GCC: Industrial Bakery Machinery Market 2024

Industrial Bakery Machinery Market Size in GCC

In 2023, the GCC industrial bakery machinery market decreased by X% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, enjoyed slight growth. Over the period under review, the market attained the peak level at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Industrial Bakery Machinery Production in GCC

In value terms, industrial bakery machinery production stood at $X in 2023 estimated in export price. Over the period under review, production continues to indicate a perceptible increase. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, production attained the maximum level at $X in 2021; however, from 2022 to 2023, production failed to regain momentum.

Industrial Bakery Machinery Exports

Exports in GCC

Industrial bakery machinery exports surged to X units in 2023, growing by X% compared with the previous year's figure. Over the period under review, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2023, the exports remained at a lower figure.

In value terms, industrial bakery machinery exports surged to $X in 2023. Overall, exports saw resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2023, the United Arab Emirates (X units) was the largest exporter of industrial bakery machinery, mixing up X% of total exports. It was distantly followed by Saudi Arabia (X units), constituting a X% share of total exports. The following exporters - Oman (X units) and Bahrain (X units) - each reached a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to industrial bakery machinery exports from the United Arab Emirates stood at X%. At the same time, Saudi Arabia (X%) and Oman (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. By contrast, Bahrain (X%) illustrated a downward trend over the same period. While the share of Saudi Arabia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Oman (X p.p.), the United Arab Emirates (X p.p.) and Bahrain (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest industrial bakery machinery supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports. It was followed by Bahrain, with a X% share.

In the United Arab Emirates, industrial bakery machinery exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (X% per year) and Bahrain (X% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2023, shrinking by X% against the previous year. Over the period under review, the export price recorded a noticeable shrinkage. The pace of growth appeared the most rapid in 2015 when the export price increased by X% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

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

From 2012 to 2023, 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 export price figures.

Industrial Bakery Machinery Imports

Imports in GCC

In 2023, supplies from abroad of industrial bakery machinery decreased by X% to X units for the first time since 2019, thus ending a three-year rising trend. In general, imports, however, continue to indicate a remarkable increase. The growth pace was the most rapid in 2022 with an increase of X%. As a result, imports attained the peak of X units, and then reduced markedly in the following year.

In value terms, industrial bakery machinery imports expanded modestly to $X in 2023. Over the period under review, imports saw a pronounced reduction. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Qatar (X units) represented the major importer of industrial bakery machinery, comprising X% of total imports. It was distantly followed by the United Arab Emirates (X units), comprising a X% share of total imports. Kuwait (X units) and Oman (X units) followed a long way behind the leaders.

Qatar was also the fastest-growing in terms of the industrial bakery machinery imports, with a CAGR of X% from 2012 to 2023. At the same time, Kuwait (X%) and Oman (X%) displayed positive paces of growth. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Qatar 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 ($X) constitutes the largest market for imported industrial bakery machinery in GCC, comprising X% of total imports. The second position in the ranking was held by Kuwait ($X), with an X% share of total imports. It was followed by Qatar, with an X% share.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Qatar (X% per year).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per unit, surging by X% against the previous year. Overall, the import price, however, faced a abrupt setback. The pace of growth was the most pronounced in 2019 an increase of X%. Over the period under review, import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Qatar ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform