Middle East: Soups Market 2024

Soups Market Size in the Middle East

In 2021, the Middle Eastern soups market decreased by -17.8% to $X, falling for the fourth year in a row after six years of growth. Over the period under review, consumption showed a perceptible setback. The pace of growth appeared the most rapid in 2017 when the market value increased by 10%. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Soups Production in the Middle East

In value terms, soups production reached $X in 2021 estimated in export price. Overall, production posted a noticeable expansion. The most prominent rate of growth was recorded in 2017 with an increase of 23%. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Soups Exports

Exports in the Middle East

In 2021, approx. X tons of soups and broths were exported in the Middle East; growing by 44% on the year before. Over the period under review, exports continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of 61%. The volume of export peaked in 2021 and is likely to see gradual growth in years to come.

In value terms, soups exports surged to $X in 2021. Overall, exports posted a prominent expansion. The pace of growth was the most pronounced in 2013 with an increase of 48% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

In 2021, Turkey (X tons) was the largest exporter of soups and broths, achieving 59% of total exports. It was distantly followed by the United Arab Emirates (X tons), comprising a 29% share of total exports. Oman (X tons) and Israel (X tons) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +11.0% from 2012 to 2021. At the same time, the United Arab Emirates (+43.7%) and Oman (+4.7%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +43.7% from 2012-2021. Israel experienced a relatively flat trend pattern. While the share of the United Arab Emirates (+26 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Oman (-4.1 p.p.), Israel (-4.2 p.p.) and Turkey (-7.6 p.p.) displayed negative dynamics.

In value terms, the largest soups supplying countries in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Oman ($X), with a combined 93% share of total exports.

The United Arab Emirates, with a CAGR of +57.0%, recorded the highest growth rate of the value of exports, among the main exporting countries 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, which is down by -13% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 16%. Over the period under review, the export prices hit record highs at $X per ton in 2020, and then declined in the following year.

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 ($X per ton), while Turkey ($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 (+9.2%), while the other leaders experienced mixed trends in the export price figures.

Soups Imports

Imports in the Middle East

In 2021, purchases abroad of soups and broths increased by 7.2% to X tons, rising for the sixth year in a row after two years of decline. The total import volume increased at an average annual rate of +6.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 61%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, soups imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +6.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 58% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the immediate term.

Imports by Country

In 2021, Saudi Arabia (X tons), distantly followed by Iraq (X tons), Jordan (X tons), the United Arab Emirates (X tons), Oman (X tons), Kuwait (X tons), Syrian Arab Republic (X tons) and Yemen (X tons) represented the key importers of soups and broths, together achieving 87% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Syrian Arab Republic (with a CAGR of +39.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported soups and broths in the Middle East, comprising 36% of total imports. The second position in the ranking was taken by Kuwait ($X), with an 11% share of total imports. It was followed by Jordan, with an 11% share.

In Saudi Arabia, soups imports increased at an average annual rate of +7.2% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Kuwait (+11.8% per year) and Jordan (+6.8% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, remaining stable against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 5.5% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2020, and then declined slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kuwait (+7.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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