Kuwait: Modified Starches Market 2024

Modified Starches Market Size in Kuwait

In 2022, the Kuwaiti modified starches market was finally on the rise to reach $X after three years of decline. In general, consumption saw a mild contraction. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Modified Starches Production in Kuwait

In value terms, modified starches production reached $X in 2022 estimated in export price. Over the period under review, production saw a deep slump. The most prominent rate of growth was recorded in 2018 when the production volume increased by 155%. Modified starches production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Modified Starches Exports

Exports from Kuwait

In 2022, exports of dextrins and other modified starches from Kuwait declined significantly to X tons, with a decrease of -38% compared with 2021 figures. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 2,240% against the previous year. The exports peaked at X tons in 2021, and then declined markedly in the following year.

In value terms, modified starches exports reduced sharply to $X in 2022. Overall, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 1,261%. The exports peaked at $X in 2021, and then fell rapidly in the following year.

Exports by Country

Qatar (X tons) was the main destination for modified starches exports from Kuwait, with a 67% share of total exports. Moreover, modified starches exports to Qatar exceeded the volume sent to the second major destination, Iraq (X tons), fivefold. The third position in this ranking was taken by the United Arab Emirates (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Qatar stood at +127.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+57.1% per year) and the United Arab Emirates (+159.9% per year).

In value terms, Qatar ($X) remains the key foreign market for dextrins and other modified starches exports from Kuwait, comprising 60% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 24% share of total exports. It was followed by Saudi Arabia, with an 8.2% share.

From 2012 to 2022, the average annual growth rate of value to Qatar totaled +77.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+116.4% per year) and Saudi Arabia (+43.8% per year).

Export Prices by Country

The average modified starches export price stood at $X per ton in 2022, falling by -3.5% against the previous year. Overall, the export price continues to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2016 when the average export price increased by 19% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (-3.0%), while the prices for the other major destinations experienced a decline.

Modified Starches Imports

Imports into Kuwait

Modified starches imports into Kuwait dropped to X tons in 2022, falling by -8.2% against the year before. Overall, imports, however, continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of 171% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, modified starches imports declined slightly to $X in 2022. Over the period under review, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +2.2% 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 +0.5% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 164%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

India (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main suppliers of modified starches imports to Kuwait, with a combined 85% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +53.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) constituted the largest modified starches suppliers to Kuwait, with a combined 79% share of total imports.

In terms of the main suppliers, Saudi Arabia, with a CAGR of +56.5%, recorded 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 2022, the average modified starches import price amounted to $X per ton, increasing by 8.4% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced reduction. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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