GCC: Dairy Produce Market 2024

Dairy Produce Market Size in GCC

In 2022, the GCC dairy produce market increased by X% to $X, rising for the fourth year in a row after four years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Dairy Produce Production in GCC

In value terms, dairy produce production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Dairy Produce Exports

Exports in GCC

In 2022, the amount of dairy produce exported in GCC expanded significantly to X tons, picking up by X% against the year before. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The volume of export peaked at X tons in 2019; afterwards, it flattened through to 2022.

In value terms, dairy produce exports surged to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Saudi Arabia (X tons) and the United Arab Emirates (X tons) dominates exports structure, together mixing up X% of total exports. Bahrain (X tons) took the next position in the ranking, followed by Kuwait (X tons). All these countries together held approx. X% share of total exports. Oman (X tons) followed a long way behind the leaders.

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

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Bahrain ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Bahrain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, surging by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Bahrain ($X per ton), while Kuwait ($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 (X%), while the other leaders experienced a decline in the export price figures.

Dairy Produce Imports

Imports in GCC

In 2022, overseas purchases of dairy produce increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of X%. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, dairy produce imports expanded significantly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

The United Arab Emirates (X tons) and Saudi Arabia (X tons) were the main importers of dairy produce in 2022, amounting to approx. X% and X% of total imports, respectively. Oman (X tons) held the next position in the ranking, followed by Kuwait (X tons) and Bahrain (X tons). All these countries together held near X% share of total imports. Qatar (X tons) followed a long way behind the leaders.

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

In value terms, the largest dairy produce importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), with a combined X% share of total imports.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the import price in GCC amounted to $X per ton, picking up by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per ton), while Oman ($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 (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform