Saudi Arabia: Market for Malt Extract And Food Preparations Of Flour, Meal, And Starch 2024

Market Size for Malt Extract And Food Preparations Of Flour, Meal, And Starch in Saudi Arabia

After three years of growth, the Saudi market for malt extract and food preparations of flour, meal, and starches decreased by -13.4% to $X in 2022. Over the period under review, consumption, however, recorded prominent growth. Over the period under review, the market reached the maximum level at $X in 2021, and then dropped in the following year.

Production of Malt Extract And Food Preparations Of Flour, Meal, And Starch in Saudi Arabia

In value terms, production of malt extract and food preparations of flour, meal, and starches reduced modestly to $X in 2022 estimated in export price. Overall, production, however, posted strong growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by 91% against the previous year. Production of peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Exports from Saudi Arabia

In 2022, the amount of malt extract and food preparations of flour, meal, and starches exported from Saudi Arabia contracted rapidly to X tons, which is down by -43.8% against 2021 figures. Overall, exports, however, continue to indicate strong growth. The pace of growth appeared the most rapid in 2021 when exports increased by 864%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, exports of malt extract and food preparations of flour, meal, and starches contracted notably to $X in 2022. In general, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2014 when exports increased by 1,186%. Over the period under review, the exports of hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Denmark (X tons), Bahrain (X tons) and the United States (X tons) were the main destinations of exports of malt extract and food preparations of flour, meal, and starches from Saudi Arabia, with a combined 65% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +64.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for malt extract and food preparations of flour, meal, and starch exported from Saudi Arabia were Denmark ($X), Bahrain ($X) and the United States ($X), together accounting for 64% of total exports.

The United States, with a CAGR of +74.4%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for malt extract and food preparations of flour, meal, and starches stood at $X per ton in 2022, approximately equating the previous year. In general, the export price recorded a mild curtailment. The most prominent rate of growth was recorded in 2014 an increase of 60%. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Malt Extract And Food Preparations Of Flour, Meal, And Starch

Imports into Saudi Arabia

In 2021, purchases abroad of malt extract and food preparations of flour, meal, and starches increased by 67% to X tons, rising for the third consecutive year after two years of decline. Overall, imports posted buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 496%. Over the period under review, imports of attained the peak figure in 2021 and are expected to retain growth in the near future.

In value terms, imports of malt extract and food preparations of flour, meal, and starches expanded rapidly to $X in 2021. In general, imports continue to indicate pronounced growth. The most prominent rate of growth was recorded in 2014 when imports increased by 107%. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest malt extract and food preparations of flour, meal, and starch supplier to Saudi Arabia, accounting for a 67% share of total imports. Moreover, imports of malt extract and food preparations of flour, meal, and starches from the Netherlands exceeded the figures recorded by the second-largest supplier, Malta (X tons), sixfold. Germany (X tons) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands stood at +44.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malta (-5.9% per year) and Germany (-4.5% per year).

In value terms, Germany ($X), the Netherlands ($X) and Malta ($X) appeared to be the largest malt extract and food preparations of flour, meal, and starch suppliers to Saudi Arabia, with a combined 71% share of total imports. Switzerland, India, the United Arab Emirates, the UK and Malaysia lagged somewhat behind, together accounting for a further 22%.

Switzerland, with a CAGR of +39.8%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average import price for malt extract and food preparations of flour, meal, and starches amounted to $X per ton, shrinking by -33.4% against the previous year. In general, the import price continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 when the average import price increased by 207% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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