GCC: Market for Buttermilk And Buttermilk Powder 2024

Market Size for Buttermilk And Buttermilk Powder in GCC

In 2022, the GCC buttermilk and buttermilk powder market increased by 3.8% to $X for the first time since 2018, thus ending a three-year declining trend. The total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Buttermilk And Buttermilk Powder in GCC

In value terms, buttermilk and buttermilk powder production fell to $X in 2022 estimated in export price. The total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.6% against 2020 indices. The pace of growth appeared the most rapid in 2013 when the production volume increased by 62% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Buttermilk And Buttermilk Powder

Exports in GCC

In 2022, approx. X tons of buttermilk and buttermilk powder were exported in GCC; declining by -18.2% compared with the previous year. Over the period under review, exports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 184%. The volume of export peaked at X tons in 2021, and then declined remarkably in the following year.

In value terms, buttermilk and buttermilk powder exports fell remarkably to $X in 2022. In general, exports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2013 when exports increased by 245%. The level of export peaked at $X in 2021, and then shrank dramatically in the following year.

Exports by Country

In 2022, Saudi Arabia (X tons) was the main exporter of buttermilk and buttermilk powder, constituting 50% of total exports. The United Arab Emirates (X tons) took the second position in the ranking, distantly followed by Kuwait (X tons). All these countries together took approx. 50% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +28.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X) remains the largest buttermilk and buttermilk powder supplier in GCC, comprising 59% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 26% share of total exports.

In Saudi Arabia, buttermilk and buttermilk powder exports expanded at an average annual rate of +7.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+26.8% per year) and Kuwait (+25.7% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, surging by 2.5% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the export price increased by 22% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+1.4%), while the other leaders experienced a decline in the export price figures.

Imports of Buttermilk And Buttermilk Powder

Imports in GCC

In 2022, the amount of buttermilk and buttermilk powder imported in GCC dropped to X tons, with a decrease of -12% on the previous year's figure. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 35% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell in the following year.

In value terms, buttermilk and buttermilk powder imports shrank modestly to $X in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 18%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of buttermilk and buttermilk powder imports in 2022 were Oman (X tons), Kuwait (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons) and Bahrain (X tons), together accounting for 99% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Oman (with a CAGR of +8.9%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Saudi Arabia ($X), Kuwait ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2022, together comprising 71% of total imports. Oman and Bahrain lagged somewhat behind, together comprising a further 27%.

Among the main importing countries, Oman, with a CAGR of +1.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, picking up by 9.3% against the previous year. In general, the import price, however, showed a mild setback. The growth pace was the most rapid in 2013 an increase of 27%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Bahrain (+2.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform