Bahrain: Market for Evaporated And Condensed Milk 2024

Market Size for Evaporated And Condensed Milk in Bahrain

The Bahraini evaporated and condensed milk market rose notably to $X in 2022, growing by 10% 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, the total consumption indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 -6.4% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Exports of Evaporated And Condensed Milk

Exports from Bahrain

In 2022, evaporated and condensed milk exports from Bahrain dropped markedly to X tons, with a decrease of -23.8% on the year before. Overall, exports showed a perceptible contraction. The most prominent rate of growth was recorded in 2017 with an increase of 83% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, evaporated and condensed milk exports contracted sharply to $X in 2022. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 103% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for evaporated and condensed milk exports from Bahrain, with a 53% share of total exports. Moreover, evaporated and condensed milk exports to Saudi Arabia exceeded the volume sent to the second major destination, Kuwait (X tons), threefold. The third position in this ranking was held by the United Arab Emirates (X tons), with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia stood at +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-6.3% per year) and the United Arab Emirates (-8.5% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for evaporated and condensed milk exports from Bahrain, comprising 60% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 12% share of total exports. It was followed by the United Arab Emirates, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia stood at +20.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (-9.0% per year) and the United Arab Emirates (-3.3% per year).

Export Prices by Country

In 2022, the average evaporated and condensed milk export price amounted to $X per ton, approximately reflecting the previous year. Over the last decade, it increased at an average annual rate of +2.5%. The pace of growth was the most pronounced in 2016 when the average export price increased by 21% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Somalia ($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 the United Arab Emirates (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Evaporated And Condensed Milk

Imports into Bahrain

In 2022, purchases abroad of evaporated and condensed milk decreased by -2.4% to X tons, falling for the second year in a row after nine years of growth. Over the period under review, total imports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -13.5% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 47% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, evaporated and condensed milk imports amounted to $X in 2022. In general, total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -14.7% against 2018 indices. The growth pace was the most rapid in 2014 with an increase of 50% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Saudi Arabia (X tons) constituted the largest evaporated and condensed milk supplier to Bahrain, with a 71% share of total imports. Moreover, evaporated and condensed milk imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fivefold. The third position in this ranking was taken by Free Zones (X tons), with a 4% share.

From 2012 to 2022, the average annual growth rate of volume from Saudi Arabia totaled +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+5.5% per year) and Free Zones (+166.0% per year).

In value terms, the largest evaporated and condensed milk suppliers to Bahrain were Saudi Arabia ($X), the Netherlands ($X) and Free Zones ($X), with a combined 84% share of total imports.

Free Zones, with a CAGR of +318.4%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers 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 evaporated and condensed milk import price amounted to $X per ton, growing by 14% against the previous year. Over the period under review, the import price, however, showed a slight curtailment. The import price peaked at $X per ton in 2018; however, from 2019 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 the Netherlands ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Free Zones (+57.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform