Saudi Arabia: Pyrethrum And Peppermint Market 2024

Pyrethrum And Peppermint Market Size in Saudi Arabia

The Saudi pyrethrum and peppermint market fell rapidly to $X in 2021, dropping by -28.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a slight slump. As a result, consumption attained the peak level of $X, and then plummeted in the following year.

Pyrethrum And Peppermint Exports

Exports from Saudi Arabia

In 2021, overseas shipments of pyrethrum and peppermint were finally on the rise to reach X tons after two years of decline. In general, exports showed a prominent increase. The growth pace was the most rapid in 2015 with an increase of 159% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, pyrethrum and peppermint exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Bahrain (X tons) was the main destination for pyrethrum and peppermint exports from Saudi Arabia, accounting for a 80% share of total exports. Moreover, pyrethrum and peppermint exports to Bahrain exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), ninefold. Kuwait (X tons) ranked third in terms of total exports with a 3.8% share.

From 2012 to 2021, the average annual growth rate of volume to Bahrain amounted to +36.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+21.2% per year) and Kuwait (+11.2% per year).

In value terms, the largest markets for pyrethrum and peppermint exported from Saudi Arabia were the United Arab Emirates ($X), Oman ($X) and Kuwait ($X), with a combined 74% share of total exports.

In terms of the main countries of destination, Oman, with a CAGR of +99.7%, 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 average pyrethrum and peppermint export price amounted to $X per ton, growing by 105% against the previous year. In general, the export price, however, saw a pronounced contraction. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Oman ($X per ton), while the average price for exports to Bahrain ($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 Algeria (+37.7%), while the prices for the other major destinations experienced more modest paces of growth.

Pyrethrum And Peppermint Imports

Imports into Saudi Arabia

In 2021, after two years of growth, there was significant decline in purchases abroad of pyrethrum and peppermint, when their volume decreased by -26.8% to X tons. Overall, imports continue to indicate a noticeable curtailment. The growth pace was the most rapid in 2020 when imports increased by 158% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, pyrethrum and peppermint imports shrank modestly to $X in 2021. In general, imports, however, saw a resilient increase. The pace of growth appeared the most rapid in 2018 when imports increased by 65% against the previous year. Over the period under review, imports hit record highs at $X in 2020, and then contracted modestly in the following year.

Imports by Country

Syrian Arab Republic (X tons), Indonesia (X tons) and India (X tons) were the main suppliers of pyrethrum and peppermint imports to Saudi Arabia, with a combined 71% share of total imports. Bangladesh, Egypt, Vietnam, China and Ethiopia lagged somewhat behind, together comprising a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +45.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X) constituted the largest supplier of pyrethrum and peppermint to Saudi Arabia, comprising 72% of total imports. The second position in the ranking was held by Vietnam ($X), with a 7.6% share of total imports. It was followed by Syrian Arab Republic, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value from Indonesia amounted to +19.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+158.9% per year) and Syrian Arab Republic (+20.3% per year).

Import Prices by Country

In 2021, the average pyrethrum and peppermint import price amounted to $X per ton, surging by 36% against the previous year. In general, the import price enjoyed significant growth. The pace of growth appeared the most rapid in 2018 an increase of 362%. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+19.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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