Middle East: Caramel Market 2024

Caramel Market Size in the Middle East

The Middle Eastern caramel market was finally on the rise to reach $X in 2022, after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Caramel Production in the Middle East

In value terms, caramel production reduced to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Caramel Exports

Exports in the Middle East

After six years of growth, shipments abroad of caramel decreased by X% to X tons in 2022. In general, exports, however, posted a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X tons, and then shrank rapidly in the following year.

In value terms, caramel exports soared to $X in 2022. Overall, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Turkey represented the key exporter of caramel in the Middle East, with the volume of exports amounting to X tons, which was near X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons) and Iran (X tons), together comprising a X% share of total exports. The following exporters - Israel (X tons), Bahrain (X tons) and Saudi Arabia (X tons) - each reached a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to caramel exports from Turkey stood at X%. At the same time, Bahrain (X%), the United Arab Emirates (X%), Iran (X%), Israel (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Turkey (X p.p.), the United Arab Emirates (X p.p.) and Bahrain (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest caramel supplying countries in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Iran ($X), with a combined X% share of total exports. Israel, Saudi Arabia and Bahrain lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Bahrain, with a CAGR of X%, recorded the highest growth rate of 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 the Middle East stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

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 the United Arab Emirates ($X per ton), while Turkey ($X per ton) 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 (X%), while the other leaders experienced more modest paces of growth.

Caramel Imports

Imports in the Middle East

In 2022, approx. X tons of caramel were imported in the Middle East; with an increase of X% on 2021. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, caramel imports surged to $X in 2022. Overall, imports continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

The countries with the highest levels of caramel imports in 2022 were Turkey (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons), Israel (X tons) and Iraq (X tons), together resulting at X% of total import. Iran (X tons), Yemen (X tons), Oman (X tons), Kuwait (X tons) and Lebanon (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Oman (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports. Israel, Oman, Kuwait, Iran, Yemen, Iraq and Lebanon lagged somewhat behind, together accounting for a further X%.

Oman, with a CAGR of X%, 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

The import price in the Middle East stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, caramel import price decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2019 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2020 to 2022, the import prices remained at a somewhat lower figure.

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 Saudi Arabia ($X per ton), while Iraq ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform