Middle East: Glucose Market 2024

Glucose Market Size in the Middle East

In 2023, the Middle Eastern glucose market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. In general, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Glucose Production in the Middle East

In value terms, glucose production shrank slightly to $X in 2023 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of production peaked at $X in 2022, and then reduced slightly in the following year.

Glucose Exports

Exports in the Middle East

In 2023, overseas shipments of glucose and glucose syrup decreased by X% to X tons, falling for the second year in a row after three years of growth. In general, exports, however, recorded a buoyant increase. 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 failed to regain momentum.

In value terms, glucose exports declined to $X in 2023. Over the period under review, exports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2015 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2022, and then contracted in the following year.

Exports by Country

In 2023, Turkey (X tons) was the key exporter of glucose and glucose syrup, committing X% of total exports. It was distantly followed by Saudi Arabia (X tons), generating a X% share of total exports.

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%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. While the share of Saudi Arabia (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 ($X) remains the largest glucose supplier in the Middle East, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a X% share of total exports.

In Turkey, glucose exports expanded at an average annual rate of X% over the period from 2012-2023.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2023, which is down by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Saudi Arabia amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Glucose Imports

Imports in the Middle East

Glucose imports shrank to X tons in 2023, waning by X% on 2022. 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 in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

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

Imports by Country

Syrian Arab Republic (X tons), the United Arab Emirates (X tons), Iraq (X tons) and Turkey (X tons) represented roughly X% of total imports in 2023. Jordan (X tons) ranks next in terms of the total imports with a X% share, followed by Iran (X%), Yemen (X%) and Kuwait (X%).

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading 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, the largest glucose importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Syrian Arab Republic ($X), with a combined X% share of total imports. Iraq, Iran, Jordan, Kuwait and Yemen lagged somewhat behind, together comprising a further X%.

Iraq, 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, therefore, remained relatively stable against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2022 an increase of X%. As a result, import price attained the peak level of $X per ton, leveling off in the following year.

Prices varied noticeably by country of destination: 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