MENA: Biological Product Market 2024

Biological Product Market Size in MENA

The MENA's biological product market fell markedly to $X in 2022, which is down by X% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X, and then declined markedly in the following year.

Biological Product Production in MENA

In value terms, biological product production reduced to $X in 2022 estimated in export price. In general, production recorded a mild shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Biological Product Exports

Exports in MENA

In 2022, after two years of growth, there was significant decline in overseas shipments of biological products, when their volume decreased by X% to X tons. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped remarkably in the following year.

In value terms, biological product exports contracted to $X in 2022. In general, exports, however, showed a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey was the main exporter of biological products in MENA, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Iran (X tons) and the United Arab Emirates (X tons), together creating a X% share of total exports. The following exporters - Saudi Arabia (X tons) and Israel (X tons) - together made up X% of total exports.

Exports from Turkey decreased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%), Iran (X%), Israel (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. Iran (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest biological product supplier in MENA, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Iran, with a X% share.

In Turkey, biological product exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Iran (X% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, growing by X% against the previous year. In general, the export price enjoyed prominent growth. The growth pace was the most rapid in 2013 an increase of X%. The level of export peaked in 2022 and is expected to retain growth in years to come.

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 Israel ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Biological Product Imports

Imports in MENA

In 2022, biological product imports in MENA declined rapidly to X tons, shrinking by X% on 2021. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, biological product imports dropped rapidly to $X in 2022. In general, imports, however, posted a prominent increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then shrank sharply in the following year.

Imports by Country

The countries with the highest levels of biological product imports in 2022 were Turkey (X tons), Saudi Arabia (X tons), Iraq (X tons), Algeria (X tons), Iran (X tons), Syrian Arab Republic (X tons), the United Arab Emirates (X tons), Libya (X tons), Oman (X tons), Yemen (X tons), Qatar (X tons) and Kuwait (X tons), together recording X% of total import.

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

In value terms, the largest biological product importing markets in MENA were Turkey ($X), Saudi Arabia ($X) and Algeria ($X), with a combined X% share of total imports. The United Arab Emirates, Iraq, Kuwait, Iran, Oman, Qatar, Libya, Syrian Arab Republic and Yemen lagged somewhat behind, together accounting for a further X%.

Qatar, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, biological product import price increased by X% against 2016 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Kuwait ($X,451 per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform