Middle East: Biological Product Market 2024

Biological Product Market Size in the Middle East

The Middle Eastern biological product market declined slightly to $X in 2023, shrinking by X% against the previous year. In general, consumption saw a measured increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Biological Product Production in the Middle East

In value terms, biological product production stood at $X in 2023 estimated in export price. Over the period under review, production continues to indicate a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Biological Product Exports

Exports in the Middle East

In 2023, approx. X tons of biological products were exported in the Middle East; surging by X% on the previous year. Overall, exports showed a notable increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, biological product exports skyrocketed to $X in 2023. In general, exports posted prominent growth. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Turkey was the largest exporter of biological products in the Middle East, with the volume of exports amounting to X tons, which was near X% of total exports in 2023. The United Arab Emirates (X tons) ranks second in terms of the total exports with a X% share, followed by Jordan (X%) and Iran (X%). The following exporters - Saudi Arabia (X tons) and Israel (X tons) - together made up X% of total exports.

From 2012 to 2023, average annual rates of growth with regard to biological product exports from Turkey stood at X%. At the same time, Jordan (X%), the United Arab Emirates (X%), Israel (X%) and Iran (X%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. Saudi Arabia experienced a relatively flat trend pattern. From 2012 to 2023, the share of the United Arab Emirates and Jordan increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest biological product supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Israel ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with an X% share.

In Turkey, biological product exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Israel (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, surging by X% against the previous year. Export price indicated a remarkable increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, biological product export price increased by X% against 2021 indices. The pace of growth was the most pronounced in 2013 an increase of X% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 to 2023, the export prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced more modest paces of growth.

Biological Product Imports

Imports in the Middle East

Biological product imports contracted modestly to X tons in 2023, remaining relatively unchanged against 2022. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, biological product imports surged to $X in 2023. In general, imports, however, continue to indicate a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of biological products, namely Turkey, Iraq and Saudi Arabia, represented more than half of total import. Iran (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Lebanon (X%), Oman (X%), Yemen (X%), the United Arab Emirates (X%), Jordan (X%) and Bahrain (X%).

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bahrain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Saudi Arabia ($X) and Iran ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

Saudi Arabia, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, rising by X% against the previous year. Overall, the import price showed a buoyant increase. The pace of growth was the most pronounced in 2022 an increase of X%. Over the period under review, import prices reached the maximum in 2023 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X,357 per ton), while Yemen ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform