GCC: Market for Broad Beans And Horse Beans (Dry) 2024

Market Size for Broad Beans And Horse Beans (Dry) in GCC

For the fourth consecutive year, the GCC market for broad beans and horse beans (dry) recorded decline in sales value, which decreased by X% to $X in 2023. Overall, consumption recorded a mild slump. As a result, consumption reached the peak level of $X. From 2020 to 2023, the growth of the market failed to regain momentum.

Production of Broad Beans And Horse Beans (Dry) in GCC

In value terms, broad bean and horse bean production totaled $X in 2023 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with a decrease of X%. The level of production peaked in 2023 and is expected to retain growth in the near future.

The country with the largest volume of broad bean and horse bean production was Saudi Arabia (X kg), comprising approx. X% of total volume.

From 2012 to 2023, the average annual growth rate of volume in Saudi Arabia was relatively modest.

Exports of Broad Beans And Horse Beans (Dry)

Exports in GCC

In 2023, approx. X tons of broad beans and horse beans (dry) were exported in GCC; surging by X% against the year before. In general, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, broad bean and horse bean exports skyrocketed to $X in 2023. Overall, exports showed a buoyant increase. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2023. Saudi Arabia (X tons) held the second position in the ranking, followed by Oman (X tons). All these countries together took near X% share of total exports. Bahrain (X tons) held a relatively small share of total exports.

From 2012 to 2023, average annual rates of growth with regard to broad bean and horse bean exports from the United Arab Emirates stood at X%. At the same time, Oman (X%), Bahrain (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. While the share of the United Arab Emirates (X p.p.) and Oman (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest broad bean and horse bean supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2023, approximately equating the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2023, the export prices remained at a somewhat lower figure.

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 Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

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

Imports of Broad Beans And Horse Beans (Dry)

Imports in GCC

In 2023, broad bean and horse bean imports in GCC surged to X tons, picking up by X% against the year before. Overall, imports, however, saw a relatively flat trend pattern. The volume of import peaked at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, broad bean and horse bean imports soared to $X in 2023. Over the period under review, imports, however, continue to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2023, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) prevails in imports structure, together committing X% of total imports. The following importers - Kuwait (X tons) and Bahrain (X tons) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Bahrain (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X) constituted the countries with the highest levels of imports in 2023, together accounting for X% of total imports. These countries were followed by Bahrain, which accounted for a further X%.

Bahrain, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price recorded a slight decrease. The most prominent rate of growth was recorded in 2019 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2020 to 2023, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform