GCC: Canned Meat Market 2024

Canned Meat Market Size in GCC

The GCC canned meat market reduced modestly to $X in 2021, stabilizing at the previous year. The total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -1.4% against 2016 indices. The level of consumption peaked at $X in 2016; afterwards, it flattened through to 2021.

Canned Meat Production in GCC

In value terms, canned meat production declined modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 46% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Canned Meat Exports

Exports in GCC

In 2021, overseas shipments of canned meat increased by 2.9% to X tons, rising for the third consecutive year after two years of decline. Overall, exports recorded a strong increase. The most prominent rate of growth was recorded in 2014 when exports increased by 35% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, canned meat exports totaled $X in 2021. Total exports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +11.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +27.5% against 2018 indices. The pace of growth was the most pronounced in 2014 when exports increased by 49%. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) prevails in exports structure, together achieving 96% of total exports. Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Kuwait (with a CAGR of +26.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the largest canned meat supplier in GCC, comprising 70% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 26% share of total exports.

In the United Arab Emirates, canned meat exports increased at an average annual rate of +18.7% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+2.6% per year) and Kuwait (+25.1% per year).

Export Prices by Country

The export price in GCC stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 10%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, 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 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.8%), while the other leaders experienced a decline in the export price figures.

Canned Meat Imports

Imports in GCC

In 2021, approx. X tons of canned meat were imported in GCC; rising by 17% compared with the previous year's figure. Total imports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +34.6% against 2017 indices. The growth pace was the most rapid in 2019 with an increase of 21%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, canned meat imports surged to $X in 2021. Total imports indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +62.1% against 2017 indices. The growth pace was the most rapid in 2013 with an increase of 27% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Saudi Arabia (X tons), the United Arab Emirates (X tons) and Kuwait (X tons) represented roughly 77% of total imports in 2021. Oman (X tons) ranks next in terms of the total imports with a 9.6% share, followed by Qatar (7.2%) and Bahrain (6.3%).

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +8.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest canned meat importing markets in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), together comprising 78% of total imports.

Saudi Arabia, with a CAGR of +10.6%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, surging by 3.7% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2013 an increase of 8.4% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the United Arab Emirates ($X per ton) and Kuwait ($X per ton), while Oman ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform