GCC: Market for Powdered, Evaporated And Condensed Milk 2024

Market Size for Powdered, Evaporated And Condensed Milk in GCC

In 2022, the GCC market for powdered, evaporated and condensed milk increased by X% to $X, rising for the fourth consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level in 2022 and is likely to see gradual growth in years to come.

Production of Powdered, Evaporated And Condensed Milk in GCC

In value terms, powdered, evaporated and condensed milk production expanded significantly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a buoyant expansion. The growth pace was the most rapid in 2020 with an increase of X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Exports of Powdered, Evaporated And Condensed Milk

Exports in GCC

In 2022, shipments abroad of powdered, evaporated and condensed milk increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. Overall, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, powdered, evaporated and condensed milk exports skyrocketed to $X in 2022. Total exports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates was the largest exporting country with an export of around X tons, which amounted to X% of total exports. Saudi Arabia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Oman (X%). The following exporters - Kuwait (X tons) and Bahrain (X tons) - together made up X% of total exports.

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

In value terms, the United Arab Emirates ($X) remains the largest powdered, evaporated and condensed milk supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with an X% share of total exports. It was followed by Oman, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, jumping by X% against the previous year. In general, the export price, however, recorded a slight decrease. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2013; however, from 2014 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 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 Bahrain (X%), while the other leaders experienced a decline in the export price figures.

Imports of Powdered, Evaporated And Condensed Milk

Imports in GCC

In 2022, after two years of decline, there was significant growth in supplies from abroad of powdered, evaporated and condensed milk, when their volume increased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, powdered, evaporated and condensed milk imports surged to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the major importer of powdered, evaporated and condensed milk in GCC, with the volume of imports accounting for X tons, which was approx. X% of total imports in 2022. Saudi Arabia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Oman (X%) and Kuwait (X%). Bahrain (X tons) and 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 main 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 powdered, evaporated and condensed milk importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), with a combined X% share of total imports.

Among the main importing countries, the United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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 2022, growing by X% against the previous year. Over the period under review, the import price, however, saw a mild curtailment. The pace of growth was the most pronounced in 2020 an increase of X%. Over the period under review, import prices hit record highs 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 Qatar ($X per ton), while Bahrain ($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 a decline in the import price figures.

Source: IndexBox Platform