Saudi Arabia: Packaging Materials Market 2024

Packaging Materials Market Size in Saudi Arabia

In 2022, the Saudi packaging materials market decreased by -13.1% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption continues to indicate a pronounced descent. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Packaging Materials Production in Saudi Arabia

In value terms, packaging materials production totaled $X in 2022 estimated in export price. Overall, production showed a mild slump. The pace of growth was the most pronounced in 2013 when the production volume increased by 25% against the previous year. Packaging materials production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Packaging Materials Exports

Exports from Saudi Arabia

Packaging materials exports from Saudi Arabia surged to X tons in 2022, rising by 31% compared with the previous year. In general, exports, however, showed a slight shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 55% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, packaging materials exports rose slightly to $X in 2022. Over the period under review, exports, however, showed a pronounced descent. The most prominent rate of growth was recorded in 2013 when exports increased by 24%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Jordan (X tons), China (X tons) and Yemen (X tons) were the main destinations of packaging materials exports from Saudi Arabia, together comprising 53% 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 China (with a CAGR of +59.5%), while the other leaders experienced more modest paces of growth.

In value terms, Jordan ($X), Yemen ($X) and the United Arab Emirates ($X) were the largest markets for packaging materials exported from Saudi Arabia worldwide, together comprising 46% of total exports. China, Egypt, Kuwait, Bahrain, Kenya, Sri Lanka, Ethiopia and Nicaragua lagged somewhat behind, together comprising a further 37%.

China, with a CAGR of +66.8%, saw the highest growth rate of the value of exports, in terms of 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

In 2022, the average packaging materials export price amounted to $X per ton, reducing by -21.4% against the previous year. In general, the export price showed a slight contraction. The growth pace was the most rapid in 2021 an increase of 55%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to China ($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 the United Arab Emirates (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.

Packaging Materials Imports

Imports into Saudi Arabia

In 2022, imports of packaging materials into Saudi Arabia reduced notably to X tons, shrinking by -22.4% against the previous year's figure. In general, imports saw a noticeable curtailment. The most prominent rate of growth was recorded in 2015 when imports increased by 18% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, packaging materials imports shrank rapidly to $X in 2022. Over the period under review, imports continue to indicate a pronounced slump. The growth pace was the most rapid in 2013 with an increase of 18%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of packaging materials to Saudi Arabia, accounting for a 27% share of total imports. Moreover, packaging materials imports from India exceeded the figures recorded by the second-largest supplier, Sweden (X tons), threefold. Germany (X tons) ranked third in terms of total imports with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to +30.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+12.7% per year) and Germany (-6.1% per year).

In value terms, India ($X), Sweden ($X) and China ($X) were the largest packaging materials suppliers to Saudi Arabia, together accounting for 43% of total imports. Finland, Germany, Brazil, the United Arab Emirates, New Zealand, Spain, France, the United States, Italy and Hungary lagged somewhat behind, together comprising a further 44%.

New Zealand, with a CAGR of +41.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average packaging materials import price stood at $X per ton in 2022, waning by -9% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 22%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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