Middle East: Pyrethrum And Peppermint Market 2024

Pyrethrum And Peppermint Market Size in the Middle East

In 2021, the Middle Eastern pyrethrum and peppermint market increased by 2.7% to $X, rising for the fifth consecutive year after three years of decline. Over the period under review, consumption enjoyed a prominent expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Pyrethrum And Peppermint Production in the Middle East

In value terms, pyrethrum and peppermint production reduced slightly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 13%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Pyrethrum And Peppermint Exports

Exports in the Middle East

In 2021, shipments abroad of pyrethrum and peppermint was finally on the rise to reach X tons after two years of decline. Total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when exports increased by 35%. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, pyrethrum and peppermint exports expanded significantly to $X in 2021. Total exports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +8.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +55.7% against 2017 indices. The growth pace was the most rapid in 2018 when exports increased by 25% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see steady growth in the near future.

Exports by Country

Turkey was the key exporting country with an export of about X tons, which accounted for 45% of total exports. It was distantly followed by Syrian Arab Republic (X tons), the United Arab Emirates (X tons), Iran (X tons) and Lebanon (X tons), together committing a 44% share of total exports. The following exporters - Saudi Arabia (X tons) and Jordan (X tons) - each recorded a 6.2% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to pyrethrum and peppermint exports from Turkey stood at +11.9%. At the same time, Saudi Arabia (+17.6%), the United Arab Emirates (+14.8%), Jordan (+8.7%), Syrian Arab Republic (+4.6%), Iran (+2.3%) and Lebanon (+1.7%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +17.6% from 2012-2021. From 2012 to 2021, the share of Turkey, the United Arab Emirates and Saudi Arabia increased by +16, +5.9 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest pyrethrum and peppermint supplier in the Middle East, comprising 44% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 16% share of total exports. It was followed by Syrian Arab Republic, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey stood at +11.1%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+17.1% per year) and Syrian Arab Republic (+8.0% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, picking up by 2.8% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.6%. The most prominent rate of growth was recorded in 2020 when the export price increased by 21% against the previous year. Over the period under review, the export prices reached the maximum in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Saudi Arabia ($X per ton), while Lebanon ($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 (+7.4%), while the other leaders experienced more modest paces of growth.

Pyrethrum And Peppermint Imports

Imports in the Middle East

In 2021, purchases abroad of pyrethrum and peppermint increased by 14% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 32% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, pyrethrum and peppermint imports expanded markedly to $X in 2021. Overall, imports saw a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by 41% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the near future.

Imports by Country

The purchases of the three major importers of pyrethrum and peppermint, namely the United Arab Emirates, Israel and Turkey, represented more than half of total import. Saudi Arabia (X tons) held a 9.4% share (based on physical terms) of total imports, which put it in second place, followed by Iran (5.5%) and Kuwait (5.4%). Jordan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were in Kuwait (with a CAGR of +22.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pyrethrum and peppermint importing markets in the Middle East were Saudi Arabia ($X), Israel ($X) and the United Arab Emirates ($X), with a combined 73% share of total imports. These countries were followed by Turkey, Kuwait, Jordan and Iran, which together accounted for a further 16%.

Kuwait, with a CAGR of +24.0%, recorded 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 2021, with a decrease of -2.3% against the previous year. Import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pyrethrum and peppermint import price increased by +73.0% against 2017 indices. The growth pace was the most rapid in 2019 an increase of 26%. The level of import peaked at $X per ton in 2020, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+21.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :