Middle East: Fructose Market 2024

Fructose Market Size in the Middle East

The Middle Eastern fructose market contracted slightly to $X in 2021, dropping by -2.9% against the previous year. Over the period under review, consumption, however, saw a abrupt curtailment. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Fructose Production in the Middle East

In value terms, fructose production rose to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 with an increase of 6.5% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Fructose Exports

Exports in the Middle East

In 2021, overseas shipments of fructose and fructose syrup increased by 143% to X tons, rising for the fifth year in a row after two years of decline. Overall, exports showed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, fructose exports surged to $X in 2021. In general, exports continue to indicate strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey dominates exports structure, recording X tons, which was near 91% of total exports in 2021. It was distantly followed by Israel (X tons), generating a 6.5% share of total exports.

Turkey was also the fastest-growing in terms of the fructose and fructose syrup exports, with a CAGR of +27.2% from 2012 to 2021. Israel (-5.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey increased by +42 percentage points.

In value terms, Turkey ($X) remains the largest fructose supplier in the Middle East, comprising 83% of total exports. The second position in the ranking was held by Israel ($X), with a 9.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey stood at +18.1%.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, shrinking by -15.2% against the previous year. In general, the export price showed a abrupt decline. The pace of growth was the most pronounced in 2017 when the export price increased by 8.9%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Israel ($X per ton), while Turkey totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (-4.2%).

Fructose Imports

Imports in the Middle East

In 2021, fructose imports in the Middle East rose sharply to X tons, increasing by 11% against 2020. The total import volume increased at an average annual rate of +3.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when imports increased by 33%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, fructose imports rose slightly to $X in 2021. Total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -1.5% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 30%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, the United Arab Emirates (X tons) and Turkey (X tons) represented the largest importers of fructose and fructose syrup in the Middle East, together accounting for near 55% of total imports. Israel (X tons) held the next position in the ranking, followed by Saudi Arabia (X tons). All these countries together held near 25% share of total imports. Iraq (X tons), Yemen (X tons), Oman (X tons), Kuwait (X tons), Bahrain (X tons) and Iran (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Bahrain (with a CAGR of +26.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest fructose importing markets in the Middle East were Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X), together accounting for 68% of total imports. Israel, Kuwait, Oman, Yemen, Bahrain, Iraq and Iran lagged somewhat behind, together comprising a further 28%.

Bahrain, with a CAGR of +26.9%, 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

In 2021, the import price in the Middle East amounted to $X per ton, shrinking by -7.2% against the previous year. Import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, fructose import price decreased by -8.9% against 2019 indices. The pace of growth appeared the most rapid in 2017 an increase of 40% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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