Middle East: Vanilla Market 2024

Vanilla Market Size in the Middle East

The Middle Eastern vanilla market dropped to $X in 2022, falling by X% against the previous year. In general, consumption, however, enjoyed a modest expansion. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Vanilla Production in the Middle East

In value terms, vanilla production expanded sharply to $X in 2022 estimated in export price. The total production indicated a pronounced expansion 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 most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

The country with the largest volume of vanilla production was Turkey (X tons), accounting for X% of total volume. Moreover, vanilla production in Turkey exceeded the figures recorded by the second-largest producer, Israel (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Turkey totaled X%.

Vanilla Exports

Exports in the Middle East

For the fifth year in a row, the Middle East recorded growth in overseas shipments of vanilla, which increased by X% to X tons in 2022. In general, exports saw a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, vanilla exports rose rapidly to $X in 2022. Over the period under review, exports saw resilient growth. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. The level of export peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey dominates exports structure, accounting for X tons, which was near X% of total exports in 2022. It was distantly followed by Saudi Arabia (X tons), comprising a X% share of total exports. The following exporters - Israel (X tons) and the United Arab Emirates (X tons) - each resulted at a X% share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. Israel experienced a relatively flat trend pattern. Saudi Arabia (X p.p.), Israel (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Turkey saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the largest vanilla supplying countries in the Middle East were Turkey ($X), Saudi Arabia ($X) and Israel ($X), with a combined X% share of total exports. These countries were followed by the United Arab Emirates, which accounted for a further X%.

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of X%, recorded 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 the Middle East stood at $X per ton in 2022, leveling off at the previous year. Export price indicated noticeable 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, vanilla export price decreased by X% against 2018 indices. The pace of growth was the most pronounced in 2017 an increase of X%. 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.

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 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 (X%), while the other leaders experienced mixed trends in the export price figures.

Vanilla Imports

Imports in the Middle East

After seven years of growth, supplies from abroad of vanilla decreased by X% to X tons in 2022. Overall, imports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then reduced in the following year.

In value terms, vanilla imports stood at $X in 2022. Over the period under review, imports, however, saw buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Syrian Arab Republic represented the main importer of vanilla in the Middle East, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. Saudi Arabia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Iraq (X%). The following importers - the United Arab Emirates (X tons), Turkey (X tons), Lebanon (X tons), Qatar (X tons), Iran (X tons), Jordan (X tons) and Kuwait (X tons) - together made up X% of total imports.

Syrian Arab Republic was also the fastest-growing in terms of the vanilla imports, with a CAGR of X% from 2012 to 2022. At the same time, Qatar (X%), Turkey (X%), the United Arab Emirates (X%), Kuwait (X%), Lebanon (X%), Jordan (X%) and Saudi Arabia (X%) displayed positive paces of growth. By contrast, Iraq (X%) and Iran (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Syrian Arab Republic, Iraq and Qatar increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported vanilla in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports. It was followed by Syrian Arab Republic, 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 importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Syrian Arab Republic (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the 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 ($X per ton), while Jordan ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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