MENA: Umbrella Market 2024

Umbrella Market Size in MENA

The MENA's umbrella market totaled $X in 2022, increasing by 6.3% against the previous year. Overall, consumption, however, continues to indicate a slight reduction. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Umbrella Production in MENA

In value terms, umbrella production totaled $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 27%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Umbrella Exports

Exports in MENA

After three years of decline, shipments abroad of umbrellas increased by 24% to X units in 2022. In general, exports saw a relatively flat trend pattern. The volume of export peaked at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, umbrella exports skyrocketed to $X in 2022. Total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 +66.4% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 31%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Turkey represented the main exporter of umbrellas in MENA, with the volume of exports accounting for X units, which was near 65% of total exports in 2022. It was distantly followed by the United Arab Emirates (X units), constituting a 21% share of total exports. Saudi Arabia (X units), Tunisia (X units) and Morocco (X units) held a little share of total exports.

Exports from Turkey increased at an average annual rate of +3.8% from 2012 to 2022. At the same time, Saudi Arabia (+22.6%) and Morocco (+2.1%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +22.6% from 2012-2022. By contrast, the United Arab Emirates (-5.7%) and Tunisia (-9.2%) illustrated a downward trend over the same period. Turkey (+18 p.p.) and Saudi Arabia (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while Tunisia and the United Arab Emirates saw its share reduced by -4.5% and -19.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest umbrella supplier in MENA, comprising 78% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9% share of total exports. It was followed by Saudi Arabia, with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey stood at +6.2%. In the other countries, the average annual rates were as follows: the United Arab Emirates (-6.8% per year) and Saudi Arabia (+36.0% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, growing by 2.5% against the previous year. Export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, umbrella export price increased by +64.4% against 2017 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 43%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

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 Turkey ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+10.9%), while the other leaders experienced more modest paces of growth.

Umbrella Imports

Imports in MENA

In 2022, purchases abroad of umbrellas was finally on the rise to reach X units after two years of decline. Over the period under review, imports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2019 with an increase of 55% against the previous year. The volume of import peaked at X units in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, umbrella imports rose remarkably to $X in 2022. Overall, imports, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2019 with an increase of 52% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Turkey represented the largest importing country with an import of around X units, which recorded 29% of total imports. Djibouti (X units) took the second position in the ranking, followed by the United Arab Emirates (X units), Israel (X units), Iraq (X units), Algeria (X units) and Iran (X units). All these countries together held near 56% share of total imports.

Imports into Turkey decreased at an average annual rate of -2.5% from 2012 to 2022. At the same time, Iraq (+4.2%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in MENA, with a CAGR of +4.2% from 2012-2022. By contrast, Algeria (-1.6%), Israel (-2.8%), Djibouti (-8.0%), the United Arab Emirates (-15.9%) and Iran (-18.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Israel, Iraq and Algeria increased by +14, +5.3, +4.9 and +3.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest umbrella importing markets in MENA were the United Arab Emirates ($X), Israel ($X) and Djibouti ($X), together accounting for 50% of total imports. Turkey, Algeria, Iraq and Iran lagged somewhat behind, together comprising a further 29%.

Iraq, with a CAGR of +11.8%, recorded 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 unit in 2022, with a decrease of -12.2% against the previous year. Import price indicated a resilient expansion from 2012 to 2022: its price increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, umbrella import price increased by +79.6% against 2017 indices. The pace of growth was the most pronounced in 2021 when the import price increased by 55% against the previous year. As a result, import price attained the peak level of $X per unit, and then dropped in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Turkey ($X per unit) 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 (+16.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform