from abroad of vegetable puree, when their volume increased by 24% to X tons. Over the period under review, imports, however, saw a pronounced decline. The pace of growth was the most pronounced in 2013 with an increase of 65% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, vegetable puree imports surged to $X in 2022. Overall, imports, however, saw a perceptible contraction. The most prominent rate of growth was recorded in 2013 when imports increased by 157%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons) and Kuwait (X tons) represented roughly 85% of total imports in 2022. It was distantly followed by Oman (X tons), creating a 13% share of total imports. Bahrain (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kuwait (with a CAGR of +13.5%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Kuwait ($X), the United Arab Emirates ($X) and Oman ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 93% of total imports.

Kuwait, with a CAGR of +18.1%, 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

In 2022, the import price in GCC amounted to $X per ton, rising by 23% against the previous year. Overall, the import price, however, saw a slight descent. The pace of growth was the most pronounced in 2013 an increase of 56% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 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 Bahrain ($X per ton), while Oman ($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 (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform