Middle East: Frozen Potato Market 2024

Frozen Potato Market Size in the Middle East

In 2021, after three years of decline, there was growth in the Middle Eastern frozen potato market, when its value increased by 4.2% to $X. The market value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Frozen Potato Production in the Middle East

In value terms, frozen potato production expanded notably to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 27% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Frozen Potato Exports

Exports in the Middle East

In 2021, the amount of frozen potatoes exported in the Middle East skyrocketed to X tons, with an increase of 80% on the previous year's figure. In general, exports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 162%. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, frozen potato exports skyrocketed to $X in 2021. Overall, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 199% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Turkey dominates exports structure, finishing at X tons, which was near 77% of total exports in 2021. The United Arab Emirates (X tons) held a 7.9% share (based on physical terms) of total exports, which put it in second place, followed by Syrian Arab Republic (6.5%). The following exporters - Iran (X tons) and Lebanon (X tons) - each finished at a 5.9% share of total exports.

Turkey was also the fastest-growing in terms of the frozen potatoes exports, with a CAGR of +49.6% from 2012 to 2021. At the same time, Iran (+27.9%), the United Arab Emirates (+20.7%) and Lebanon (+4.7%) displayed positive paces of growth. Syrian Arab Republic experienced a relatively flat trend pattern. While the share of Turkey (+75 p.p.), the United Arab Emirates (+6.5 p.p.) and Iran (+2.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest frozen potato supplier in the Middle East, comprising 76% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total exports. It was followed by Syrian Arab Republic, with a 4.3% share.

In Turkey, frozen potato exports increased at an average annual rate of +43.0% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+20.1% per year) and Syrian Arab Republic (+1.7% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, which is down by -6.2% against the previous year. Export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +7.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, frozen potato export price decreased by -20.2% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the export price increased by 103% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

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 the United Arab Emirates ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lebanon (+2.7%), while the other leaders experienced mixed trends in the export price figures.

Frozen Potato Imports

Imports in the Middle East

Frozen potato imports surged to X tons in 2021, rising by 17% against 2020 figures. Total imports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +25.2% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, frozen potato imports soared to $X in 2021. Total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -0.3% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 19%. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Saudi Arabia represented the main importing country with an import of about X tons, which accounted for 49% of total imports. The United Arab Emirates (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Jordan (8.9%), Kuwait (7.9%) and Iraq (6.5%). Oman (X tons) and Qatar (X tons) followed a long way behind the leaders.

Imports into Saudi Arabia increased at an average annual rate of +5.7% from 2012 to 2021. At the same time, Iraq (+16.2%), Jordan (+6.7%), Oman (+6.6%), Qatar (+6.5%) and Kuwait (+3.5%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +16.2% from 2012-2021. By contrast, the United Arab Emirates (-2.9%) illustrated a downward trend over the same period. While the share of Saudi Arabia (+3.9 p.p.) and Iraq (+3.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the United Arab Emirates (-12.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported frozen potatoes in the Middle East, comprising 50% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 13% share of total imports. It was followed by Kuwait, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Saudi Arabia amounted to +5.0%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+2.6% per year) and Kuwait (+5.2% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, approximately reflecting the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 26%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

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 Qatar ($X per ton), while Iraq ($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 (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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