Saudi Arabia: Confectionery Market 2024

Confectionery Market Size in Saudi Arabia

The Saudi confectionery market rose notably to $X in 2022, growing by X% against the previous year. Over the period under review, 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 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Confectionery Production in Saudi Arabia

In value terms, confectionery production expanded notably to $X in 2022 estimated in export price. Overall, production posted a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. Confectionery production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Confectionery Exports

Exports from Saudi Arabia

In 2022, overseas shipments of confectionery increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, total exports indicated a moderate expansion from 2012 to 2022: its volume 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, exports decreased by X% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, confectionery exports rose modestly to $X in 2022. In general, exports posted prominent growth. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

Yemen (X tons) was the main destination for confectionery exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, confectionery exports to Yemen exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was held by Egypt (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Yemen totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Egypt (X% per year).

In value terms, the United Arab Emirates ($X), Yemen ($X) and Kuwait ($X) appeared to be the largest markets for confectionery exported from Saudi Arabia worldwide, with a combined X% share of total exports. Egypt, Oman, Bahrain, Jordan, Iraq, Somalia, Sudan, Djibouti and Lebanon lagged somewhat behind, together comprising a further X%.

Djibouti, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average confectionery export price stood at $X per ton in 2022, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then contracted modestly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Yemen ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (X%), while the prices for the other major destinations experienced more modest paces of growth.

Confectionery Imports

Imports into Saudi Arabia

In 2022, supplies from abroad of confectionery 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 in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, confectionery imports declined slightly to $X in 2022. Overall, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 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 failed to regain momentum.

Imports by Country

Turkey (X tons), Russia (X tons) and Egypt (X tons) were the main suppliers of confectionery imports to Saudi Arabia, with a combined X% share of total imports.

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

In value terms, Egypt ($X), the United Arab Emirates ($X) and Turkey ($X) were the largest confectionery suppliers to Saudi Arabia, with a combined X% share of total imports. Russia, Italy, Belgium, Poland, the UK, Germany, Jordan, the Netherlands, China and Bahrain lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Russia, with a CAGR of X%, recorded 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 average confectionery import price amounted to $X per ton, shrinking by X% against the previous year. Overall, the import price showed a mild setback. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Bahrain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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