Middle East: Razor Market 2024

Razor Market Size in the Middle East

The Middle Eastern razor market rose notably to $X in 2021, increasing by 5.6% against the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Razor Production in the Middle East

In value terms, razor production rose notably to $X in 2021 estimated in export price. The total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.2% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 31% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Razor Exports

Exports in the Middle East

In 2021, approx. X tons of razors were exported in the Middle East; picking up by 28% against 2020. Total exports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, razor exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X tons) and the United Arab Emirates (X tons) were the key exporters of razors in the Middle East, together mixing up 70% of total exports. It was distantly followed by Israel (X tons) and Saudi Arabia (X tons), together committing a 24% share of total exports. The following exporters - Oman (X tons) and Bahrain (X tons) - each accounted for a 4.2% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Oman (with a CAGR of +59.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest razor supplying countries in the Middle East were Turkey ($X), Israel ($X) and the United Arab Emirates ($X), together accounting for 94% of total exports. These countries were followed by Bahrain, Saudi Arabia and Oman, which together accounted for a further 5.5%.

Among the main exporting countries, Oman, with a CAGR of +52.8%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, surging by 11% against the previous year. In general, the export price, however, recorded a slight setback. The most prominent rate of growth was recorded in 2013 when the export price increased by 15%. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+1.5%), while the other leaders experienced a decline in the export price figures.

Razor Imports

Imports in the Middle East

In 2021, the amount of razors imported in the Middle East reached X tons, rising by 3.1% against the previous year. Overall, imports, however, recorded a mild decline. The growth pace was the most rapid in 2019 when imports increased by 33% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, razor imports soared to $X in 2021. The total import value increased at an average annual rate of +1.8% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2019 when imports increased by 19% against the previous year. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

The countries with the highest levels of razor imports in 2021 were the United Arab Emirates (X tons), Iraq (X tons) and Saudi Arabia (X tons), together recording 63% of total import. It was distantly followed by Turkey (X tons) and Iran (X tons), together creating a 17% share of total imports. The following importers - Israel (X tons) and Oman (X tons) - each accounted for an 8.9% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Iraq (with a CAGR of +13.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Iraq ($X) were the countries with the highest levels of imports in 2021, with a combined 65% share of total imports.

Iraq, with a CAGR of +12.7%, saw the highest growth rate of 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

In 2021, the import price in the Middle East amounted to $X per ton, surging by 15% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.9%. The most prominent rate of growth was recorded in 2020 when the import price increased by 16% against the previous year. Over the period under review, import prices hit record highs in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of destination: the country with the highest price was Israel ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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