Middle East: Modified Starches Market 2024

Modified Starches Market Size in the Middle East

The Middle Eastern modified starches market fell modestly to $X in 2022, reducing by -2.4% against the previous year. Over the period under review, consumption recorded a slight downturn. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Modified Starches Production in the Middle East

In value terms, modified starches production amounted to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 29% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Modified Starches Exports

Exports in the Middle East

For the eleventh consecutive year, the Middle East recorded growth in shipments abroad of dextrins and other modified starches, which increased by 14% to X tons in 2022. Over the period under review, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 54%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, modified starches exports skyrocketed to $X in 2022. In general, exports continue to indicate a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey prevails in exports structure, amounting to X tons, which was approx. 88% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), committing an 8.7% share of total exports. Saudi Arabia (X tons) held a relatively small share of total exports.

Turkey was also the fastest-growing in terms of the dextrins and other modified starches exports, with a CAGR of +32.5% from 2012 to 2022. At the same time, Saudi Arabia (+30.5%) and the United Arab Emirates (+6.1%) displayed positive paces of growth. Turkey (+54 p.p.) and Saudi Arabia (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -22.5% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest modified starches supplier in the Middle East, comprising 85% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 11% share of total exports.

In Turkey, modified starches exports expanded at an average annual rate of +28.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+5.0% per year) and Saudi Arabia (+23.3% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, with an increase of 25% against the previous year. In general, the export price, however, continues to indicate a pronounced downturn. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 ($X per ton), while Saudi Arabia ($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 (-1.0%), while the other leaders experienced a decline in the export price figures.

Modified Starches Imports

Imports in the Middle East

In 2022, the amount of dextrins and other modified starches imported in the Middle East contracted to X tons, with a decrease of -12.8% against the previous year's figure. Overall, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 15%. As a result, imports attained the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, modified starches imports rose slightly to $X in 2022. The total import value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 21% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) represented the major importer of dextrins and other modified starches, constituting 45% of total imports. It was distantly followed by the United Arab Emirates (X tons), Saudi Arabia (X tons) and Israel (X tons), together achieving a 34% share of total imports. Kuwait (X tons), Iran (X tons), Oman (X tons), Iraq (X tons) and Lebanon (X tons) followed a long way behind the leaders.

Imports into Turkey decreased at an average annual rate of -4.2% from 2012 to 2022. At the same time, Lebanon (+15.2%), the United Arab Emirates (+7.1%), Israel (+6.7%), Kuwait (+5.4%), Saudi Arabia (+2.5%) and Iraq (+2.0%) displayed positive paces of growth. Moreover, Lebanon emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +15.2% from 2012-2022. By contrast, Iran (-1.5%) and Oman (-4.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United Arab Emirates, Saudi Arabia, Israel and Kuwait increased by +7.2, +3.8, +3.8 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported dextrins and other modified starches in the Middle East, comprising 47% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by Saudi Arabia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey was relatively modest. In the other countries, the average annual rates were as follows: the United Arab Emirates (+8.8% per year) and Saudi Arabia (+6.0% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, jumping by 20% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Iran ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :