GCC: Market for Spices Except Pepper or Ginger 2024

Market Size for Spices Except Pepper or Ginger in GCC

In 2022, the GCC market for spices except pepper or ginger decreased by X% to $X, falling for the second year in a row after two years of growth. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Spices Except Pepper or Ginger in GCC

In value terms, spices except pepper or ginger production rose slightly to $X in 2022 estimated in export price. The total production indicated a slight increase from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

The country with the largest volume of spices except pepper or ginger production was Kuwait (X tons), comprising approx. X% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in Kuwait stood at X%.

In 2022, the average yield of spices except pepper or ginger in GCC stood at X tons per ha, approximately equating the previous year. Overall, the yield, however, recorded a slight curtailment. The pace of growth appeared the most rapid in 2017 when the yield increased by X%. Over the period under review, the spices except pepper or ginger yield hit record highs at X tons per ha in 2012; however, from 2013 to 2022, the yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of spices except pepper or ginger in GCC was estimated at X ha, therefore, remained relatively stable against the previous year's figure. In general, the harvested area saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the harvested area increased by X%. The level of harvested area peaked at X ha in 2012; however, from 2013 to 2022, the harvested area remained at a lower figure.

Exports of Spices Except Pepper or Ginger

Exports in GCC

In 2022, shipments abroad of spices except pepper or ginger increased by X% to X tons, rising for the third year in a row after two years of decline. Over the period under review, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is likely to see steady growth in the near future.

In value terms, spices except pepper or ginger exports soared to $X in 2022. In general, exports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The United Arab Emirates dominates exports structure, reaching X tons, which was near X% of total exports in 2022. Saudi Arabia (X tons), Bahrain (X tons) and Kuwait (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the spices except pepper or ginger exports, with a CAGR of X% from 2012 to 2022. At the same time, Kuwait (X%) and Bahrain (X%) displayed positive paces of growth. By contrast, 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 Bahrain (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest spices except pepper or ginger supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports. It was followed by Bahrain, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Bahrain (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the export price, however, saw a slight reduction. The pace of growth was the most pronounced in 2015 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices remained at a somewhat lower figure.

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

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

Imports of Spices Except Pepper or Ginger

Imports in GCC

In 2022, after three years of growth, there was significant decline in purchases abroad of spices except pepper or ginger, when their volume decreased by X% to X tons. Total imports indicated modest growth 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, imports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, spices except pepper or ginger imports fell to $X in 2022. Total imports indicated resilient growth from 2012 to 2022: its value 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. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) prevails in imports structure, together committing X% of total imports. Kuwait (X tons) ranks next in terms of the total imports with an X% share, followed by Oman (X%) and Qatar (X%). Bahrain (X tons) followed a long way behind the leaders.

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

In value terms, Saudi Arabia ($X) constitutes the largest market for imported spices except pepper or ginger in GCC, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Saudi Arabia totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, with an increase of X% against the previous year. Import price indicated a noticeable expansion from 2012 to 2022: its price 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, spices except pepper or ginger import price decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Kuwait ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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