Iran: Glucose Market 2024

Glucose Market Size in Iran

In 2023, the Iranian glucose market decreased by X% to $X, falling for the second consecutive year after two years of growth. Overall, consumption, however, showed a slight decrease. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2023, consumption stood at a somewhat lower figure.

Glucose Production in Iran

In value terms, glucose production reduced to $X in 2023 estimated in export price. Overall, production saw a mild setback. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Glucose production peaked at $X in 2016; however, from 2017 to 2023, production stood at a somewhat lower figure.

Glucose Exports

Exports from Iran

In 2023, shipments abroad of glucose and glucose syrup increased by X% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, glucose exports reached $X in 2023. Overall, exports, however, faced a abrupt decline. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

Exports by Country

Turkey (X tons), Georgia (X tons) and Armenia (X tons) were the main destinations of glucose exports from Iran, with a combined X% share of total exports. The UK and Azerbaijan lagged somewhat behind, together accounting for a further X%.

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

In value terms, Turkey ($X), the UK ($X) and Georgia ($X) were the largest markets for glucose exported from Iran worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, the UK, with a CAGR of X%, saw 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 average glucose export price stood at $X per ton in 2023, waning by X% against the previous year. Overall, export price indicated a pronounced expansion 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, glucose export price decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Oman (X%), while the prices for the other major destinations experienced more modest paces of growth.

Glucose Imports

Imports into Iran

In 2023, purchases abroad of glucose and glucose syrup increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, imports continue to indicate pronounced growth. Imports peaked at X tons in 2016; however, from 2017 to 2023, imports remained at a lower figure.

In value terms, glucose imports surged to $X in 2023. Over the period under review, imports continue to indicate strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), China (X tons) and Turkey (X tons) were the main suppliers of glucose imports to Iran, with a combined X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X) constituted the largest supplier of glucose and glucose syrup to Iran, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports.

From 2012 to 2023, the average annual growth rate of value from the Netherlands stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Turkey (X% per year).

Import Prices by Country

In 2023, the average glucose import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, import price indicated a prominent expansion 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, glucose import price increased by X% against 2017 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for China ($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 prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform