GCC: Sugar Beet Market 2024

Sugar Beet Market Size in GCC

The GCC sugar beet market skyrocketed to $X in 2022, growing by X% against the previous year. Over the period under review, consumption recorded resilient growth. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in years to come.

Sugar Beet Production in GCC

In value terms, sugar beet production totaled $X in 2022 estimated in export price. Over the period under review, production continues to indicate a mild setback. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Saudi Arabia (X tons) constituted the country with the largest volume of sugar beet production, accounting for X% of total volume. Moreover, sugar beet production in Saudi Arabia exceeded the figures recorded by the second-largest producer, the United Arab Emirates (X tons), threefold.

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

Sugar Beet Exports

Exports in GCC

Sugar beet exports shrank rapidly to X tons in 2022, with a decrease of X% compared with the previous year. Overall, exports, however, showed a resilient increase. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, sugar beet exports soared to $X in 2022. In general, exports, however, saw a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Saudi Arabia (X tons) represented the key exporter of sugar beet, constituting X% of total exports. It was distantly followed by the United Arab Emirates (X tons), creating a X% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the sugar beet exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. From 2012 to 2022, the share of Saudi Arabia increased by X percentage points.

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

In Saudi Arabia, sugar beet exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, jumping by X% against the previous year. Export price indicated modest growth 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, sugar beet export price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2018 when the export price increased by X%. Over the period under review, the export prices attained the peak figure in 2022 and is expected to retain growth in the near future.

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 amounted to $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%).

Sugar Beet Imports

Imports in GCC

In 2022, approx. X tons of sugar beet were imported in GCC; picking up by X% on the previous year. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2013 with an increase of X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, sugar beet imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Oman (X tons) represented the largest importer of sugar beet, committing X% of total imports. It was distantly followed by the United Arab Emirates (X tons), creating a X% share of total imports. Saudi Arabia (X tons) held a minor share of total imports.

Oman was also the fastest-growing in terms of the sugar beet imports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of Oman (X p.p.) and Saudi Arabia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, the largest sugar beet importing markets in GCC were Oman ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), with a combined X% share of total imports.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt downturn. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 the United Arab Emirates ($X per ton), while Saudi Arabia ($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 a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :