GCC's Organic Acids Market Set to Achieve Growth in Volume and Value by 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: GCC - Oleic, Linoleic Or Linolenic Acids, Their Salts And Esters - Market Analysis, Forecast, Size, Trends And Insights.

The market for oleic, linoleic, and linolenic acids and their derivatives in the GCC region is expected to experience steady growth, driven by rising demand. The market is projected to expand with a CAGR of +1.4% in volume and +1.8% in value from 2024 to 2035, reaching a market volume of 1.9K tons and a value of $4.9M by the end of the forecast period.

Driven by increasing demand for oleic, linoleic or linolenic acids, their salts and esters in GCC, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.4% for the period from 2024 to 2035, which is projected to bring the market volume to 1.9K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.8% for the period from 2024 to 2035, which is projected to bring the market value to $4.9M (in nominal wholesale prices) by the end of 2035.

In 2024, approx. 1.6K tons of oleic, linoleic or linolenic acids, their salts and esters were consumed in GCC; remaining constant against the previous year. The total consumption volume increased at an average annual rate of +2.0% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of consumption peaked at 2K tons in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

The size of the market for oleic, linoleic or linolenic acids, their salts and esters in GCC expanded modestly to $4M in 2024, surging by 2.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a modest expansion. Over the period under review, the market hit record highs at $4.8M in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

The United Arab Emirates (1.4K tons) constituted the country with the largest volume of oleic, linoleic or linolenic acids consumption, accounting for 89% of total volume. Moreover, oleic, linoleic or linolenic acids consumption in the United Arab Emirates exceeded the figures recorded by the second-largest consumer, Saudi Arabia (132 tons), more than tenfold.

From 2013 to 2024, the average annual rate of growth in terms of volume in the United Arab Emirates amounted to +3.5%. In the other countries, the average annual rates were as follows: Saudi Arabia (-0.7% per year) and Bahrain (-13.8% per year).

In value terms, the United Arab Emirates ($3.2M) led the market, alone. The second position in the ranking was held by Saudi Arabia ($487K).

In the United Arab Emirates, the oleic, linoleic or linolenic acids market expanded at an average annual rate of +1.9% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of market growth: Saudi Arabia (+3.6% per year) and Bahrain (-4.6% per year).

From 2013 to 2024, the average annual rate of growth in terms of the oleic, linoleic or linolenic acids per capita consumption in the United Arab Emirates amounted to +2.5%. In the other countries, the average annual rates were as follows: Bahrain (-16.5% per year) and Saudi Arabia (-2.5% per year).

In 2024, approx. 174 tons of oleic, linoleic or linolenic acids, their salts and esters were produced in GCC; shrinking by -70.5% on the previous year's figure. Over the period under review, production saw a deep slump. The pace of growth appeared the most rapid in 2017 with an increase of 68%. Over the period under review, production reached the peak volume at 1.1K tons in 2020; however, from 2021 to 2024, production failed to regain momentum.

In value terms, oleic, linoleic or linolenic acids production declined significantly to $493K in 2024 estimated in export price. In general, production saw a deep slump. The growth pace was the most rapid in 2017 with an increase of 65%. Over the period under review, production attained the peak level at $3.4M in 2020; however, from 2021 to 2024, production remained at a lower figure.

The United Arab Emirates (174 tons) constituted the country with the largest volume of oleic, linoleic or linolenic acids production, comprising approx. 100% of total volume.

In the United Arab Emirates, oleic, linoleic or linolenic acids production shrank by an average annual rate of -12.4% over the period from 2013-2024.

Oleic, linoleic or linolenic acids imports surged to 1.5K tons in 2024, increasing by 45% on the previous year. Overall, imports saw buoyant growth. The most prominent rate of growth was recorded in 2022 with an increase of 107% against the previous year. As a result, imports attained the peak of 2.1K tons. From 2023 to 2024, the growth of imports remained at a somewhat lower figure.

In value terms, oleic, linoleic or linolenic acids imports surged to $3.6M in 2024. In general, imports enjoyed a measured increase. The growth pace was the most rapid in 2022 with an increase of 92% against the previous year. As a result, imports attained the peak of $4.9M. From 2023 to 2024, the growth of imports failed to regain momentum.

The United Arab Emirates prevails in imports structure, resulting at 1.3K tons, which was near 89% of total imports in 2024. It was distantly followed by Saudi Arabia (132 tons), achieving an 8.9% share of total imports. Bahrain (24 tons) held a relatively small share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the oleic, linoleic or linolenic acids, their salts and esters imports, with a CAGR of +12.0% from 2013 to 2024. Saudi Arabia experienced a relatively flat trend pattern. Bahrain (-13.8%) illustrated a downward trend over the same period. From 2013 to 2024, the share of the United Arab Emirates increased by +33 percentage points.

In value terms, the United Arab Emirates ($2.8M) constitutes the largest market for imported oleic, linoleic or linolenic acids, their salts and esters in GCC, comprising 77% of total imports. The second position in the ranking was taken by Saudi Arabia ($487K), with a 13% share of total imports.

In the United Arab Emirates, oleic, linoleic or linolenic acids imports increased at an average annual rate of +8.4% over the period from 2013-2024. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (+3.6% per year) and Bahrain (-4.6% per year).

In 2024, the import price in GCC amounted to $2,456 per ton, falling by -3.4% against the previous year. Over the period under review, the import price continues to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2017 when the import price increased by 18% against the previous year. Over the period under review, import prices attained the peak figure at $3,526 per ton in 2014; however, from 2015 to 2024, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was Bahrain ($12,459 per ton), while the United Arab Emirates ($2,143 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Bahrain (+10.6%), while the other leaders experienced mixed trends in the import price figures.

In 2024, the amount of oleic, linoleic or linolenic acids, their salts and esters exported in GCC surged to 56 tons, picking up by 73% compared with the previous year's figure. Over the period under review, exports, however, continue to indicate a deep reduction. The pace of growth was the most pronounced in 2018 when exports increased by 1,223% against the previous year. As a result, the exports reached the peak of 207 tons. From 2019 to 2024, the growth of the exports failed to regain momentum.

In value terms, oleic, linoleic or linolenic acids exports soared to $185K in 2024. In general, exports, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 349%. Over the period under review, the exports hit record highs at $399K in 2013; however, from 2014 to 2024, the exports stood at a somewhat lower figure.

The biggest shipments were from the United Arab Emirates (56 tons), together finishing at 100% of total export.

The United Arab Emirates was also the fastest-growing in terms of the oleic, linoleic or linolenic acids, their salts and esters exports, with a CAGR of -8.3% from 2013 to 2024. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($185K) also remains the largest oleic, linoleic or linolenic acids supplier in GCC.

In the United Arab Emirates, oleic, linoleic or linolenic acids exports shrank by an average annual rate of -6.7% over the period from 2013-2024.

In 2024, the export price in GCC amounted to $3,335 per ton, growing by 11% against the previous year. Overall, the export price enjoyed slight growth. The growth pace was the most rapid in 2019 when the export price increased by 101% against the previous year. The level of export peaked at $3,866 per ton in 2020; however, from 2021 to 2024, 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 2013 to 2024, the rate of growth in terms of prices for the United Arab Emirates amounted to +1.7% per year.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for oleic, linoleic or linolenic acids in GCC. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

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