GCC: Canned Food Market 2024

Canned Food Market Size in GCC

The GCC canned food market dropped slightly to $X in 2022, which is down by X% against the previous year. The total consumption indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2018 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Canned Food Production in GCC

In value terms, canned food production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a remarkable increase. The pace of growth was the most pronounced in 2014 with an increase of X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Canned Food Exports

Exports in GCC

For the fourth consecutive year, GCC recorded growth in overseas shipments of canned food, which increased by X% to X tons in 2022. Over the period under review, exports enjoyed prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, canned food exports skyrocketed to $X in 2022. Overall, exports posted a resilient expansion. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

In 2022, the United Arab Emirates (X tons) represented the main exporter of canned food, achieving X% of total exports. It was distantly followed by Saudi Arabia (X tons), creating a X% share of total exports. Kuwait (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the canned food exports, with a CAGR of X% from 2012 to 2022. At the same time, Kuwait (X%) and Saudi Arabia (X%) displayed positive paces of growth. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest canned food supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

In the United Arab Emirates, canned food exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Kuwait (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with a decrease of X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then shrank in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced a decline in the export price figures.

Canned Food Imports

Imports in GCC

In 2022, after two years of decline, there was significant growth in supplies from abroad of canned food, when their volume increased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2019 with an increase of X%. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, canned food imports rose significantly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when imports increased by X%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Saudi Arabia (X tons), distantly followed by the United Arab Emirates (X tons), Kuwait (X tons), Oman (X tons), Qatar (X tons) and Bahrain (X tons) represented the key importers of canned food, together generating X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported canned food in GCC, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

In Saudi Arabia, canned food imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, remaining stable against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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