GCC: Market for Cereal Grain Products (Including Corn Flakes) 2024

Market Size for Cereal Grain Products (Including Corn Flakes) in GCC

The GCC market for cereal grain products (including corn flakes) dropped slightly to $X in 2022, waning by X% against the previous year. The total consumption indicated a remarkable 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. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Cereal Grain Products (Including Corn Flakes) in GCC

In value terms, corn flakes and cereal products production declined to $X in 2022 estimated in export price. In general, production recorded a resilient expansion. The pace of growth appeared the most rapid in 2013 when the production volume increased by X%. The level of production peaked at $X in 2019; afterwards, it flattened through to 2022.

Exports of Cereal Grain Products (Including Corn Flakes)

Exports in GCC

In 2022, shipments abroad of cereal grain products (including corn flakes) increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports saw a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, corn flakes and cereal products exports soared to $X in 2022. Overall, exports continue to indicate a buoyant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates represented the largest exporter of cereal grain products (including corn flakes) in GCC, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. Oman (X tons) ranks second in terms of the total exports with a X% share, followed by Bahrain (X%). Saudi Arabia (X tons) and Kuwait (X tons) took a minor share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of cereal grain products (including corn flakes). At the same time, Bahrain (X%), Kuwait (X%) and Oman (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. Bahrain (X p.p.), Oman (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest corn flakes and cereal products supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Bahrain ($X), with a X% share of total exports. It was followed by Oman, with a X% share.

In the United Arab Emirates, corn flakes and cereal products exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Bahrain (X% per year) and Oman (X% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price saw a buoyant increase. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

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

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

Imports of Cereal Grain Products (Including Corn Flakes)

Imports in GCC

In 2022, the amount of cereal grain products (including corn flakes) imported in GCC shrank slightly to X tons, which is down by X% compared with the year before. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, corn flakes and cereal products imports declined to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Saudi Arabia was the key importer of cereal grain products (including corn flakes) in GCC, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total imports with a X% share, followed by Kuwait (X%) and Oman (X%). The following importers - Bahrain (X tons) and Qatar (X tons) - each amounted to a X% 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, the largest corn flakes and cereal products importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined X% share of total imports. Oman, Bahrain and Qatar lagged somewhat behind, together accounting for a further X%.

Bahrain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, approximately equating the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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