MENA: Frozen Potato Market 2023

Frozen Potato Market Size in MENA

The MENA's frozen potato market was finally on the rise to reach $X in 2021, after three years of decline. The market value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Frozen Potato Production in MENA

In value terms, frozen potato production amounted to $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of 22% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Frozen Potato Exports

Exports in MENA

In 2021, exports of frozen potatoes in MENA soared to X tons, picking up by 59% compared with the previous year's figure. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, frozen potato exports surged to $X in 2021. Total exports indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Turkey (X tons) was the largest exporter of frozen potatoes, generating 51% of total exports. Egypt (X tons) held a 33% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (5.3%). Syrian Arab Republic (X tons), Iran (X tons) and Lebanon (X tons) took a minor share of total exports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +49.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Egypt ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 92% of total exports.

Among the main exporting countries, Turkey, with a CAGR of +43.0%, recorded the highest rates of growth with regard to 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

The export price in MENA stood at $X per ton in 2021, reducing by -5.6% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.9%. The most prominent rate of growth was recorded in 2013 when the export price increased by 74% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lebanon (+2.7%), while the other leaders experienced mixed trends in the export price figures.

Frozen Potato Imports

Imports in MENA

In 2021, the amount of frozen potatoes imported in MENA skyrocketed to X tons, jumping by 17% on 2020 figures. Total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +25.0% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen potato imports soared to $X in 2021. Total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -1.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 20%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Saudi Arabia was the main importing country with an import of around X tons, which recorded 46% of total imports. The United Arab Emirates (X tons) ranks second in terms of the total imports with a 12% share, followed by Jordan (8.3%), Kuwait (7.4%) and Iraq (6%). Morocco (X tons), Oman (X tons), Qatar (X tons), Bahrain (X tons) and Israel (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to frozen potato imports into Saudi Arabia stood at +5.7%. At the same time, Israel (+38.1%), Iraq (+16.2%), Morocco (+10.2%), Jordan (+6.7%), Oman (+6.6%), Qatar (+6.5%), Bahrain (+5.8%) and Kuwait (+3.5%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in MENA, with a CAGR of +38.1% from 2012-2021. By contrast, the United Arab Emirates (-2.9%) illustrated a downward trend over the same period. Saudi Arabia (+4 p.p.), Iraq (+3.7 p.p.) and Israel (+2.5 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -11.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported frozen potatoes in MENA, comprising 47% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 12% share of total imports. It was followed by Kuwait, with an 8.4% share.

In Saudi Arabia, frozen potato imports expanded at an average annual rate of +5.0% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (+2.6% per year) and Kuwait (+5.2% per year).

Import Prices by Country

In 2021, the import price in MENA amounted to $X per ton, standing approx. at the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the import price increased by 26%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Qatar ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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