MENA: Glucose Market 2024

Glucose Market Size in MENA

After two years of growth, the MENA's glucose market decreased by -1% to $X in 2021. Overall, consumption recorded a pronounced setback. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Glucose Production in MENA

In value terms, glucose production surged to $X in 2021 estimated in export price. Over the period under review, production showed a slight downturn. The level of production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Glucose Exports

Exports in MENA

For the tenth year in a row, MENA recorded growth in shipments abroad of glucose and glucose syrup, which increased by 17% to X tons in 2021. In general, exports recorded a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 57% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, glucose exports surged to $X in 2021. Over the period under review, exports saw a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey was the largest exporting country with an export of about X tons, which finished at 62% of total exports. Egypt (X tons) took the second position in the ranking, distantly followed by Saudi Arabia (X tons). All these countries together took near 38% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to glucose exports from Turkey stood at +19.2%. At the same time, Saudi Arabia (+36.6%) and Egypt (+28.1%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +36.6% from 2012-2021. Egypt (+10 p.p.) and Saudi Arabia (+9 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -7.3% from 2012 to 2021, respectively.

In value terms, Turkey ($X) remains the largest glucose supplier in MENA, comprising 59% of total exports. The second position in the ranking was taken by Egypt ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey stood at +14.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Egypt (+21.3% per year) and Saudi Arabia (+35.0% per year).

Export Prices by Country

In 2021, the export price in MENA amounted to $X per ton, increasing by 17% against the previous year. Over the period under review, the export price, however, saw a noticeable contraction. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-1.2%), while the other leaders experienced a decline in the export price figures.

Glucose Imports

Imports in MENA

Glucose imports declined to X tons in 2021, reducing by -5.5% compared with the previous year. The total import volume increased at an average annual rate of +2.0% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2013 with an increase of 13%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, glucose imports stood at $X in 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 14% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

The countries with the highest levels of glucose imports in 2021 were Algeria (X tons), Syrian Arab Republic (X tons), Tunisia (X tons), Turkey (X tons), the United Arab Emirates (X tons), Iraq (X tons), Morocco (X tons), Israel (X tons), Jordan (X tons), Kuwait (X tons), Yemen (X tons) and Oman (X tons), together resulting at 91% of total import.

From 2012 to 2021, the biggest increases were recorded for Morocco (with a CAGR of +18.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Algeria ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2021, together comprising 39% of total imports. Syrian Arab Republic, Tunisia, Iraq, Morocco, Israel, Jordan, Oman, Kuwait and Yemen lagged somewhat behind, together comprising a further 50%.

Morocco, with a CAGR of +15.0%, saw the highest growth rate of 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

In 2021, the import price in MENA amounted to $X per ton, with an increase of 15% against the previous year. In general, the import price, however, recorded a mild setback. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+3.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform