MENA: Caramel Market 2024

Caramel Market Size in MENA

The MENA's caramel market was finally on the rise to reach $X in 2022, after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Caramel Production in MENA

In value terms, caramel production shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Caramel Exports

Exports in MENA

After six years of growth, shipments abroad of caramel decreased by X% to X tons in 2022. Over the period under review, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2021, and then dropped significantly in the following year.

In value terms, caramel exports skyrocketed to $X in 2022. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Exports by Country

Turkey represented the key exporting country with an export of about X tons, which reached X% of total exports. The United Arab Emirates (X tons) held the second position in the ranking, distantly followed by Iran (X tons) and Tunisia (X tons). All these countries together held approx. X% share of total exports. The following exporters - Israel (X tons), Bahrain (X tons) and Saudi Arabia (X tons) - each resulted at a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to caramel exports from Turkey stood at X%. At the same time, Bahrain (X%), the United Arab Emirates (X%), Iran (X%), Israel (X%), Tunisia (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. While the share of Turkey (X p.p.), the United Arab Emirates (X p.p.) and Bahrain (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Saudi Arabia (X p.p.) and Tunisia (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 ($X), Turkey ($X) and Tunisia ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports. Iran, Israel, Saudi Arabia and Bahrain lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Bahrain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, 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 2022, picking up by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Turkey ($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 more modest paces of growth.

Caramel Imports

Imports in MENA

In 2022, overseas purchases of caramel increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume 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 2014 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, caramel imports surged to $X in 2022. Total imports indicated resilient 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. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Turkey (X tons), Algeria (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons), Egypt (X tons), Israel (X tons) and Iraq (X tons) was the key importer of caramel in MENA, constituting X% of total import. Morocco (X tons), Iran (X tons), Yemen (X tons), Oman (X tons), Kuwait (X tons) and Tunisia (X tons) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Oman (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Algeria ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. The United Arab Emirates, Israel, Egypt, Morocco, Oman, Kuwait, Iran, Yemen, Iraq and Tunisia lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Oman, with a CAGR of X%, saw the highest growth rate of 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 2022, the import price in MENA amounted to $X per ton, increasing by X% against the previous year. Import price indicated perceptible 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, caramel import price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the import price increased by X%. The level of import peaked at $X per ton in 2020; afterwards, it flattened through to 2022.

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