GCC: Maize Starch Market 2024

Maize Starch Market Size in GCC

The GCC maize starch market surged to $X in 2022, with an increase of X% against the previous year. The total consumption indicated pronounced growth 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 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Maize Starch Production in GCC

In value terms, maize starch production rose remarkably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Maize Starch Exports

Exports in GCC

In 2022, the amount of maize (corn) starch exported in GCC stood at X tons, increasing by X% on 2021 figures. Overall, exports showed a resilient expansion. The growth pace was the most rapid in 2021 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

In value terms, maize starch exports skyrocketed to $X in 2022. In general, exports continue to indicate a buoyant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia represented the largest exporter of maize (corn) starch in GCC, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by the United Arab Emirates (X tons), committing a X% share of total exports.

Exports from Saudi Arabia increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia totaled X%.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, increasing by X% against the previous year. Export price indicated temperate growth from 2012 to 2022: its price 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, maize starch export price increased by X% against 2017 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably 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 Saudi Arabia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%).

Maize Starch Imports

Imports in GCC

In 2022, after two years of decline, there was significant growth in overseas purchases of maize (corn) starch, when their volume increased by X% to X tons. Over the period under review, imports saw a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, maize starch imports skyrocketed to $X in 2022. Overall, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

The United Arab Emirates was the major importer of maize (corn) starch in GCC, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2022. It was distantly followed by Kuwait (X tons) and Oman (X tons), together achieving a X% share of total imports. Qatar (X tons) and Bahrain (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to maize starch imports into the United Arab Emirates stood at X%. At the same time, Qatar (X%), Oman (X%), Kuwait (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Kuwait and Qatar increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Oman (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, rising by X% against the previous year. Import price indicated temperate growth from 2012 to 2022: its price 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, maize starch import price increased by X% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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