GCC: Wheat Starch Market 2024

Wheat Starch Market Size in GCC

After four years of growth, the GCC wheat starch market decreased by -10.9% to $X in 2021. Overall, consumption, however, showed buoyant growth. Over the period under review, the market attained the maximum level at $X in 2020, and then shrank in the following year.

Wheat Starch Production in GCC

In value terms, wheat starch production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed a resilient increase. The growth pace was the most rapid in 2015 with an increase of 48%. The level of production peaked at $X in 2020, and then declined in the following year.

Wheat Starch Exports

Exports in GCC

In 2021, shipments abroad of wheat starch decreased by -7.1% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, exports, however, enjoyed notable growth. The growth pace was the most rapid in 2017 when exports increased by 233% against the previous year. The volume of export peaked at X tons in 2020, and then declined in the following year.

In value terms, wheat starch exports soared to $X in 2021. In general, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 340%. The level of export peaked in 2021 and is likely to see steady growth in the immediate term.

Exports by Country

The United Arab Emirates was the main exporter of wheat starch in GCC, with the volume of exports finishing at X tons, which was near 67% of total exports in 2021. It was distantly followed by Oman (X tons), generating a 31% share of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of -1.6% from 2012 to 2021. At the same time, Oman (+39.7%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +39.7% from 2012-2021. From 2012 to 2021, the share of Oman increased by +29 percentage points.

In value terms, the United Arab Emirates ($X) and Oman ($X) appeared to be the countries with the highest levels of exports in 2021.

Oman, with a CAGR of +48.8%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, growing by 27% against the previous year. Export price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wheat starch export price increased by +128.9% against 2017 indices. The pace of growth was the most pronounced in 2015 an increase of 57%. As a result, the export price attained the peak level of $X per ton; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+6.5%).

Wheat Starch Imports

Imports in GCC

After three years of growth, overseas purchases of wheat starch decreased by -16% to X tons in 2021. Overall, imports saw a deep contraction. The pace of growth was the most pronounced in 2014 when imports increased by 40% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, wheat starch imports shrank to $X in 2021. Over the period under review, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2020 when imports increased by 74%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) was the main importer of wheat starch, comprising 57% of total imports. It was distantly followed by Oman (X tons) and Kuwait (X tons), together mixing up a 39% share of total imports. Qatar (X tons) held a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Oman (with a CAGR of +39.2%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported wheat starch in GCC, comprising 56% of total imports. The second position in the ranking was held by Oman ($X), with a 28% share of total imports. It was followed by Kuwait, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates amounted to -3.3%. In the other countries, the average annual rates were as follows: Oman (+51.1% per year) and Kuwait (-2.4% per year).

Import Prices by Country

In 2021, the import price in GCC amounted to $X per ton, increasing by 4.8% against the previous year. Over the period under review, the import price continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2020 when the import price increased by 57%. Over the period under review, import prices attained the maximum in 2021 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Kuwait ($X per ton) and Qatar ($X per ton), while Oman ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+8.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform