MENA: Vanilla Market 2023

Vanilla Market Size in MENA

In 2022, the MENA's vanilla market decreased by -14.9% to $X, falling for the fifth year in a row after four years of growth. Overall, consumption, however, continues to indicate a tangible expansion. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Vanilla Production in MENA

In value terms, vanilla production rose remarkably to $X in 2022 estimated in export price. The total production indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 -9.3% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 32%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Turkey (X tons) remains the largest vanilla producing country in MENA, comprising approx. 99.9% of total volume.

From 2012 to 2022, the average annual rate of growth in terms of volume in Turkey stood at +2.5%.

Vanilla Exports

Exports in MENA

Vanilla exports rose markedly to X tons in 2022, increasing by 6.3% compared with the previous year. Over the period under review, exports showed a buoyant expansion. The pace of growth was the most pronounced in 2019 when exports increased by 100% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, vanilla exports reduced to $X in 2022. In general, exports posted a prominent increase. The pace of growth appeared the most rapid in 2018 when exports increased by 111%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Turkey prevails in exports structure, recording X tons, which was approx. 89% of total exports in 2022. It was distantly followed by Saudi Arabia (X tons), generating a 6% share of total exports. The United Arab Emirates (X tons) held a relatively small share of total exports.

Exports from Turkey increased at an average annual rate of +5.6% from 2012 to 2022. At the same time, the United Arab Emirates (+31.0%) and Saudi Arabia (+5.5%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in MENA, with a CAGR of +31.0% from 2012-2022. Saudi Arabia (+6 p.p.) and the United Arab Emirates (+3.3 p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by -10.2% from 2012 to 2022, respectively.

In value terms, Turkey ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) were the countries with the highest levels of exports in 2022, with a combined 80% share of total exports.

Among the main exporting countries, the United Arab Emirates, with a CAGR of +37.1%, saw the highest growth rate of 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 2022, with a decrease of -15.4% against the previous year. In general, the export price, however, showed a modest increase. The most prominent rate of growth was recorded in 2016 an increase of 55%. Over the period under review, the export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while Turkey ($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 (+12.1%), while the other leaders experienced mixed trends in the export price figures.

Vanilla Imports

Imports in MENA

In 2022, purchases abroad of vanilla decreased by -3% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of 53% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then declined in the following year.

In value terms, vanilla imports shrank to $X in 2022. Over the period under review, imports, however, enjoyed a buoyant increase. The pace of growth was the most pronounced in 2017 when imports increased by 72% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Syrian Arab Republic represented the largest importer of vanilla in MENA, with the volume of imports finishing at X tons, which was approx. 48% of total imports in 2022. It was distantly followed by Saudi Arabia (X tons) and Iraq (X tons), together generating a 26% share of total imports. The following importers - the United Arab Emirates (X tons), Turkey (X tons), Lebanon (X tons), Egypt (X tons), Qatar (X tons), Iran (X tons), Jordan (X tons) and Kuwait (X tons) - together made up 21% of total imports.

Syrian Arab Republic was also the fastest-growing in terms of the vanilla imports, with a CAGR of +41.7% from 2012 to 2022. At the same time, Qatar (+30.3%), Egypt (+20.8%), Turkey (+18.4%), the United Arab Emirates (+17.3%), Kuwait (+16.6%), Lebanon (+15.5%), Jordan (+11.8%) and Saudi Arabia (+11.2%) displayed positive paces of growth. By contrast, Iraq (-13.9%) and Iran (-15.1%) illustrated a downward trend over the same period. Syrian Arab Republic (+48 p.p.), Iraq (+4.6 p.p.) and Qatar (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia and Iran saw its share reduced by -6.6% and -44.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported vanilla in MENA, comprising 37% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 15% share of total imports. It was followed by Syrian Arab Republic, with a 12% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +35.7%. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (+8.9% per year) and Syrian Arab Republic (+39.2% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2022, waning by -6.2% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 40% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Jordan ($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 (+15.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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