MENA: Soups Market 2024

Soups Market Size in MENA

In 2021, the MENA's soups market decreased by -15% to $X, falling for the fourth year in a row after six years of growth. In general, consumption saw a slight shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 7.3% against the previous year. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Soups Production in MENA

In value terms, soups production rose modestly to $X in 2021 estimated in export price. The total production indicated a modest expansion from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -40.3% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 17% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Soups Exports

Exports in MENA

In 2021, overseas shipments of soups and broths increased by 31% to X tons, rising for the third year in a row after two years of decline. Total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +40.3% against 2018 indices. The most prominent rate of growth was recorded in 2013 with an increase of 57%. The volume of export peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, soups exports soared to $X in 2021. Total exports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +44.1% against 2018 indices. The growth pace was the most rapid in 2013 with an increase of 37%. The level of export peaked in 2021 and is likely to continue growth in the near future.

Exports by Country

In 2021, Turkey (X tons) represented the main exporter of soups and broths, mixing up 52% of total exports. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 26% share, followed by Egypt (10%). Oman (X tons), Israel (X tons) and Morocco (X tons) held a little share of total exports.

Exports from Turkey increased at an average annual rate of +11.0% from 2012 to 2021. At the same time, the United Arab Emirates (+43.7%) and Oman (+4.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +43.7% from 2012-2021. Israel experienced a relatively flat trend pattern. By contrast, Egypt (-3.4%) and Morocco (-5.6%) illustrated a downward trend over the same period. The United Arab Emirates (+24 p.p.) and Turkey (+8.9 p.p.) significantly strengthened its position in terms of the total exports, while Oman, Israel, Morocco and Egypt saw its share reduced by -1.6%, -2.2%, -4% and -19.4% from 2012 to 2021, respectively.

In value terms, the largest soups supplying countries in MENA were the United Arab Emirates ($X), Turkey ($X) and Egypt ($X), together accounting for 88% of total exports.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of +57.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per ton in 2021, dropping by -7.9% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 7.2% against the previous year. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

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 Morocco ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.2%), while the other leaders experienced more modest paces of growth.

Soups Imports

Imports in MENA

Soups imports rose markedly to X tons in 2021, picking up by 7.9% against the previous year. The total import volume increased at an average annual rate of +4.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by 54% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, soups imports expanded sharply to $X in 2021. The total import value increased at an average annual rate of +5.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 52%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

In 2021, Saudi Arabia (X tons), distantly followed by Iraq (X tons), Jordan (X tons), the United Arab Emirates (X tons), Oman (X tons), Kuwait (X tons), Syrian Arab Republic (X tons) and Yemen (X tons) were the largest importers of soups and broths, together achieving 84% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Syrian Arab Republic (with a CAGR of +39.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported soups and broths in MENA, comprising 35% of total imports. The second position in the ranking was held by Kuwait ($X), with an 11% share of total imports. It was followed by Jordan, with an 11% share.

In Saudi Arabia, soups imports increased at an average annual rate of +7.2% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+11.8% per year) and Jordan (+6.8% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, approximately reflecting the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2018 an increase of 7.2% against the previous year. The level of import peaked at $X per ton in 2020, and then shrank slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Kuwait ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform