GCC: Wheat Gluten Market 2024

Wheat Gluten Market Size in GCC

The GCC wheat gluten market dropped to $X in 2022, which is down by -6.8% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.4% 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 +9.4% against 2020 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Wheat Gluten Production in GCC

In value terms, wheat gluten production amounted to $X in 2022 estimated in export price. In general, production showed a sharp curtailment. The pace of growth appeared the most rapid in 2016 when the production volume increased by 3,688,900%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Wheat Gluten Exports

Exports in GCC

In 2022, after three years of growth, there was decline in overseas shipments of wheat gluten, when their volume decreased by -0.6% to X tons. Over the period under review, exports, however, enjoyed a strong increase. The growth pace was the most rapid in 2017 when exports increased by 119% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wheat gluten exports reduced dramatically to $X in 2022. Overall, exports, however, posted buoyant growth. The growth pace was the most rapid in 2019 with an increase of 140% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates was the main exporter of wheat gluten in GCC, with the volume of exports resulting at X tons, which was approx. 87% of total exports in 2022. It was distantly followed by Oman (X tons), constituting a 13% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the wheat gluten exports, with a CAGR of +51.3% from 2012 to 2022. Oman (-12.5%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+84 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Oman (-84.1 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest wheat gluten supplier in GCC, comprising 82% of total exports. The second position in the ranking was taken by Oman ($X), with an 18% share of total exports.

In the United Arab Emirates, wheat gluten exports expanded at an average annual rate of +44.6% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, falling by -18.1% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 35% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced markedly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+3.9%).

Wheat Gluten Imports

Imports in GCC

Wheat gluten imports reduced modestly to X tons in 2022, falling by -4.5% on the year before. Total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -8.2% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 20% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, wheat gluten imports declined to $X in 2022. Total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +8.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +11.9% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 34%. Over the period under review, imports hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

Saudi Arabia represented the major importing country with an import of around X tons, which resulted at 76% of total imports. It was distantly followed by the United Arab Emirates (X tons), mixing up a 12% share of total imports. Kuwait (X tons), Qatar (X tons) and Oman (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to wheat gluten imports into Saudi Arabia stood at +5.4%. At the same time, Oman (+31.2%), Qatar (+20.6%), the United Arab Emirates (+12.4%) and Kuwait (+1.5%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +31.2% from 2012-2022. The United Arab Emirates (+5.3 p.p.), Oman (+2.8 p.p.) and Qatar (+2.3 p.p.) significantly strengthened its position in terms of the total imports, while Kuwait and Saudi Arabia saw its share reduced by -2.7% and -7.5% from 2012 to 2022, respectively.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported wheat gluten in GCC, comprising 76% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by Qatar, with a 4.5% share.

In Saudi Arabia, wheat gluten imports expanded at an average annual rate of +7.1% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+14.8% per year) and Qatar (+23.3% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, with a decrease of -2.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The growth pace was the most rapid in 2021 an increase of 12%. The level of import peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood 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 ($X per ton), while Kuwait ($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 (+5.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform