GCC: Bacon And Ham Market 2024

Bacon And Ham Market Size in GCC

After five years of growth, the GCC bacon and ham market decreased by -1.9% to $X in 2022. In general, consumption continues to indicate a strong expansion. Over the period under review, the market attained the maximum level at $X in 2021, and then reduced modestly in the following year.

Bacon And Ham Production in GCC

In value terms, bacon and ham production amounted to $X in 2022 estimated in export price. Over the period under review, production saw a strong expansion. The most prominent rate of growth was recorded in 2015 with an increase of 777,400%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Bacon And Ham Exports

Exports in GCC

In 2022, the amount of bacon, ham and other dried, salted or smoked pig meat exported in GCC shrank markedly to X tons, falling by -43.3% against 2021. In general, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 121% against the previous year. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, bacon and ham exports shrank significantly to $X in 2022. Over the period under review, exports continue to indicate a abrupt setback. The pace of growth was the most pronounced in 2016 with an increase of 102%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates exports structure, accounting for X tons, which was near 95% of total exports in 2022. It was distantly followed by Bahrain (X kg), making up a 4.8% share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the bacon, ham and other dried, salted or smoked pig meat exports, with a CAGR of -15.3% from 2012 to 2022. Bahrain (-21.2%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+4.8 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Bahrain (-4.6 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest bacon and ham supplier in GCC, comprising 97% of total exports. The second position in the ranking was taken by Bahrain ($X), with a 3.1% share of total exports.

In the United Arab Emirates, bacon and ham exports decreased by an average annual rate of -8.4% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, dropping by -3.7% against the previous year. In general, the export price, however, showed a resilient increase. The pace of growth appeared the most rapid in 2015 an increase of 63% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices 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 Bahrain amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+8.7%).

Bacon And Ham Imports

Imports in GCC

In 2022, imports of bacon, ham and other dried, salted or smoked pig meat in GCC amounted to X tons, picking up by 8.6% compared with 2021 figures. Overall, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 73% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; afterwards, it flattened through to 2022.

In value terms, bacon and ham imports shrank modestly to $X in 2022. In general, imports saw a buoyant expansion. The pace of growth appeared the most rapid in 2019 with an increase of 85% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

The United Arab Emirates dominates imports structure, amounting to X tons, which was approx. 92% of total imports in 2022. The following importers - Qatar (X tons) and Saudi Arabia (X tons) - together made up 5.9% of total imports.

From 2012 to 2022, average annual rates of growth with regard to bacon and ham imports into the United Arab Emirates stood at +7.0%. At the same time, Qatar (+11.6%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of +11.6% from 2012-2022. Saudi Arabia experienced a relatively flat trend pattern. From 2012 to 2022, the share of the United Arab Emirates, Saudi Arabia and Qatar increased by +3.4, +1.7 and +1.6 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported bacon, ham and other dried, salted or smoked pig meat in GCC, comprising 96% of total imports. The second position in the ranking was taken by Qatar ($X), with a 2.9% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at +9.9%. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+20.1% per year) and Saudi Arabia (0.0% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, falling by -10.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The growth pace was the most rapid in 2021 when the import price increased by 25% against the previous year. As a result, import price reached the peak level of $X per ton, and then declined in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+7.6%).

Source: IndexBox Platform