MENA: Fructose Market 2024

Fructose Market Size in MENA

The MENA's fructose market fell to $X in 2021, declining by -2.9% against the previous year. Over the period under review, consumption, however, continues to indicate a abrupt curtailment. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Fructose Production in MENA

In value terms, fructose production amounted to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2014 with an increase of 3% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Fructose Exports

Exports in MENA

In 2021, shipments abroad of fructose and fructose syrup increased by 141% to X tons, rising for the fifth consecutive year after two years of decline. Overall, exports posted a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fructose exports surged to $X in 2021. Over the period under review, exports showed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey prevails in exports structure, finishing at X tons, which was approx. 91% of total exports in 2021. It was distantly followed by Israel (X tons), constituting a 6.4% share of total exports.

Turkey was also the fastest-growing in terms of the fructose and fructose syrup exports, with a CAGR of +27.2% from 2012 to 2021. Israel (-5.0%) illustrated a downward trend over the same period. Turkey (+42 p.p.) significantly strengthened its position in terms of the total exports, while Israel saw its share reduced by -41.9% from 2012 to 2021, respectively.

In value terms, Turkey ($X) remains the largest fructose supplier in MENA, comprising 81% of total exports. The second position in the ranking was held by Israel ($X), with a 9.6% share of total exports.

In Turkey, fructose exports expanded at an average annual rate of +18.1% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, which is down by -14.9% against the previous year. Overall, the export price recorded a abrupt descent. The most prominent rate of growth was recorded in 2017 when the export price increased by 7.8% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Turkey totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (-4.2%).

Fructose Imports

Imports in MENA

In 2021, fructose imports in MENA expanded slightly to X tons, increasing by 2.2% against 2020. The total import volume increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when imports increased by 28% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, fructose imports reached $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +44.5% against 2016 indices. The pace of growth was the most pronounced in 2014 when imports increased by 25% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in years to come.

Imports by Country

The United Arab Emirates (X tons) and Turkey (X tons) represented the largest importers of fructose and fructose syrup in 2021, recording near 23% and 18% of total imports, respectively. Egypt (X tons) ranks next in terms of the total imports with an 11% share, followed by Israel (9.2%), Saudi Arabia (9.1%) and Algeria (8.9%). Morocco (X tons), Iraq (X tons), Yemen (X tons), Oman (X tons), Kuwait (X tons), Bahrain (X tons) and Iran (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Bahrain (with a CAGR of +26.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 52% of total imports. Algeria, Israel, Egypt, Morocco, Kuwait, Oman, Yemen, Bahrain, Iraq and Iran lagged somewhat behind, together accounting for a further 42%.

Bahrain, with a CAGR of +26.9%, saw 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 2021, with an increase of 2.9% against the previous year. Import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fructose import price increased by +76.8% against 2016 indices. The growth pace was the most rapid in 2017 when the import price increased by 36%. Over the period under review, import prices reached the maximum in 2021 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform