MENA: Glucose Market 2024

Glucose Market Size in MENA

In 2023, the MENA's glucose market increased by X% to $X, rising for the fourth year in a row after six years of decline. In general, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2013; afterwards, it flattened through to 2023.

Glucose Production in MENA

In value terms, glucose production rose to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2022 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level in 2023 and is expected to retain growth in the near future.

Glucose Exports

Exports in MENA

In 2023, overseas shipments of glucose and glucose syrup decreased by X% to X tons, falling for the second consecutive year after ten years of growth. Overall, exports, however, saw resilient growth. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, glucose exports shrank to $X in 2023. Over the period under review, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of export peaked at $X in 2022, and then shrank in the following year.

Exports by Country

Turkey was the main exporter of glucose and glucose syrup in MENA, with the volume of exports recording X tons, which was approx. X% of total exports in 2023. Egypt (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Saudi Arabia (X%).

From 2012 to 2023, average annual rates of growth with regard to glucose exports from Turkey stood at X%. At the same time, Saudi Arabia (X%) and Egypt (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2023. While the share of Saudi Arabia (X p.p.) and Egypt (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Turkey (X p.p.) displayed negative dynamics.

In value terms, Turkey ($X), Egypt ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Saudi Arabia, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries 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 2023, with an increase of X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2022 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Egypt ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Egypt (X%), while the other leaders experienced a decline in the export price figures.

Glucose Imports

Imports in MENA

In 2023, approx. X tons of glucose and glucose syrup were imported in MENA; reducing by X% compared with the year before. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

In value terms, glucose imports declined to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2023, Algeria (X tons), Syrian Arab Republic (X tons), the United Arab Emirates (X tons), Iraq (X tons), Tunisia (X tons) and Turkey (X tons) represented the largest importer of glucose and glucose syrup in MENA, committing X% of total import. Jordan (X tons) held the next position in the ranking, followed by Morocco (X tons). All these countries together took approx. X% share of total imports. Iran (X tons), Yemen (X tons), Kuwait (X tons), Oman (X tons) and Saudi Arabia (X tons) followed a long way behind the leaders.

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

In value terms, Turkey ($X), Algeria ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Syrian Arab Republic, Tunisia, Iraq, Iran, Morocco, Jordan, Saudi Arabia, Oman, Kuwait and Yemen lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Morocco, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, waning by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X%. As a result, import price reached the peak level of $X per ton, and then contracted slightly in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Iran ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform