GCC: Nuts Market 2024

Nuts Market Size in GCC

The GCC nuts market contracted sharply to $X in 2022, declining by X% against the previous year. The total consumption indicated a notable 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 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Nuts Production in GCC

In value terms, nuts production soared to $X in 2022 estimated in export price. In general, production, however, enjoyed a remarkable increase. The growth pace was 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 remained at a somewhat lower figure.

The United Arab Emirates (X tons) constituted the country with the largest volume of nuts production, accounting for X% of total volume. Moreover, nuts production in the United Arab Emirates exceeded the figures recorded by the second-largest producer, Saudi Arabia (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume in the United Arab Emirates totaled X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Bahrain (X% per year).

The average nuts yield dropped rapidly to X tons per ha in 2022, which is down by X% on the year before. Overall, the yield, however, recorded prominent growth. The most prominent rate of growth was recorded in 2021 when the yield increased by X%. As a result, the yield attained the peak level of X tons per ha, and then contracted significantly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of nuts in GCC skyrocketed to X ha, picking up by X% on 2021. Over the period under review, the harvested area continues to indicate mild growth. Over the period under review, the harvested area dedicated to nuts production reached the peak figure at X ha in 2020; however, from 2021 to 2022, the harvested area failed to regain momentum.

Nuts Exports

Exports in GCC

Nuts exports skyrocketed to X tons in 2022, with an increase of X% on the previous year. In general, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, nuts exports surged to $X in 2022. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

The United Arab Emirates (X tons) represented roughly X% of total exports in 2022.

The United Arab Emirates was also the fastest-growing in terms of the nuts exports, with a CAGR of X% from 2012 to 2022. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest nuts supplier in GCC.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, waning by X% against the previous year. In general, the export price recorded a perceptible setback. The pace of growth appeared the most rapid in 2016 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Nuts Imports

Imports in GCC

In 2022, imports of nuts in GCC amounted to X tons, picking up by X% compared with the previous year. Overall, imports saw a buoyant increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, nuts imports rose rapidly to $X in 2022. Total imports indicated prominent 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the key importer of nuts in GCC, with the volume of imports recording X tons, which was near X% of total imports in 2022. It was distantly followed by Saudi Arabia (X tons), making up a X% share of total imports. The following importers - Kuwait (X tons) and Bahrain (X tons) - each recorded a X% share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the nuts imports, with a CAGR of X% from 2012 to 2022. At the same time, Kuwait (X%) and Bahrain (X%) displayed positive paces of growth. Saudi Arabia experienced a relatively flat trend pattern. From 2012 to 2022, the share of the United Arab Emirates increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In the United Arab Emirates, nuts imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (X% per year) and Bahrain (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, declining by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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