MENA: Modified Starches Market 2024

Modified Starches Market Size in MENA

The MENA's modified starches market fell to $X in 2022, remaining constant against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Modified Starches Production in MENA

In value terms, modified starches production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 28% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Modified Starches Exports

Exports in MENA

In 2022, exports of dextrins and other modified starches in MENA was estimated at X tons, growing by 13% compared with the previous year. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 53%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, modified starches exports surged to $X in 2022. Overall, exports saw buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey dominates exports structure, recording X tons, which was approx. 87% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), committing an 8.6% share of total exports. Saudi Arabia (X tons) held a minor share of total exports.

Turkey was also the fastest-growing in terms of the dextrins and other modified starches exports, with a CAGR of +32.5% from 2012 to 2022. At the same time, Saudi Arabia (+30.5%) and the United Arab Emirates (+6.1%) displayed positive paces of growth. Turkey (+53 p.p.) and Saudi Arabia (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -22.1% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest modified starches supplier in MENA, comprising 84% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total exports.

In Turkey, modified starches exports expanded at an average annual rate of +28.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+5.0% per year) and Saudi Arabia (+23.3% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per ton, with an increase of 24% against the previous year. Over the period under review, the export price, however, saw a perceptible setback. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a 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 the United Arab Emirates ($X per ton), while Saudi Arabia ($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 (-1.0%), while the other leaders experienced a decline in the export price figures.

Modified Starches Imports

Imports in MENA

In 2022, the amount of dextrins and other modified starches imported in MENA contracted to X tons, waning by -8.2% on the previous year. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 13% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined in the following year.

In value terms, modified starches imports stood at $X in 2022. The total import value increased at an average annual rate of +3.8% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when imports increased by 23% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

Turkey was the key importing country with an import of about X tons, which finished at 31% of total imports. Algeria (X tons) took a 15% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (9.2%), Saudi Arabia (9.1%), Morocco (6.5%), Tunisia (5.6%), Israel (5%) and Egypt (4.6%).

From 2012 to 2022, average annual rates of growth with regard to modified starches imports into Turkey stood at -4.2%. At the same time, Algeria (+18.4%), Tunisia (+7.9%), the United Arab Emirates (+7.1%), Israel (+6.7%), Morocco (+6.5%), Egypt (+3.9%) and Saudi Arabia (+2.5%) displayed positive paces of growth. Moreover, Algeria emerged as the fastest-growing importer imported in MENA, with a CAGR of +18.4% from 2012-2022. While the share of Algeria (+12 p.p.), the United Arab Emirates (+3.8 p.p.), Tunisia (+2.5 p.p.), Morocco (+2.5 p.p.) and Israel (+1.9 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Turkey (-24.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported dextrins and other modified starches in MENA, comprising 31% of total imports. The second position in the ranking was held by Algeria ($X), with a 13% share of total imports. It was followed by Morocco, with a 9.2% share.

In Turkey, modified starches imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Algeria (+12.3% per year) and Morocco (+7.5% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, rising by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Morocco ($X per ton), while Saudi Arabia ($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 (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform