Middle East: Glucose Market 2024

Glucose Market Size in the Middle East

The Middle Eastern glucose market expanded rapidly to $X in 2021, with an increase of 5.1% against the previous year. In general, consumption recorded a perceptible decrease. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Glucose Production in the Middle East

In value terms, glucose production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a mild downturn. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Glucose Exports

Exports in the Middle East

For the third consecutive year, the Middle East recorded growth in shipments abroad of glucose and glucose syrup, which increased by 9.4% to X tons in 2021. Overall, exports saw a prominent increase. The pace of growth was the most pronounced in 2015 when exports increased by 57% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, glucose exports soared to $X in 2021. Over the period under review, exports recorded prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of 37%. The level of export peaked in 2021 and is expected to retain growth in the near future.

Exports by Country

Turkey represented the main exporter of glucose and glucose syrup in the Middle East, with the volume of exports finishing at X tons, which was near 82% of total exports in 2021. It was distantly followed by Saudi Arabia (X tons), constituting an 18% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to glucose exports from Turkey stood at +19.2%. At the same time, Saudi Arabia (+36.6%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +36.6% from 2012-2021. While the share of Saudi Arabia (+13 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest glucose supplier in the Middle East, comprising 75% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 23% share of total exports.

In Turkey, glucose exports increased at an average annual rate of +14.6% over the period from 2012-2021.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, growing by 19% against the previous year. Over the period under review, the export price, however, recorded a pronounced downturn. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Saudi Arabia ($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 Saudi Arabia (-1.2%).

Glucose Imports

Imports in the Middle East

In 2021, the amount of glucose and glucose syrup imported in the Middle East shrank to X tons, declining by -6.2% against the previous year. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 24%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, glucose imports rose rapidly to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 26% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The countries with the highest levels of glucose imports in 2021 were Syrian Arab Republic (X tons), Turkey (X tons), the United Arab Emirates (X tons) and Iraq (X tons), together reaching 61% of total import. It was distantly followed by Israel (X tons), Jordan (X tons), Kuwait (X tons) and Yemen (X tons), together constituting a 24% share of total imports. The following importers - Oman (X tons) and Saudi Arabia (X tons) - each finished at a 7.6% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Iraq (with a CAGR of +14.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), the United Arab Emirates ($X) and Syrian Arab Republic ($X) were the countries with the highest levels of imports in 2021, together comprising 50% of total imports. Iraq, Israel, Jordan, Saudi Arabia, Oman, Kuwait and Yemen lagged somewhat behind, together comprising a further 42%.

Iraq, with a CAGR of +10.2%, saw the highest rates of growth with regard to the value of imports, among 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 2021, increasing by 15% against the previous year. Overall, the import price, however, showed a slight descent. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a 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 Saudi Arabia ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+3.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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