GCC: Animal Feed Market 2024

Animal Feed Market Size in GCC

The GCC animal feed market was estimated at $X in 2022, surging by 3.5% against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Animal Feed Production in GCC

In value terms, animal feed production expanded slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 42%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Animal Feed Exports

Exports in GCC

In 2022, overseas shipments of animal and pet feed decreased by -5.6% to X tons, falling for the second year in a row after five years of growth. Overall, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2013 with an increase of 215%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, animal feed exports rose slightly to $X in 2022. Over the period under review, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 187%. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

The shipments of the three major exporters of animal and pet feed, namely Saudi Arabia, the United Arab Emirates and Oman, represented more than two-thirds of total export.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +40.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X) constituted the countries with the highest levels of exports in 2022, together accounting for 99% of total exports.

Oman, with a CAGR of +37.6%, saw the highest growth rate of 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

The export price in GCC stood at $X per ton in 2022, with an increase of 7.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2021 when the export price increased by 22% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.0%), while the other leaders experienced mixed trends in the export price figures.

Animal Feed Imports

Imports in GCC

After two years of decline, overseas purchases of animal and pet feed increased by 2.1% to X tons in 2022. Total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +8.1% 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 -6.5% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 40%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, animal feed imports amounted to $X in 2022. Total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +8.0% 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 -1.2% against 2020 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 36% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of animal and pet feed, namely Saudi Arabia, the United Arab Emirates and Oman, represented more than two-thirds of total import. Kuwait (X tons) held the next position in the ranking, followed by Qatar (X tons) and Bahrain (X tons). All these countries together held near 20% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Oman (with a CAGR of +17.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported animal and pet feed in GCC, comprising 49% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 23% share of total imports. It was followed by Oman, with a 12% share.

In Saudi Arabia, animal feed imports increased at an average annual rate of +6.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+8.3% per year) and Oman (+17.8% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, remaining constant against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by 15%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while Oman ($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 (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform