Middle East: Vanilla Market 2024

Vanilla Market Size in the Middle East

The Middle Eastern vanilla market soared to $X in 2023, increasing by X% against the previous year. Over the period under review, consumption recorded resilient growth. Over the period under review, the market reached the maximum level in 2023 and is expected to retain growth in years to come.

Vanilla Production in the Middle East

In value terms, vanilla production dropped remarkably to $X in 2023 estimated in export price. Over the period under review, production, however, saw a noticeable increase. The most prominent rate of growth was recorded in 2022 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X, and then dropped significantly in the following year.

Turkey (X tons) remains the largest vanilla producing country in the Middle East, comprising approx. X% of total volume.

From 2012 to 2023, the average annual rate of growth in terms of volume in Turkey stood at X%.

The average vanilla yield skyrocketed to X kg per ha in 2023, rising by X% against the previous year's figure. Overall, the yield posted significant growth. As a result, the yield attained the peak level and is likely to continue growth in the immediate term. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The vanilla harvested area shrank remarkably to X ha in 2023, which is down by X% on the year before. Overall, the harvested area saw a dramatic decrease. Over the period under review, the harvested area dedicated to vanilla production reached the maximum at X ha in 2022, and then declined remarkably in the following year.

Vanilla Exports

Exports in the Middle East

In 2023, after five years of growth, there was significant decline in overseas shipments of vanilla, when their volume decreased by X% to X tons. In general, exports, however, posted resilient growth. The growth pace was the most rapid in 2019 when exports increased by X%. The volume of export peaked at X tons in 2022, and then contracted in the following year.

In value terms, vanilla exports fell dramatically to $X in 2023. Overall, exports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then fell dramatically in the following year.

Exports by Country

Turkey was the largest exporter of vanilla in the Middle East, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2023. It was distantly followed by Saudi Arabia (X tons), comprising a X% share of total exports. The United Arab Emirates (X tons) and Syrian Arab Republic (X tons) took a little share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. By contrast, Syrian Arab Republic (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Saudi Arabia, the United Arab Emirates and Syrian Arab Republic increased by X, X and X percentage points, respectively.

In value terms, Turkey ($X), Saudi Arabia ($X) and the United Arab Emirates ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Syrian Arab Republic lagged somewhat behind, comprising a further X%.

Syrian Arab Republic, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, shrinking by X% against the previous year. Export price indicated a pronounced expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, vanilla export price increased by X% against 2021 indices. The growth pace was the most rapid in 2017 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Vanilla Imports

Imports in the Middle East

For the ninth year in a row, the Middle East recorded growth in purchases abroad of vanilla, which increased by X% to X tons in 2023. In general, imports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure in 2023 and are expected to retain growth in the immediate term.

In value terms, vanilla imports expanded notably to $X in 2023. Overall, imports recorded a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the near future.

Imports by Country

Syrian Arab Republic was the largest importer of vanilla in the Middle East, with the volume of imports amounting to X tons, which was approx. X% of total imports in 2023. It was distantly followed by Saudi Arabia (X tons), constituting a X% share of total imports. The following importers - Iraq (X tons), Yemen (X tons), the United Arab Emirates (X tons) and Lebanon (X tons) - together made up X% of total imports.

Syrian Arab Republic was also the fastest-growing in terms of the vanilla imports, with a CAGR of X% from 2012 to 2023. At the same time, Yemen (X%), Lebanon (X%), the United Arab Emirates (X%) and Saudi Arabia (X%) displayed positive paces of growth. By contrast, Iraq (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Syrian Arab Republic and Iraq 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 ($X), Syrian Arab Republic ($X) and Saudi Arabia ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Syrian Arab Republic, with a CAGR of X%, saw 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 the Middle East stood at $X per ton in 2023, dropping by X% against the previous year. Over the period under review, the import price continues to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2014 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2023, the import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform