GCC: Dairy Machinery Market 2024

Dairy Machinery Market Size in GCC

The GCC dairy machinery market rose rapidly to $X in 2022, picking up by 7.9% against the previous year. Over the period under review, consumption posted a prominent expansion. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Dairy Machinery Production in GCC

In value terms, dairy machinery production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 154%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Dairy Machinery Exports

Exports in GCC

In 2022, the amount of dairy machinery exported in GCC fell notably to X units, waning by -88.2% on the previous year's figure. Overall, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 4,512%. As a result, the exports attained the peak of X units, and then dropped significantly in the following year.

In value terms, dairy machinery exports plummeted to $X in 2022. In general, exports, however, enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2021 when exports increased by 767%. As a result, the exports attained the peak of $X, and then contracted markedly in the following year.

Exports by Country

The United Arab Emirates prevails in exports structure, reaching X units, which was near 98% of total exports in 2022. Oman (X units) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to dairy machinery exports from the United Arab Emirates stood at +18.3%. At the same time, Oman (+37.4%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +37.4% from 2012-2022. Oman (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -1.5% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X) remains the largest dairy machinery supplier in GCC, comprising 100% of total exports. The second position in the ranking was held by Oman ($X), with a 0.5% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +13.6%.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, picking up by 361% against the previous year. In general, the export price, however, continues to indicate a perceptible downturn. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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 unit), while Oman amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (-4.0%).

Dairy Machinery Imports

Imports in GCC

In 2022, after three years of decline, there was significant growth in supplies from abroad of dairy machinery, when their volume increased by 75% to X units. Overall, imports showed significant growth. The pace of growth was the most pronounced in 2015 when imports increased by 787% against the previous year. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, dairy machinery imports skyrocketed to $X in 2022. In general, imports recorded strong growth. The pace of growth was the most pronounced in 2013 when imports increased by 267%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Qatar (X units) and the United Arab Emirates (X units) dominates imports structure, together mixing up 80% of total imports. Oman (X units) held the next position in the ranking, followed by Bahrain (X units) and Kuwait (X units). All these countries together held approx. 20% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Qatar (with a CAGR of +65.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported dairy machinery in GCC, comprising 39% of total imports. The second position in the ranking was taken by Qatar ($X), with a 13% share of total imports. It was followed by Bahrain, with a 6.1% share.

In the United Arab Emirates, dairy machinery imports expanded at an average annual rate of +13.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Qatar (+43.4% per year) and Bahrain (-3.3% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, falling by -24% against the previous year. Over the period under review, the import price faced a deep downturn. The pace of growth appeared the most rapid in 2019 when the import price increased by 259%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform