MENA: Fats Preparation Machinery Market 2024

Fats Preparation Machinery Market Size in MENA

The MENA's fats preparation machinery market was finally on the rise to reach $X in 2022, after three years of decline. Overall, consumption, however, showed tangible growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Fats Preparation Machinery Production in MENA

In value terms, fats preparation machinery production declined to $X in 2022 estimated in export price. In general, production showed a resilient increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 168% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Fats Preparation Machinery Exports

Exports in MENA

In 2022, overseas shipments of machinery for the extraction or preparation of animal or fixed vegetable fats or oils increased by 0.5% to X units, rising for the second year in a row after three years of decline. Over the period under review, exports showed a measured expansion. The growth pace was the most rapid in 2017 with an increase of 431%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, fats preparation machinery exports contracted to $X in 2022. Total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +87.2% against 2016 indices. The most prominent rate of growth was recorded in 2017 with an increase of 71%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell in the following year.

Exports by Country

Turkey was the main exporting country with an export of about X units, which amounted to 51% of total exports. Egypt (X units) held the second position in the ranking, distantly followed by the United Arab Emirates (X units) and Jordan (X units). All these countries together held near 45% share of total exports. Tunisia (X units) took a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +90.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest fats preparation machinery supplier in MENA, comprising 71% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 14% share of total exports. It was followed by Egypt, with a 12% share.

In Turkey, fats preparation machinery exports increased at an average annual rate of +1.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+6.1% per year) and Egypt (+66.2% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, waning by -11.3% against the previous year. In general, the export price recorded a mild downturn. The growth pace was the most rapid in 2019 an increase of 371% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Jordan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+1.8%), while the other leaders experienced a decline in the export price figures.

Fats Preparation Machinery Imports

Imports in MENA

Fats preparation machinery imports declined to X units in 2022, waning by -10.2% against the year before. Over the period under review, imports recorded a slight decrease. The pace of growth was the most pronounced in 2016 when imports increased by 196%. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, fats preparation machinery imports shrank dramatically to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 40%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the key importing country with an import of around X units, which reached 37% of total imports. It was distantly followed by Morocco (X units), Turkey (X units), Egypt (X units), Algeria (X units) and Iran (X units), together committing a 47% share of total imports. Iraq (X units) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to fats preparation machinery imports into the United Arab Emirates stood at +27.4%. At the same time, Iraq (+31.2%), Iran (+15.7%), Algeria (+14.9%) and Morocco (+11.1%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in MENA, with a CAGR of +31.2% from 2012-2022. By contrast, Turkey (-7.3%) and Egypt (-18.6%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+34 p.p.), Morocco (+7.5 p.p.), Algeria (+7 p.p.), Iran (+6.2 p.p.) and Iraq (+3.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Turkey (-8.4 p.p.) and Egypt (-56.3 p.p.) displayed negative dynamics.

In value terms, the largest fats preparation machinery importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Algeria ($X), with a combined 53% share of total imports.

In terms of the main importing countries, the United Arab Emirates, with a CAGR of +27.2%, recorded the highest growth rate of 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 import price in MENA amounted to $X per unit, dropping by -10.5% against the previous year. Over the period under review, the import price, however, recorded a mild increase. The growth pace was the most rapid in 2017 an increase of 141% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per unit), while Egypt ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+27.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform