GCC: Hop Market 2024

Hop Market Size in GCC

In 2022, the GCC hop market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. In general, consumption, however, showed a pronounced curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Hop Production in GCC

In value terms, hop production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, production reached the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

The United Arab Emirates (X tons) remains the largest hop producing country in GCC, accounting for X% of total volume. Moreover, hop production in the United Arab Emirates exceeded the figures recorded by the second-largest producer, Saudi Arabia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in the United Arab Emirates was relatively modest.

Hop Exports

Exports in GCC

In 2022, overseas shipments of hops decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, posted a slight expansion. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons, and then shrank dramatically in the following year.

In value terms, hop exports declined notably to $X in 2022. Overall, exports, however, enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then reduced notably in the following year.

Exports by Country

In 2022, the United Arab Emirates (X tons) represented the largest exporter of hops, comprising X% of total exports. It was distantly followed by Saudi Arabia (X tons), making up a X% share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Saudi Arabia (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest hop supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Hop Imports

Imports in GCC

Hop imports shrank to X tons in 2022, which is down by X% against 2021 figures. Overall, imports showed a significant curtailment. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, hop imports dropped to $X in 2022. Over the period under review, imports faced a abrupt descent. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Kuwait was the major importer of hops in GCC, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. Oman (X kg) took a X% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (X%), Saudi Arabia (X%) and Qatar (X%). Bahrain (X kg) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to hop imports into Kuwait stood at X%. At the same time, Qatar (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Oman (X%), the United Arab Emirates (X%), Bahrain (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. Kuwait (X p.p.), Oman (X p.p.), the United Arab Emirates (X p.p.) and Qatar (X p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Kuwait ($X) constitutes the largest market for imported hops in GCC, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

In Kuwait, hop imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Oman (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price continues to indicate a buoyant increase. The pace of growth appeared the most rapid in 2013 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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