Oman: Soups Market 2024

Soups Market Size in Oman

The Omani soups market skyrocketed to $X in 2021, with an increase of 15% against the previous year. Overall, consumption continues to indicate a prominent increase. Soups consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Soups Production in Oman

In value terms, soups production surged to $X in 2021 estimated in export price. In general, production saw a prominent expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 110%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Soups Exports

Exports from Oman

For the third consecutive year, Oman recorded growth in shipments abroad of soups and broths, which increased by 63% to X tons in 2021. Overall, exports posted noticeable growth. The most prominent rate of growth was recorded in 2013 with an increase of 135%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, soups exports skyrocketed to $X in 2021. In general, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 124%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Somalia (X tons) was the main destination for soups exports from Oman, accounting for a 92% share of total exports. Moreover, soups exports to Somalia exceeded the volume sent to the second major destination, Qatar (X tons), more than tenfold. The third position in this ranking was taken by Yemen (X tons), with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Somalia totaled +5.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+2.2% per year) and Yemen (-11.0% per year).

In value terms, Somalia ($X) remains the key foreign market for soups and broths exports from Oman, comprising 86% of total exports. The second position in the ranking was taken by Qatar ($X), with a 13% share of total exports. It was followed by the United Arab Emirates, with a 1% share.

From 2012 to 2021, the average annual growth rate of value to Somalia amounted to +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+4.2% per year) and the United Arab Emirates (-2.3% per year).

Export Prices by Country

The average soups export price stood at $X per ton in 2021, declining by -19.7% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 85% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Yemen ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Soups Imports

Imports into Oman

For the third year in a row, Oman recorded growth in overseas purchases of soups and broths, which increased by 29% to X tons in 2021. Overall, imports continue to indicate a resilient increase. The growth pace was the most rapid in 2013 when imports increased by 127% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, soups imports rose remarkably to $X in 2021. In general, imports continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 112%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Spain (X tons), Egypt (X tons) and Malaysia (X tons) were the main suppliers of soups imports to Oman, with a combined 63% share of total imports. Turkey, Saudi Arabia, Jordan, the UK and the United Arab Emirates lagged somewhat behind, together accounting for a further 9.2%.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +61.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Egypt ($X) and Malaysia ($X) were the largest soups suppliers to Oman, with a combined 62% share of total imports. Saudi Arabia, Turkey, the UK, the United Arab Emirates and Jordan lagged somewhat behind, together accounting for a further 9%.

Among the main suppliers, Saudi Arabia, with a CAGR of +71.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average soups import price stood at $X per ton in 2021, falling by -16.8% against the previous year. Overall, import price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, soups import price increased by +43.0% against 2015 indices. The most prominent rate of growth was recorded in 2020 when the average import price increased by 28%. As a result, import price attained the peak level of $X per ton, and then fell significantly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Jordan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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