GCC: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in GCC

The GCC margarine and shortening market reduced rapidly to $X in 2022, with a decrease of X% against the previous year. Overall, consumption continues to indicate a abrupt curtailment. As a result, consumption reached the peak level of $X, and then shrank markedly in the following year.

Margarine And Shortening Production in GCC

In value terms, margarine and shortening production dropped to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Margarine And Shortening Exports

Exports in GCC

For the third year in a row, GCC recorded growth in overseas shipments of margarine and shortening, which increased by X% to X tons in 2022. Total exports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, margarine and shortening exports skyrocketed to $X in 2022. Overall, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

In 2022, the United Arab Emirates (X tons) was the largest exporter of margarine and shortening, comprising X% of total exports. Oman (X tons) ranks second in terms of the total exports with a X% share, followed by Saudi Arabia (X%).

The United Arab Emirates was also the fastest-growing in terms of the margarine and shortening exports, with a CAGR of X% from 2012 to 2022. Oman (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) and Oman (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest margarine and shortening supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Oman ($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 stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per ton), while the United Arab Emirates ($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 mixed trends in the export price figures.

Margarine And Shortening Imports

Imports in GCC

In 2022, the amount of margarine and shortening imported in GCC dropped rapidly to X tons, with a decrease of X% on the previous year's figure. Over the period under review, imports recorded a perceptible downturn. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, margarine and shortening imports reduced dramatically to $X in 2022. Overall, imports continue to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then shrank markedly in the following year.

Imports by Country

In 2022, Saudi Arabia (X tons) was the major importer of margarine and shortening, generating X% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a X% share, followed by Kuwait (X%), Qatar (X%), Bahrain (X%) and Oman (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Qatar (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest margarine and shortening importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined X% share of total imports. Qatar, Bahrain and Oman lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Qatar, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the import price in GCC amounted to $X per ton, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Qatar ($X per ton) and the United Arab Emirates ($X per ton), while Oman ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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