Saudi Arabia: Market for Nuts (Prepared Or Preserved) 2023

Market Size for Nuts (Prepared Or Preserved) in Saudi Arabia

In 2021, the Saudi nuts (prepared or preserved) market decreased by -17.5% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption, however, recorded prominent growth. Nuts (prepared or preserved) consumption peaked at $X in 2020, and then declined remarkably in the following year.

Production of Nuts (Prepared Or Preserved) in Saudi Arabia

In value terms, nuts (prepared or preserved) production reduced markedly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2016 with an increase of 131% against the previous year. Nuts (prepared or preserved) production peaked at $X in 2020, and then reduced remarkably in the following year.

Exports of Nuts (Prepared Or Preserved)

Exports from Saudi Arabia

In 2021, shipments abroad of nuts (prepared or preserved) increased by 13% to X tons, rising for the second consecutive year after two years of decline. Overall, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 228%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, nuts (prepared or preserved) exports surged to $X in 2021. Over the period under review, exports continue to indicate a significant increase. The growth pace was the most rapid in 2013 with an increase of 85%. The exports peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Kuwait (X tons), Turkey (X tons) and Bahrain (X tons) were the main destinations of nuts (prepared or preserved) exports from Saudi Arabia, together comprising 74% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +83.6%), while the other leaders experienced more modest paces of growth.

In value terms, Kuwait ($X) remains the key foreign market for nuts (prepared or preserved) exports from Saudi Arabia, comprising 49% of total exports. The second position in the ranking was held by Bahrain ($X), with a 20% share of total exports. It was followed by Turkey, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to Kuwait totaled +39.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+23.2% per year) and Turkey (+63.6% per year).

Export Prices by Country

In 2021, the average nuts (prepared or preserved) export price amounted to $X per ton, surging by 16% against the previous year. Over the period under review, the export price recorded prominent growth. The pace of growth was the most pronounced in 2018 an increase of 143% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Australia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+17.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nuts (Prepared Or Preserved)

Imports into Saudi Arabia

After two years of growth, purchases abroad of nuts (prepared or preserved) decreased by -10.3% to X tons in 2021. In general, total imports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 75% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, nuts (prepared or preserved) imports soared to $X in 2021. Over the period under review, total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% 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 +38.4% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 45% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X tons), Syrian Arab Republic (X tons) and Bangladesh (X tons) were the main suppliers of nuts (prepared or preserved) imports to Saudi Arabia, with a combined 44% share of total imports. These countries were followed by the United States, India, Greece, Italy, the United Arab Emirates, Jordan, Kuwait, China, Georgia and Lebanon, which together accounted for a further 42%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +31.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Syrian Arab Republic ($X) constituted the largest supplier of nuts (prepared or preserved) to Saudi Arabia, comprising 29% of total imports. The second position in the ranking was held by the United States ($X), with a 10% share of total imports. It was followed by Italy, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Syrian Arab Republic stood at +24.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-2.1% per year) and Italy (+40.6% per year).

Import Prices by Country

The average nuts (prepared or preserved) import price stood at $X per ton in 2021, with an increase of 38% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Kuwait ($X per ton), while the price for India ($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 (+19.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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